Only one derog left under 2 years; nice score jumps!

[haulingthescoreup]

The next-to-last derog hit 2 years old today (a 30-day), and EX jumped 7 points and TU jumped 24! That's just crazy. I'm waiting out ScoreWatch in hopes of an alert, so don't know if there's anything going on there. No other changes between today's reports and the last score pulls, except that the number of accounts with balances actually went up, from 4 to 5. (See, that right there is an advantage of pulling frequently, if you have a really insatiable curiosity.)

The sad thing is that EX seems to have started counting my HELOC in revolving, so I've joined MV, it looks like.

So those of you with derogs within the last two years, hang in there --it seems to really make a difference as they go over two years. It'll be next March before the very last derog (ever!) goes over 2 years, so that will be a long, long wait.


edit to add: A-ha! and I just realized that my oldest account went from 18 years 11 months to 19 years. Maybe I lurched back into my most recent bucket? I live in bafflement...

Message Edited by haulingthescoreup on 06-01-2008 06:20 PM

[RobertEG]

hauling, congrats!

As an aside, I extracted a minor tidbit from your post, and am puzzled.  In their recent webinar, FairIsaac stated  that a HELOC, even though it might be listed in a CR as revolving, is always scored in FICO as mortgage installment, and not revolving.  Experience?

[haulingthescoreup]

MV's EX score is consistently lower than the other two, with the only difference being that they list his HELOC balance in revolving. Mine has always been listing in revolving for EX too, but I thought it was immune from a scoring hit because of the $50K CL.

But this most recent pull had "too high util" on EX as a first-time ever negative. My true revolving util is $6,675 / $88,700 = 7%, so I'm having to assume that they're factoring in the HELOC. Since it's EX, it doesn't show what they think my percentage is, but I doubt seriously that 7% util would be considered a negative. Even if myFICO Experian had decided to start using FICO 08 today and didn't count the AU account, that still just changes my util to not quite 9%.

So it's all deductions, but this is what I'm afraid is happening. Other theories welcome!


edit to add: with the balance on the HELOC factored in, util would be 29.8%.

Message Edited by haulingthescoreup on 06-01-2008 06:32 PM

[Anonymous]

This is EX's way to say "too many accounts with a balance"

I am only a few months from my 2 years-

3 accounts had birthdays today-

Down to 10 "new" accounts  

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haulingthescoreup wrote:
MV's EX score is consistently lower than the other two, with the only difference being that they list his HELOC balance in revolving. Mine has always been listing in revolving for EX too, but I thought it was immune from a scoring hit because of the $50K CL.

But this most recent pull had "too high util" on EX as a first-time ever negative. My true revolving util is $6,675 / $88,700 = 7%, so I'm having to assume that they're factoring in the HELOC. Since it's EX, it doesn't show what they think my percentage is, but I doubt seriously that 7% util would be considered a negative. Even if myFICO Experian had decided to start using FICO 08 today and didn't count the AU account, that still just changes my util to not quite 9%.

So it's all deductions, but this is what I'm afraid is happening. Other theories welcome!


edit to add: with the balance on the HELOC factored in, util would be 29.8%.

Message Edited by haulingthescoreup on 06-01-2008 06:32 PM

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[haulingthescoreup]

So on EX,

You've made heavy use of your available revolving credit.

Your FICO score evaluates your total revolving credit [?] balances in relation to your total credit limits on those accounts. In your case, this ratio of balances to credit limits is too high.

means too many accounts with balances? That is just bizarre. But I guess I'll take it.

But seriously, 5 accounts out of 15 is "too many"?

[smallfry]

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@haulingthescoreup wrote:
So on EX,

You've made heavy use of your available revolving credit.

Your FICO score evaluates your total revolving credit [?] balances in relation to your total credit limits on those accounts. In your case, this ratio of balances to credit limits is too high.

means too many accounts with balances? That is just bizarre. But I guess I'll take it.

But seriously, 5 accounts out of 15 is "too many"?

---

Sounds to me like they are counting the heloc in the revolving. Too many accounts with balances would be too many accounts with balances. Even FICO isn't that mysterious. Nice score pop hauling. I hope EQ likes you more than they like me. Good luck. Give it a few days. My EQ has been running way behind even my TU reports the last few months. Seems like they are spending all their time on that snappy new website.

[MidnightVoice]

haulingthescoreup wrote:

The sad thing is that EX seems to have started counting my HELOC in revolving, so I've joined MV, it looks like.

Welcome to the "EX hates me" Club 

I discovered this because I have Credit Secure from Amex, and the credit summary lists total of revolving debt and total of mortgage debt.  And EX counts my HELOC as revolving (the difference is obvious) AND counts the highest balance as the CL, not the actual CL

[haulingthescoreup]

---

@MidnightVoice wrote:

@haulingthescoreup wrote:

The sad thing is that EX seems to have started counting my HELOC in revolving, so I've joined MV, it looks like.

Welcome to the "EX hates me" Club 

I discovered this because I have Credit Secure from Amex, and the credit summary lists total of revolving debt and total of mortgage debt.  And EX counts my HELOC as revolving (the difference is obvious) AND counts the highest balance as the CL, not the actual CL

---

What really baffles me is that I've had the same high-ish balance for a while, and I've never ever been scolded by EX for it. So why now?

Maybe one possibility is that there is (God help us) yet another score bucket for oldest account 19 years and more, and in these giddy heights, even 7% is frowned upon.


edit to add: Whoa, just noticed this:

"And EX counts my HELOC as revolving (the difference is obvious) AND counts the highest balance as the CL, not the actual CL"

You mean you (and maybe I) get the double whammy??

Message Edited by haulingthescoreup on 06-02-2008 09:00 AM

[Anonymous]

My CU reported my HB at the CL on day 1 the reported it.

SO I would not know if this was applicable to me.

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haulingthescoreup wrote:

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MidnightVoice wrote:

haulingthescoreup wrote:

The sad thing is that EX seems to have started counting my HELOC in revolving, so I've joined MV, it looks like.

Welcome to the "EX hates me" Club 

I discovered this because I have Credit Secure from Amex, and the credit summary lists total of revolving debt and total of mortgage debt.  And EX counts my HELOC as revolving (the difference is obvious) AND counts the highest balance as the CL, not the actual CL

---

What really baffles me is that I've had the same high-ish balance for a while, and I've never ever been scolded by EX for it. So why now?

Maybe one possibility is that there is (God help us) yet another score bucket for oldest account 19 years and more, and in these giddy heights, even 7% is frowned upon.


edit to add: Whoa, just noticed this:

"And EX counts my HELOC as revolving (the difference is obvious) AND counts the highest balance as the CL, not the actual CL"

You mean you (and maybe I) get the double whammy??

Message Edited by haulingthescoreup on 06-02-2008 09:00 AM