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Revelate
Moderator Emeritus

Re: Rebucketing


@Aahz wrote:

@Thomas_Thumb wrote:

 

SJ - You've got the gist of it. It's age of file = oldest account [not AAoA] as I thought at one time. Could be 8 years instead of 10 years but either way it's certainly more than 5 years Based on risk data, 10 years would be the logical choice.

 


Just an interesting note regarding the 10 year "line".  On the 3B report I pulled today I received the following Reason Codes for my TU 08 score-

 

Positive - "You have an established credit history."

- "YOUR OLDEST ACCOUNT WAS OPENED" 18 years ago

 

 

Negative - "You have not established a long revolving credit history."

- "YOUR FIRST REVOLVING ACCOUNT WAS OPENED" 10 years, 2 months ago

 

I have no idea what that means and am just leaving this as a datapoint because I found it interesting that 10 years 2 months is considered having "not established long rovolving credit history"


Plebian Smiley Happy.

 

How was that reason code ranked?  I'm making the blithe assumption you have a lofty score (please correct me if I'm wrong) and by the time a clean scorecard gets there the reasons become sort of meaningless as they have to tell you something until the absurdly high scoring files.




        
Message 31 of 37
Aahz
Established Contributor

Re: Rebucketing


@Revelate wrote:

@Aahz wrote:

@Thomas_Thumb wrote:

 

SJ - You've got the gist of it. It's age of file = oldest account [not AAoA] as I thought at one time. Could be 8 years instead of 10 years but either way it's certainly more than 5 years Based on risk data, 10 years would be the logical choice.

 


Just an interesting note regarding the 10 year "line".  On the 3B report I pulled today I received the following Reason Codes for my TU 08 score-

 

Positive - "You have an established credit history."

- "YOUR OLDEST ACCOUNT WAS OPENED" 18 years ago

 

 

Negative - "You have not established a long revolving credit history."

- "YOUR FIRST REVOLVING ACCOUNT WAS OPENED" 10 years, 2 months ago

 

I have no idea what that means and am just leaving this as a datapoint because I found it interesting that 10 years 2 months is considered having "not established long rovolving credit history"


Plebian Smiley Happy.

 

How was that reason code ranked?  I'm making the blithe assumption you have a lofty score (please correct me if I'm wrong) and by the time a clean scorecard gets there the reasons become sort of meaningless as they have to tell you something until the absurdly high scoring files.


Clean reports (full data in my other thread posted today at http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/MyFICO-3B-Update-Score-Datapoints-amp-of-... )

 

Second positive (after "You have no missed payments on your credit accounts.")

First negative.

TU FICO 08 is 744

 

Should have included this in my earlier post, but First EX Negative Reason and 2nd EQ Negative Reason was-

"You have a short credit history."

Oldest - 18 years, AAoA 4 years, 4 months

EQ Fico 08 is 737

EX FICO 08 is 719

Message 32 of 37
Revelate
Moderator Emeritus

Re: Rebucketing


@Aahz wrote:

@Revelate wrote:

@Aahz wrote:

@Thomas_Thumb wrote:

 

SJ - You've got the gist of it. It's age of file = oldest account [not AAoA] as I thought at one time. Could be 8 years instead of 10 years but either way it's certainly more than 5 years Based on risk data, 10 years would be the logical choice.

 


Just an interesting note regarding the 10 year "line".  On the 3B report I pulled today I received the following Reason Codes for my TU 08 score-

 

Positive - "You have an established credit history."

- "YOUR OLDEST ACCOUNT WAS OPENED" 18 years ago

 

 

Negative - "You have not established a long revolving credit history."

- "YOUR FIRST REVOLVING ACCOUNT WAS OPENED" 10 years, 2 months ago

 

I have no idea what that means and am just leaving this as a datapoint because I found it interesting that 10 years 2 months is considered having "not established long rovolving credit history"


Plebian Smiley Happy.

 

How was that reason code ranked?  I'm making the blithe assumption you have a lofty score (please correct me if I'm wrong) and by the time a clean scorecard gets there the reasons become sort of meaningless as they have to tell you something until the absurdly high scoring files.


Clean reports (full data in my other thread posted today at http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/MyFICO-3B-Update-Score-Datapoints-amp-of-... )

 

Second positive (after "You have no missed payments on your credit accounts.")

First negative.

TU FICO 08 is 744

 

Should have included this in my earlier post, but First EX Negative Reason and 2nd EQ Negative Reason was-

"You have a short credit history."

Oldest - 18 years, AAoA 4 years, 4 months

EQ Fico 08 is 737

EX FICO 08 is 719


Thanks!

