Store card AZEO store curiousity

[Anonymous]

BBS: I now have 7 emails to CCT unanswered in 3 weeks. I get full reimbursement for the $15 so it’s no skin here. When it ends I’ll figure out something for $20/month because I’m done with MyFICO soon enough and don’t really need 3Bs anymore every month!

I may just do CK for alert monitoring and use the $20 to pull a 1B score monthly from here from a random CB.

My 2018 is all net worth growth so I want to cut my spending as far as possible. If the markets hold up and I do sell all my rental properties and main home I estimate I can feasibly increase my net worth by 33% in a year. And wait out a housing correction to earn even more.

Yeah $40/month isn’t a lot but it’s growth potential lost!

Chase will report $5 in a few days so we will see what happens there. Then PIF beforehand amex bcp reports $10 and then Amazon $0 right after.

[Anonymous]

ABCD, one other thing did change though with your 1 point fluctuation, your aggregate utilization.  While most of us believe that essentially everything in the 1%-8.9% range is considered equal, there have been individuals on certain profiles that reference different "sweet spots" in that range for whatever reason.  Is it possible that 4% aggregate utilization is a sweet spot on your profile?  I don't know.

[Anonymous]

Well crap. You’re right it might be below the sweet spot.

More things to test! Wish I had 4 Chase cards lol. Would be doing tons of combinations each month.

Maybe I should just let Discover report 70% and pay down to 50% and ask for a manual refresh and pay down to 30% etc lololol. Don’t want to cli me? I’ll ask for ten updates a month hahha!

[Anonymous]

I've never tried doing more than one off-cycle reporting request with Discover during any single cycle.  Have you tried more than one?  I'm curious if they'd give you a hard time about it, or if they really don't care and would just do it.

[arkane]

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@Anonymous wrote:

ABCD, one other thing did change though with your 1 point fluctuation, your aggregate utilization.  While most of us believe that essentially everything in the 1%-8.9% range is considered equal, there have been individuals on certain profiles that reference different "sweet spots" in that range for whatever reason.  Is it possible that 4% aggregate utilization is a sweet spot on your profile?  I don't know.

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When I had only my BoA card, anything over 7% (but below 8.9%) lead to a 4 point loss. But then with only 1 card individual util = aggregate util, so that significantly muddles things.

[thornback]

Experian IdentityWorks is $19.99 / month, daily EX pulls & Fico with all sorts if alerts + quarterly 3B. (Had this plan for a year then upgraded for monthly 3B - below)

Experian CreditWorks is $24.99 / month, daily EX pulls & Fico with all sorts if alerts + monthly 3B. (I currently have this plan)

EX also has a pretty great mobile app.

[Anonymous]

Thanks tmr! My reimbursement is $20 max so I'd totally consider the $19.99 one! Quarterly 3B is more than enough for me after I get to the 760s hopefully around July.

Still have about 18 months left on one possible future collection coming after me from an old chargeoff I was going to sue over but they nuked it. Assuming it's in a CA's hands so monitoring is important but CK honestly is good enough.

BBS: only had Discover update a report one time as a test. Was 86% utilization I PIF'd a few days past statement and they didn't bat an eye at the request. Never tried two in a month.

[thornback]

YW!

FYI - IdentityWorks promo (right now!) is first month free, $19.99 / month thereafter. Not sure how long it will last but now would be a good time to test drive. They make it super easy to cancel too.

[Anonymous]

Fresh update.

1. January 13, EX FICO8 = 706, reporting 9% aggregate and 2 bank cards reporting 27% and 20% and a store card reporting 5%.
2. January 14, EX FICO8 = 710, reporting 4% aggregate and 1 bank card report 20% and a store card reporting 5%.
3. January 15, EX FICO8 = 709, reporting 2% aggregate, 0 bank cards reporting and a store card reporting 5%.
4. January 17, EX FICO8 = 710, reporting 2% aggregate, 1 bank card reporting 1% and a store card reporting 5%.

So on my profile, 20% and 1% on the bank card had no difference.  Only reporting a store card < 8% dropped me a whopping 1 point.  Aggregate above 8.9% seems to drop me 4 points.

[Revelate]

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@Anonymous wrote:

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@Remedios wrote:

How long is a new account penalty and is it applicable to 1st,2nd and 3rd card? (first, as in first ever). 

Thank you 

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Technically there's no FICO loss from a new account if it's your first through third credit card, only because it helps with "credit mix" more than the new account dings you.  But after 3 months and 6 months you should see some growth because the penalty that did exist (and was likely negated by the credit mix boost) will go away.

Different FICO flavors appear to penalize new accounts for different weight and lengths of time, but my own data seems to say that 0-3 months is the worst penalty, 3-6 months less, and doesn't appear to mean much if anything after 6 months -- but some people have personal data points saying a full year on their profile.

I can't recall if there is a FICO factor for new accounts, though.  I only have 3 negative factors on EX right now (short credit history = low AAoA/AoOA; seeking credit = inquiries, installment balance too high = boat loan utilization).  So I assume the new account penalty may be well below any of those issues.

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There is one for new accounts, only for the non-derogatory scorecards as near as I've been able to determine for I believe all FICO models; I didn't start seeing it until my tax lien and collection went away on all 3 bureaus.

1 year is apparently the seasoning boundary on FICO 8 and FICO 98 (reason code disappeared), FICO 04 (EQ FICO 5 and TU FICO 4) I still have it on there and it didn't shift one bit (nor did my score) when I went over that one year mark.  I don't know if there's any aging component on FICO 8, whenever I open a new account I will specifically track that as I assume I will come off my 800 EQ/EX scores even without the inquiry; I got a respectable jump at the beginning of the year as my account ticked over for FICO 8, and I didn't change inquiry count on EQ at all.