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The 'All at less than 9% Utilization' experiment

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Super Contributor

Re: The 'All At Just Under 8.99% Utilization' experiment

Very interesting, so I see 8 and 9 went up, however slightly.

And look at 5-4-2....interesting indeed. 2 stopped complaining about new accounts. Still there on 4, not on 5....just short revolving history.

For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.


RIP:

Oldest/average age varies by bureau. Estimates above.


Updated Oct 2020, unless otherwise noted.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (Mature/young), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/mature/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 101 of 109
Valued Contributor

Re: The 'All At Just Under 8.99% Utilization' experiment

January 10, 2020: End of Experiment

 

I didn't end up anywhere close to the 'Excellent' range, but I was able to get 20 of 28 scores to 'Very Good' with 2 credit cards and 1yr 1mo total revolving credit history.

 

I'm still not sure how much that closed loan is helping now, but the one year of loan repayment history prior to applying for any credit cards surely helped with my total starting credit limit of $8,500. I ended up getting 2 SP CLIs along the way, so I'm now at $13,500 total credit limit.

 

While I never let any card report above 9% utilization on any monthly statement for the past year, I did go well above that during several of the later months - sometimes as much as $5,000 on the Visa card. My original hypothesis stipulated never going above 9% utilization at any point in time.

 

I also found that I had to be at AZEO (1 of 2) to get these final scores. It wouldn't have been possible if both reported 8% to 9% utilization at the same time. 50% of cards with a balance definitely helps a lot with EQ/TU 8 scores and several others when you only have 2 cards. EX 8 has been really slow the past year, going from 699 to 735 over the course of a year.

 

I'm happy with the scores and credit limits I have now, although I need to get those mortgage scores up another +26pts to 760. I have a few more years to do that, so it shouldn't be a problem.

 

This is PART 1 of the table. PART 2 in a reply below.  (The whole table now exceeds the 20,000 character message limit due to changes in score factors on so many scores.)

CRADIS

"Zero INQ + AZEO"

01/10/2020

Common data

  • No derogatories
  • No delinquencies
  • 1 closed loan
  • 2 open revolving
  • Mastercard [$2000 CL]
  • Visa Signature [$9000 CL]
  • PAYMENT HISTORY: EXCEPTIONAL
  • AMOUNT OF DEBT: VERY GOOD
  • CREDIT HISTORY LENGTH: POOR
  • AMOUNT OF NEW CREDIT: VERY GOOD
  • CREDIT MIX: VERY GOOD

Previous Report

12/10/2019

  • AoOA: 2 yr 0 mo
  • AAoA: 1 yr 4 mo
  • AoYA: 1 yr 0 mo
  • Mastercard Utilization: 9% [9.00%]
  • Visa Utilization: 8% [7.07%]
  • Aggregate Utilization: 8% [7.42%]
  • Accounts with Balances: 2 [100%]
  • 1 inquiry EQ
  • 1 inquiry EX
  • 1 inquiry TU

Current Report

01/10/2020

What changed?

  • AoOA: 2 yr 1 mo
  • AAoA: 1 yr 5 mo
  • AoYA: 1 yr 1 mo
  • Mastercard Utilization: 0% [0.00%] 
  • Visa Utilization: 6% [5.99%]
  • Aggregate Utilization: 5% [4.90%]
  • Accounts with Balances: 1 [50%]
  • 0 inquiry EQ
  • 0 inquiry EX
  • 0 inquiry TU

Major changes:

  • Dropping all scorable inquiries
  • 1 of 2 cards with a balance (AZEO)
  • Aggregate 5% ($539 total revolving balance) which made 'High Revolving Balances' disappear from score factors on some scores.

 

New statement balances recorded at all 3 CRA's between 1/1 and 1/10. Score reports from myFICO's FICO Premier subscription, Credit Karma (TU/EQ VS3), American Express MyCredit Guide (TU VS3 score factors), and Credit.com (EX VS3).

12/10

Δ

01/10

FICO 8

EQ

719

+30

749

[Change]

Short credit history, No recent loan activity

 

Short credit history, No recent loan activity, Too many accounts with balances

FICO 8

TU

731

+23

754

[Change]

Short credit history, No recent loan activity, Short revolving credit history, Too many accounts with balances

 

Short credit history, No recent loan activity, Too many accounts with balances, Too many inquiries last 12 months (only 1 inq)

FICO 8

EX

732

+3

735

 

Short credit history, No recent loan activity

FICO 9

EQ

730

+25

755

[Change]

Short credit history, No recent loan activity, Short revolving credit history, Too many accounts with balances

 

Short credit history, No recent loan activity, Too many accounts with balances, Short revolving credit history

