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.
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