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Update: FICO2 experiment (is it worth it?)

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Super Contributor

Re: Is it worth the effort: AZE2vs 3 (w/ AU) on FICO 2?

Awesome!!! 750? From 703? Smiley Happy 47 points you earned!!! VERY well done! Smiley Happy

The line is known for one set, 35K; its the other that's somewhere btw 25-30K. I just don't recall off the top of my head which is which, and I've been pretty exhausted and lazy, so I didn't look it up, TBH. I guess I'll go check.

What makes you so sure EX2 is seeing it for utilization? We know it always counts toward number of accounts/revolvers with a balance; I told you it would be worth hitting that last threshold (20%) on # of revolvers with a balance! Worth 11 more points! Yay! So yeah, I think it was worth the special meal and whatever else you prepared, LOL! Smiley Happy

I'm glad to see the retail balance is luckily stopping the "no revolving balance" penalties everywhere, and it didn't even give you a half penalty as it has done to me in the past (but I think that was on 8).

I think the retail is counting fine luckily on EX2, I'd say go for it after, didn't you say an inquiry was about to fall off? Do NOT put a balance on Citi, you'll reverse the 11 points you just got from going to 1/8 and worked so hard for.

Enjoy the fruits of your labor, very proud of you, 47 points on EX2 is exemplary! I think I'm more excited than you! LOL!

-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Oct 2020 New Account Scorecard.Nov 2020, No New Account Scorecard (reassignment conflated with aging. EX9 not updated yet. Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.


RIP:
(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 71 of 100
Highlighted
Senior Contributor

Re: Is it worth the effort: AZE2vs 3 (w/ AU) on FICO 2?

I dropped an INQ last month - my next EX inq drop isn't until March, though several will "fall off" (2 years) in Jan/Feb.

I have some significant (non-cat) spend coming up in January, so I wanted to get a card before then to maximize my rewards and/or hit an SUB if possible (this card has one currently).


No worries on Citi!  I would have to go out of my way to post a balance and since it's not a rewards card, it lives in the SD   Nothing interesting should happen on any cards until the 16th or so (my Chase; AU Chase reports the 27th), and I will be apping before then.

 

So the original reason for the post was: Is AZEO worth the extra effort if an AU is involved for FICO2?
I think we'd agree the answer is yes.

I got a final 11 points (at least) from the AU reporting 0.  If AZE1/2 had a negligable difference, it would've been different, but I hope to reap the rewards of the extra 11 points.   If I were apping for something more serious (a mortgage vs a card I don't strictly need), it would definitely be worth more effort.    If AU was a card that had a significant balance that couldn't be brought to 0, it might be a different story.  The fact that it's a Chase card which is really easy to make report 0 seals the deal.

30%/AZEO with 3 cards is such common thread through the forums, I wasn't sure that less than 25% reporting would be "worth it," so I'm glad I went ahead and caved to the greater wisdom of the forums.   

 

 




F8 EQ: 804 | EX: 794 | TU: 801 | Accounts: 2/6 4/12 8/24
Happy practitioner of AZE9or10or11 | Team Finances > FICO
Message 72 of 100
Highlighted
Super Contributor

Re: Is it worth the effort: AZE2vs 3 (w/ AU) on FICO 2?

@calyxDarn right! Definitely worth it, that's going to definitely assist with a better SL and APR!

Look forward to your approval and learning just how well they treat you! ..hehe...47 points worth of better treatment, VERY significant. Oh, you will reap the rewards from it, I have no doubt!

Naw, you were asking AZE2 vs. AZE3 w/ AU. Smiley Wink Took some arm-twisting (and grumbling, LOL) to get you to go down to AZEO....LOL, then you had to finagle, including dinner and what all else to make it happen?! LOL!

Oh, and I'm sure it would've been 11 points AZE2 > AZEO regardless of whether it was the AU - only difference is the Version 8 hit from the AU @ 0.

If the AU had had a significant balance, it would have had to have been the AZEO card. IMHO, the number of accounts with a balance is more significant than utilization in EX2 (unless the single card was maxed maybe).

Yes, the "only need 3 cards to optimize" is a common misconception. There's the 20% line (not 25% Smiley Wink ) and you can't reach it with only 3 cards. So that's why I recommend one have at least 5 cards, so one can hit the 20% line, like you just did (and it being worth 11 points, it's significant). Wonder what the range is on other scorecards?

-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Oct 2020 New Account Scorecard.Nov 2020, No New Account Scorecard (reassignment conflated with aging. EX9 not updated yet. Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.