FICO 9

TU

725

+35

760

[Change]

Short credit history, No recent loan activity, Short revolving credit history, Too many accounts with balances

 

Short credit history, No recent loan activity, Too many accounts with balances, Short revolving credit history

FICO 9

EX

742

+12

754

[Change]

Short credit history, No recent loan activity, Short revolving credit history, Too many accounts with balances

 

Short credit history, No recent loan activity, Too many accounts with balances, Short revolving credit history

FICO 5

EQ

724

+12

736

[Change]

Short credit history, Short revolving credit history, High revolving balances, Heavy use of revolving credit

 

Short credit history, High revolving balances, Short revolving history, Seeking credit

FICO 4

TU

728

+12

740

 

Short credit history, No recent loan activity, Recently opened new credit account, High revolving balances

FICO 2

EX

711

+23

734

[Change]

Short credit history, Short revolving credit history, No recent loan activity, Too many accounts with balances

 

Short credit history, Short revolving credit history, Seeking credit, High revolving balances

Auto 8

EQ

694

+31

725

[Change]

Short credit history, No recent loan activity, Short installment credit history, Short revolving credit history

 

Short credit history, No recent loan activity, Too many accounts with balances, Short installment credit history

Auto 8

TU

721

+27

748

[Change]

Short credit history, No recent loan activity, Short revolving credit history, No recent auto loan activity

 

Short credit history, No recent loan activity, Too many accounts with balances, Seeking credit

Auto 8

EX

720

+3

723

[Change]

Short credit history, No recent loan activity, Short revolving credit history, Few accounts paid on time

 

Short credit history, No recent loan activity, Few accounts paid on time, Short revolving credit history

Auto 9

EQ

737

+29

766

[Change]

Short credit history, No recent loan activity, Short revolving credit history, Too many accounts with balances

 

Short credit history, No recent loan activity, Too many accounts with balances, Short revolving credit history

Auto 9

TU

728

+39

767

[Change]

Short credit history, No recent loan activity, Short revolving credit history, No recent auto loan activity

 

Short credit history, No recent loan activity, Too many accounts with balances, Short revolving credit history

Auto 9

EX

751

+15

766

[Change]

Short credit history, No recent loan activity, Short revolving credit history, Too many accounts with balances

 

Short credit history, No recent loan activity, Too many accounts with balances, Short revolving credit history

Bankcard 8

EQ

720

+35

755

[Change]

Short credit history, No recent loan activity, Short revolving credit history, Too many accounts with balances

 

Short credit history, No recent loan activity, Too many accounts with balances, Short revolving credit history

Bankcard 8

TU

735

+32

767

[Change]

Short credit history, No recent loan activity, Short revolving credit history, Too many accounts with balances

 

Short credit history, No recent loan activity, Too many accounts with balances, Seeking credit

Bankcard 8

EX

737

+6

743

[Change]

Short credit history, No recent loan activity, Short revolving credit history, Few accounts paid on time

 

Short credit history, No recent loan activity, Too many accounts with balances, Few accounts paid on time

Bankcard 9

EQ

739

+26

765

[Change]

Short credit history, No recent loan activity, Short revolving credit history, Too many accounts with balances

 

Short credit history, No recent loan activity, Too many accounts with balances, Short revolving credit history

Bankcard 9

TU

736

+35

771

[Change]

Short credit history, No recent loan activity, Short revolving credit history, Too many accounts with balances

 

Short credit history, No recent loan activity, Too many accounts with balances, Short revolving credit history

Bankcard 9

EX

751

+12

763

[Change]

Short credit history, No recent loan activity, Short revolving credit history, Too many accounts with balances

 

Short credit history, No recent loan activity, Too many accounts with balances, Short revolving credit history

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

Keeper of the Scrolls of ResilienceEQ FICO Resilience Index Score Leaderboard

45 forum members have shared this new credit score. Share yours today!

Message 102 of 109
Highlighted
Valued Contributor

Re: The 'All At Just Under 8.99% Utilization' experiment

PART 2 of the End of Experiment update. ( PART 1 in a reply above. )

 

Auto 5

EQ

732

+11

743

[Change]

Short credit history, Short revolving credit history, High revolving balances, Recently opened new credit account

 

Short credit history, High revolving balances, Short revolving credit history, Seeking credit

Auto 4

TU

716

+12

728

[Change]

Short credit history, Recently opened new credit account, No recent loan activity, High revolving balances

 

Short credit history, No recent loan activity, Recently opened new credit account, High revolving balances

Auto 2

EX

689

+21

710

[Change]

Short credit history, Short revolving credit history, No recent loan activity, No recent auto loan activity

 

