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What a con!!

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Super Contributor

Re: What a con!!


@babbles wrote:

no the other card did not report $979, both cards reported zero balance


That's the opposite of what you said in your original post.


Total revolving limits 719k (592500 reporting) FICO 8 scores: EQ 735 TU 782 EX 746
Message 31 of 49
Frequent Contributor

Re: What a con!!

Your correct but the one card with a balance, then statement closing date is 8 sep and I have gotten that $979 balance down to $15 over the last couple of days. I will continue with small balances as some have suggested.
Message 32 of 49
Super Contributor

Re: What a con!!


@babbles wrote:
Your correct but the one card with a balance, then statement closing date is 8 sep and I have gotten that $979 balance down to $15 over the last couple of days. I will continue with small balances as some have suggested.

What you've been saying between your original post and what you wrote above is very confusing.  It sounds like you had TWO credit cards, both with [non-zero] reported balances.  You paid one off and therefore had ONE card with a [non-zero] reported balance.  The second card you said had a $979 balance, then a $15 balance.  The number doesn't matter, as long as it isn't $0.  You need to confirm this.  If the number (balance reported) on the second card was anything other than $0 at the time you paid off the first card that you posted about, your Fico scores did not drop from the balance paydown as SJ stated a few posts back.

Message 33 of 49
Frequent Contributor

Re: What a con!!

thanks  that's about what the others said

Message 34 of 49
Super Contributor

Re: What a con!!

So, still no confirmation then regarding the balances...

Message 35 of 49
Frequent Contributor

Re: What a con!!

Currently,  zero on  one  card  and $15 on  the other.  Card with the $15 balance - the statement  closing date  is the 8th of the  month and they report across the board  almost immediately.  I will start leaving a small balance  on at least  one  of  them and for that matter, now I have to contend with a  paypal account with an $8400 limit and  no balance  that will start  reporting in either Sep or Oct. which means those of us with these accounts  will take a hit for a new credit card account.

Message 36 of 49
Super Contributor

Re: What a con!!


@babbles wrote:

Currently,  zero on  one  card  and $15 on  the other. 


So then, circling back to the original post/question where you were upset about your scores dropping 25 points from paying the one card to zero, you now know that your score didn't drop at all from that paydown; you had another card with a $15 reported balance which would have prevented that from being possible.

Message 37 of 49
Valued Contributor

Re: What a con!!

Yeah I’ve been confused the whole thread because I’m trying to figure out how you get the all zero penalty when you’ve got one card with a balance.

Furthermore it doesn’t take a month or two of using AZEO to get your scores back. the moment the balances report on your credit report, the points will come back. The moment all revolvers go to zero the points will go away. the same amount will go and come unless other factors change.

It’s a moment in time penalty and when revolvers are zero, you take a ding, as soon as a dollar balance reports, you get the same number of points back. I’ve tested this many many many times.

As the other said above, if you had a balance on one card when you saw that ding, it was not from the all zero penalty.







Installment loan reported this month,so technically, I'm at 2 months, but AoYA points were NOT reset. When new CCs hit and it is reset, I'll put the number it is.+1,+2,+2(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated AUG 4, '19. Since then, 5 HP dings to add; will update again.
Message 38 of 49
Frequent Contributor

Re: What a con!!

my apologies for the confusion,

 

bottom line is both cards are reporting  zero balances currently(NFCU and USAA) to credit files

 

I took the hit when  NFCU's  $1 balance went to zero   ( lost  about 15 points across the board immediately)   at  that point both cards were reporting zero balances

 

USAA's   statement ending date is the 8th and they report immediately

 

current balance is $30 and  limit is $1500  ( actively using)

 

NFCU balance is $7 and limit is 30k, statement ending date is 21st and they report about the  24th

actively using as well

 

 

 

I guess I could throw in:

 

any  day  now "PAYPAL"   could start  reporting now as a new  account since june 2019n instead of 12 years ago according to  syncrony that took over paypal:

 

$6.95 balance and $8400 limit

 

 

not sure this will clear things up but now I understand my mistake was thinking zero balances wouldn't affect me too much,  

so it wasn't a "con" I just didn't understand the game!

 

 

 

 

 

 

Message 39 of 49
Valued Member

Re: What a con!!


@babbles wrote:

 

 

 

 

I guess I could throw in:

 

any  day  now "PAYPAL"   could start  reporting now as a new  account since june 2019n instead of 12 years ago according to  syncrony that took over paypal:

 

$6.95 balance and $8400 limit

 

 

 

 

 

 

 

 

 


I seriously hope not in regards to paypal credit. My next paypal statement cuts on sept 8th. Since Sync stated "may" report to credit bureaus, it is not definitely will report or not.  Maybe we will be "grandfathered" as long we keep the account active. So far no reporting yet. 

Message 40 of 49
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