@1LostArk wrote:
@SouthJamaica wrote:The FICO 8 from experian.com? If so, that's a reliable score. So it means there's some change between the new report and the old report. You just need to analyze the 2 reports carefully side by side to see what changed.
Individual account utilization does have an impact, but going from 5% to 20% on a single account wouldn't account for 30 points.
Maybe you're bouncing between all-zero-except-one and all-zero, thus toggling the "all zero penalty". Since Chase immediately reports a zero balance.
I just have all my cards set to auto pay the statement balance. I do tend to use most of my cards at least once per month, but since my statement periods are all over the place, it ends up that there's almost always a balance being reported on all my cards. Now that you mention it, I do think the times when my score is higher coincides with when a lot of my cards have a $0 statement balance. Not sure if it's worth the bother to me to micro manage, just leaving everything on auto pay and forgetting about it seems to be good enough. Next time I need a mortgage maybe just put all my spend on a single card for a couple months?
Spending on cards do nothing to scores. Yes it looks good to lenders for CLI's. Its whats reported each month. You got $100,000 in credit and charge up to $99,990 or $500 in credit and charge up to $499. Long as 1 account reports <8.99%. Thats all that matters before your next mortgage app or any app for best scoring.
Yes, I should have been clearer, I meant put all spend one one card so only one is reporting a balance