Short credit history, Short revolving credit history, No recent loan activity, High revolving balances

Bankcard 5

EQ

725

+14

739

 

Short credit history, Short installment credit history, High revolving balances, Short revolving credit history

Bankcard 4

TU

757

+12

769

 

Short credit history, No recent loan activity, Recently opened new credit account, High revolving balances

Bankcard 2

EX

720

+20

740

[Change]

Short credit history, Short installment credit history, Short revolving credit history, Too many accounts with balances

 

Short credit history, Short revolving credit history, High revolving balances, Seeking credit

FICO 3

EX

749

+14

763

[Change]

Short credit history, Short revolving credit history, Recently opened new credit account, High revolving balances

 

Short credit history, Seeking credit, Short revolving credit history, High revolving balances

VS3

EQ

746

+1

747

VS3

TU

744

+2

746

[Change]

The date that you opened your oldest account is too recent, Lack of sufficient credit history, Lack of sufficient relevant real estate account information, The total of all balances on your open accounts is too high ($539 of $11,000)

 

The date that you opened your oldest account is too recent, Lack of sufficient credit history, Lack of sufficient relevant real estate account information, You have too many accounts that were opened recently

VS3

EX

746

+1

747

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

Keeper of the Scrolls of ResilienceEQ FICO Resilience Index Score Leaderboard

45 forum members have shared this new credit score. Share yours today!

Message 103 of 109
Highlighted
Super Contributor

Re: The 'All At Just Under 8.99% Utilization' experiment

Congratulations!

Did you consider average age of revolving accounts while going through this?

Might be time for SP CLI on M/C!
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.


RIP:

Oldest/average age varies by bureau. Estimates above.


Updated Oct 2020, unless otherwise noted.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (Mature/young), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/mature/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 104 of 109
Highlighted
Valued Contributor

Re: The 'All At Just Under 8.99% Utilization' experiment


@Birdman7 wrote:
Congratulations!

Did you consider average age of revolving accounts while going through this?

Might be time for SP CLI on M/C!

My AAoRA is the same as AoYA since both cards were opened within a few days of each other in late December. I'll watch it more closely after I get a 3rd card. If I did that this month, my AAoRA would be 29mo/3 (9mos) in February. That would drop below 1year.

 

Yeah, it's definitely time to see about the Mastercard CLI. It's from a relatively small credit union, and I think they might want to hard-pull my TU8 score.

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

Keeper of the Scrolls of ResilienceEQ FICO Resilience Index Score Leaderboard

45 forum members have shared this new credit score. Share yours today!

Message 105 of 109
Highlighted
Super Contributor

Re: The 'All At Just Under 8.99% Utilization' experiment

Yeah I was aware they were the same. But I just wonder if it had an effect on anything at anytime.

Sometimes the HP is worth it. But considering your thin profile and what your inquiry costs, it might be time to get that third card. Maybe get a CLI on TU and another card or 2 on either EQ or EX? It will improve your scoring in the long run. And allow you to run tests at less than 50% of accounts with a balance. Maybe break out of that thin profile?
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.


RIP:

Oldest/average age varies by bureau. Estimates above.


Updated Oct 2020, unless otherwise noted.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (Mature/young), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/mature/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 106 of 109
Highlighted
Valued Contributor

Re: The 'All At Just Under 8.99% Utilization' experiment


@Birdman7 wrote:
Sometimes the HP is worth it. But considering your thin profile and what your inquiry costs, it might be time to get that third card. Maybe get a CLI on TU and another card or 2 on either EQ or EX? It will improve your scoring in the long run. And allow you to run tests at less than 50% of accounts with a balance. Maybe break out of that thin profile?

lol You're worse than Credit Karma with the new card suggestions! "How about a shiny new card?!" ...you know I'm just kidding.

 

Your advice is well received. Take the HP for the CLI if necessary, and add Amex BCE and Discover IT. I might not make it through this week without doing all that.

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

Keeper of the Scrolls of ResilienceEQ FICO Resilience Index Score Leaderboard

45 forum members have shared this new credit score. Share yours today!

Message 107 of 109
Highlighted
Super Contributor

Re: The 'All At Just Under 8.99% Utilization' experiment

If only I got the kickbacks credit karma gets!!! LOL!!
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.


RIP:

Oldest/average age varies by bureau. Estimates above.


Updated Oct 2020, unless otherwise noted.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (Mature/young), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/mature/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 108 of 109
Highlighted
Moderator Emeritus

Re: The 'All At Just Under 8.99% Utilization' experiment


@Birdman7 wrote:
If only I got the kickbacks credit karma gets!!! LOL!!

No doubt, would totally be retired with that sort of passive income.




        
Message 109 of 109
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