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Regular Contributor
ecalmese
Posts: 153
Registered: ‎01-24-2013
0

Re: Rebucketing?


Duncanrr wrote:

My understanding is that as you increase (or hopefully not decrease) your scores you are bracketed/bucketed into a population of people with similar scores.  For example you may be in the subprime group with people who have bad credit.  As your score improves, you are removed from this population and normalized into another group of people you typically have higher scores than your last group.  (think of it as going from JV to Varisty).  As a result, your scores tend to take a hit as you are now compared to people that will typically have higher scores than you.  The benefit is that in the new bucket your scores are supposed to normalize with the rest of the group in a quicker fashion.  This results in quicker gains (and/or loses) to your scores.

 

Someone let me know if my understanding of this concept is off.

 

Duncan


As you move up in score cards and the score drops; how long does it typically take to recover and go back up if you continue on your pace to credit improvement (assuming one doesnt do anything to trash their credit again)?

Started January 2013 in the lower 500s
Scores (as of January 2014) Equifax 630 | Experian 646 | Transunion 674
With the help of you all; I am working my way to the 700 club!
Valued Contributor
Duncanrr
Posts: 2,841
Registered: ‎06-08-2012
0

Re: Rebucketing?

My understanding, from reading about other people's experiences is that it can take 3-6 months but its a ymmv kind if thing.


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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Senior Contributor
youngandcreditwrthy
Posts: 6,204
Registered: ‎08-16-2012
0

Re: Rebucketing?

I seem to have reached a low 700 level I can't seem to break, but alas I've not been inq/new accout free but for 6 months, still 3 yr aaoa though!;-)
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Frequent Contributor
OptimalCS
Posts: 405
Registered: ‎07-31-2010
0

Re: Rebucketing?

Time heals old wounds. 

CARDS.jpg

Established Contributor
cashnocredit
Posts: 1,013
Registered: ‎07-18-2009
0

Re: Rebucketing?

Rebucketing changes the weight of factos such as AAoA, Utilization, and number of cards reporting a balance. In my case when my oldest account reached 4 years my FICO plunged from 750s to 690 without any other changes. The reason, which became apparent over the following weeks, was the new scorecard (bucket) weighs the number of cards with zero balances very heavily and the earlier bucket didn't. Since all my cards had small, but non zero balances at the time my FICO dropped like a rock. This makes sense since when you first have credit you are likely to use all your cards and utilization counts more heavily then. I fully recovered simply by adding a new account and zeroing another account. In all cases my util was low.

 

Remember, the percentages that each publsihed factor has is a global average. Buckets each have their own weights which can deviate from the averages. So, if you are rebucketed just try different things to see what the FICO score is most sensitive to in the new bucket.

 

 

I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy15k, Amex Plat (60k H/B), Citi AA EWMC 25k
Valued Contributor
AndySoCal
Posts: 1,895
Registered: ‎04-07-2009
0

Re: Rebucketing?

The bucket used to give you a score is based on your credit characteristics. The each score model has several buckets to accomplish the socring. You can go to FICO.com and look at scores. What the forum calls buckets are called scorecards on FICO and elsewhere.  As your credit profile changes the scorecard or bucket used  may change as well..

Equifax My FICO score 815 5/28/2012, 818 on 7/28/2014 . Average of Accounts 12 years and no Installment accounts. MyFICO TU 810 6/26/2012 809 4/21/2013 MyFICO XPN -805. 2/26/2014 Discover TU FICO 813 App free since 9/2011
Valued Contributor
notfancy
Posts: 3,679
Registered: ‎11-23-2013
0

Re: Rebucketing?

Hate to bump and aged thread, but this is a very helpful read! I'm glad Lexie referred to it in another post. I learned something and when I get home later, I'll have the time and desire to read all of this thoroughly!

625 EQ FICO Current Score: 660 DCU EQ FICO/ 645 Scorewatch EQ FICO , EX FICO 664, TU FICO 737 (08/2014)
Goal Score: 700   Seedling again as of 07/29/14
Frequent Contributor
Kratos-TM
Posts: 429
Registered: ‎05-23-2013
0

Re: Rebucketing?

Complicated stuff.....but good to know for when these weird score changes occur. I'm gonna assume that 98% of America have no idea what "bucketing" is......LOL>

Myfico scores.....
EX... 805 (11-10-13)
EQ... 810 (12-02-13)
TU... 810 (12-02-13)
Senior Contributor
drkaje
Posts: 3,491
Registered: ‎07-25-2008
0

Re: Rebucketing?

I feel the bucketing system favors lenders.


Starting Score: 675
Current Score: EX 754 FICO, EQ 737FICO
Goal Score: 776 FICO


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Frequent Contributor
Stralem
Posts: 454
Registered: ‎10-08-2011
0

Re: Rebucketing?

Very informative. I was trying to figure out why my January scores sank like the Titanic despite falling balances and increased limits when I remembered something about scorecards being discussed here. Now I feel a little less bummed out.

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