RIP:
(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 73 of 100
Super Contributor

Re: Is it worth the effort: AZE2vs 3 (w/ AU) on FICO 2?

OK, the cutoff for EX2 is between 26K-29K:

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/quot-High-credit-usage-quot-vs-quot-High...

For the '04 family its 35K.

-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Oct 2020 New Account Scorecard.Nov 2020, No New Account Scorecard (reassignment conflated with aging. EX9 not updated yet. Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.


RIP:
(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 74 of 100
Highlighted
Super Contributor

Re: Update: FICO2 experiment (is it worth it?)

@calyx When you pulling the trigger?
-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Oct 2020 New Account Scorecard.Nov 2020, No New Account Scorecard (reassignment conflated with aging. EX9 not updated yet. Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.


RIP:
(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 75 of 100
Highlighted
Senior Contributor

Re: Update: FICO2 experiment (is it worth it?)

@Birdman7 - I did it last week!  Got the approval yesterday, thread is here: https://ficoforums.myfico.com/t5/Credit-Card-Approvals/SDFCU-Premium-Cash-Back-Approval/m-p/5836215#...

 

As I was waiting, I decided to go ahead and pull the trigger on my final wishlist card, and they also pulled EX.

Funny enough:  FICO8 lost 7 points with the 2 inquiries (same day, so I don't know where the binning line is, if there is one), but not a peep out of FICO2 Smiley Wink




F8 EQ: 804 | EX: 794 | TU: 801 | Accounts: 2/6 4/12 8/24
Happy practitioner of AZE9or10or11 | Team Finances > FICO
Message 76 of 100
Highlighted
Super Contributor

Re: Update: FICO2 experiment (is it worth it?)

No more AZEO worries for you! Wow I’m proud of you. You did great! Look at how far you came! 50 points basically AND got the lowest APR!! Yay! Very well done!

And apparently they’re a very hard nut to crack from what everybody says! But you cracked it wide open!
-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Oct 2020 New Account Scorecard.Nov 2020, No New Account Scorecard (reassignment conflated with aging. EX9 not updated yet. Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.


RIP:
(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 77 of 100
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Moderator Emeritus

Re: Update: FICO2 experiment (is it worth it?)


@calyx wrote:

@Birdman7 - I did it last week!  Got the approval yesterday, thread is here: https://ficoforums.myfico.com/t5/Credit-Card-Approvals/SDFCU-Premium-Cash-Back-Approval/m-p/5836215#...

 

As I was waiting, I decided to go ahead and pull the trigger on my final wishlist card, and they also pulled EX.

Funny enough:  FICO8 lost 7 points with the 2 inquiries (same day, so I don't know where the binning line is, if there is one), but not a peep out of FICO2 Smiley Wink


Hehe I'm also likewise guilty of typically doing sprees on the same day and so my binning data sucks other than a few datapoints that are concrete.

 

Wanted to say appreciate your data tracking and the pretty spreadsheet!

 

I haven't been zealously tracking my credit as of late as there are only fixed changes and my file is pretty much flatlined unless something material happens.  That said inching towards the 70% aggregate installment line between my mortgage + auto so at least I should be in a good spot to see that one.  70.9% as of yesterday haha, I appreciate others that are getting interesting data on less glacial time horizons.

 

Did manage to call my EX FICO 2 score spot on though for my goal at the end of the year, just ticked 780 today and don't think I get anything more come Jan 1st. Smiley Happy.  Not bad for a SWAG after the 30D late wandered away in April, it's the little things that keep life amusing haha, though balancing that out badly missed on EX FICO 8 and not understanding enough about AOYA.




        
Message 78 of 100
Highlighted
Super Contributor

Re: Update: FICO2 experiment (is it worth it?)

@Rev Hey, Hope you’re doing well. Yeah my binning data is no good either, because I do them on the same day as well.

Proud of @calyx! Did great!
-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Oct 2020 New Account Scorecard.Nov 2020, No New Account Scorecard (reassignment conflated with aging. EX9 not updated yet. Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.


RIP:
(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 79 of 100
Highlighted
Super Contributor

Re: Update: FICO2 experiment (is it worth it?)

@Rev Yeah 780 with a 30 day is exceptional indeed. Excellent job! Smiley Happy

What is the deal with AoYRA and the older versions? You know I determined loans are excluded from AoYA, but it doesn't appear AoYA is a thing on 5-4-2? Any ideas? Thoughts?
-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Oct 2020 New Account Scorecard.Nov 2020, No New Account Scorecard (reassignment conflated with aging. EX9 not updated yet. Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.


RIP:
(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 80 of 100
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