@Thomas_Thumb wrote:The minimal point gain for reducing # of cards with balances is not unexpected on Fico 8.
Do you have an open mortgage on file? If so, it mutes impact of high card utilization. When I still had a open mortgage I reported an individual card utilization of 75% with no loss of points on EW/TU/EX Fico 8 when aggregate UT was kept under 9%. What was your aggregate utilization before/after the card paydowns.
BTW- Your 89% card was subject to a max out penalty. Also, the "too many accounts with balances" includes non revolving accounts.
I had that statement with one mortgage and 2 cards reporting balances (an AU card an an AMEX charge card). At the same time I had a no recent revolving account activity penalty on Fico 8.
I have no auto, mort or personal loans at the moment....I will get a Mort loan as soon I feel real estate has settled down here in Az and the flippers go away...
Not sure what 89% card you are speaking of? As they were 75% 78% and 67% UTI for account with balances, before they went down? I pulled the lastest scores for all 3
I am close to getting to AZEO but I am wondering if that is even worth it for me...Seems EQ and TU want to stay below 800
I am convinced that my CFA loan with Sofi that has been closed for 2 years now, is hindering my pt gains.
Ex is not bothered by any of the changes I have made and has stayed at 801, EQ is now at 802 likes where I am at now, TU has statyed the same at 799 and doesnt want to budge...
For now, the "Too many accounts with balances" code seems to be gone, But on other Fico credit scores like Bankcard Score 8 now I see
"Few accounts paid on time"
Having micromanaged this process for the past month, sometimes these scores are a joke and even if you try to do good by Fico, you are penalized in different ways....I have decided to not use some of my cards and keep UTI as it is above and just let it be...