Credit Card Center Advertiser Disclosure†
05-19-2017 07:52 AM
Hi, I new to myFico and I'm glad I found it.
I have no late pays etc. but have high utilization and cards opened about six months ago. Didn't know the hit it would have. mid 600's on Fico 8. Well, Ive got it down to about 53% and Fico 8 scores went up to 693/710/715.
So I checked mortgage scores...TU went up +25 on Fico 8 to 715....but TU stayed EXACTLY the same Fico 4. 663 middle score before and 663 middle score after.
Anyone else have this happen, or could myFico report be off? New report showed increased TU fico 8 score, but same TU Fico 4 score. Bummed.
Thanks in advance. Glad I found you guys (and gals)
05-19-2017 08:51 AM
So when you sign up for the 3B report monitoring you get all your scores as they stand that day. From that day on, you get live updates of ONLY your FICO08 score. If you view your FICO04 (or any other) you should notice that the date it referenced is the original data the 3B report was pulled.
Not sure if that's your issue or not but it confused me at first. You will see FICO08 updates as they happen but in order to see any changes to FICO04 or other scoring models, you need to wait until your next 3B refresh. For 3B Ultimate, this is once per 3 months. For 3B Premier (which I don't think is offered anymore) then it is once per month.
05-19-2017 09:04 AM
Maybe this is clearer.
5/12/17 3B report: TU Fico 8: 685 TU Fico 4: 663
Paid for new 3B report. EVERY Fico score on new report increased considerably.
5/18/17 New 3B report: TU Fico 8: 710 TU Fico 4: 663
Both other mortgage scores improved, but TU 663 score and same and is still the middle score. It didn't move
05-19-2017 10:53 AM
Information may be a bit different on your TU report. Get a copy of your reports to make sure the information on all of your reports are the same.
05-19-2017 03:29 PM - edited 05-19-2017 03:31 PM
Actually, and this sucks but it's probably what is occurring: it's simply likely the utilization breakpoints are slightly different on TU 04 vs. TU 8. They aren't the same necessarily between bureaus either.
Paying down utilization is a good thing on any FICO score, but that doesn't mean that the same paydown will produce the same magnitude result, or even produce a result at all on different models... it's awkward unfortunately, and TU 04 is probably the least well characterized score out of any of the major scores from a data perspective.
Basically revolving utilization when we're talking individual or aggregate (or actually numbers of tradelines with balances too) is all about percentages and breakpoints... if you don't reduce your percentage on whatever the metric is to something under a new breakpoint in the given FICO score, there will be no change. Conversely similar if you don't increase it over a breakpoint, no change.
To give an older example from my own file when I was playing with it a while back on EQ Beacon 5
1% utilization = 660
13% utilization and a maxxed tradeline = 646
27% utilization and a maxxed tradeline = 646
The first two utilization aggregate breakpoints are held to be 10% and 30% there, but when we start talking 50% and higher our data isn't as good TBH.
If you post your balances and limits for each card, and how much money you have to work with, we can optimize a strategy for paying things off to try to maximize scoring benefit.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.