 

A question, what were your scores pre-balance carrying?

 

I think the two factors may be looking at oldest account and then AAOA respectively; and I just read something recently where the short credit history negative went away at the 5 year mark.  4 years AAOA might not be any different than 2, crossing 2->3 did absolutely nothing for any of my scores for example and 4 years AAOA certainly isn't optimal... based on both revolving and installment utilization reason codes, wouldn't surprise me if that one stayed on there till you got to an optimal stage for AAOA, or certainly higher than where you are now.

 

Admittedly it's a non-trivial deal I suspect (that reason code) since it's been #2 for me on most scores, and my file historically has had plenty of things to pick on.




        
Message 33 of 37
LuckyBird
Regular Contributor

Re: Rebucketing


@Revelate wrote:

@LuckyBird wrote:

@Revelate wrote:

@Anonymous wrote:

Do we have any data points on when the sting from a 90 or 120 day late gets some ease within the 7 year time that it impacts score?  I'm also curious if it's impact lessens one time, say at the mid point or 3.5 years in or if it's something that every 12 months loses a little bit of impact.


Not great ones from what I've seen; JagerBomb's 800 to foreclosure thread is probably the best.

 

It won't be mid point and it won't be 12 months, if it exists it'll be an explicit line in the sand (like everything else in the FICO algorithm) as it's easy to calculate that way.  I will say that we did get one datapoint from an individual with a 90 day late nearing the exclusion period and he was at 785 FICO 8 which suggests it probably wasn't much of a factor unlike a PR/collection where absolute best we've seen is a 753 on an incredibly well optimized file.

 

 

I'm going to be pulling 1B TU reports as my 30 day late there ages across certain boundaries assuming I don't lose interest before then. Smiley Happy


Data point that may be helpful: 

 

I have a paid state tax lien from 2010.  I've been lowish- to mid-700's on all 3 bureaus for a long while (like 725 to 750ish), but about a month ago my EXP reached 812 where it remains now.  My oldest account is 22 years, AAOA 5 years 7 months.  I have 11 open revolving accounts and 2 open auto loan accounts, one of which is almost paid off, plus another paid off auto loan. No delinquencies on any accounts, ever.  Only 1 account less than 1 year old, 6 less than 2 years old.  The tax lien is the only neg.

 

My utilization was in the teens for a few months recently due to carrying a couple of large purchases at 0% for a while (I'm usually much lower - just use cards for everyday expenses and always PIF, but don't micromanage reporting).  When I paid these off and got back under 9% is when EXP took a sudden (60 point) jump.  Other scores are EQ 744 and TU 748.


That's kinda astonishing heh.  Is the tax lien disputed or any wierd remarks on the tradeline?  Color me skeptical on being that much higher as 800+ is generally held to be clean scorecard territory.

 

Then again I have a 780+ on EQ FICO 9 (or did pre last inquiry) which I haven't been able to fathom as it's tracking like a clean scorecard seemingly with my own tax lien, but I wonder if mine simply had something go sideways... and wonder the same of yours too.  In either event the 744/748 are no joke with a tax lien, I only got to 739 EX at my most optimized but your oldest account is way more impressive (if that matters in dirty scorecards) and your AAOA is probably past a second breakpoint in there somewhere.  820ish is where I'd sort of expect you to land once the tax lien was gone actually and 812 sorta seems reasonable for that level of estimation.

 

Appreciate the datapoint regardless!


The last time I saw an EXP report was May 4 and the tax lien was still there then, not disputed or anything.  I'm just waiting for it to age off.  I tried to get it off about 3 years ago and had no luck, so I've just been waiting it out.  Interestingly, it was filed in June of 2010, so this month it's 6 years old.  I was pretty astonished at the score jump, too...EXP was at 752 just prior to the jump.

I think I read somewhere (on here) that EXP is no longer getting 3rd party public record information (not sure if that's true), so I've wondered if they dropped it. The only report monitoring I have is the MF 3B pulls every 3 months & I don't really know of a way to pull another report until the next MF one in August.  Is there anywhere to get a free EXP report before then?

EDITED TO ADD:  Just pulled the annual free credit reports.  The lien is GONE from EXP, for both myself and my husband.  It remains on the other 2 bureaus for both of us.  So, Revelate...you were correct that this is where I would've landed when it dropped.  Guess my data point wasn't valid after all, lol...

NO IDEA why it's disappeared a year early, but I'll take it.  Actually a little longer than a year...both other bureaus give dates of 8/17 and 9/17 for removal.

Chase Sapphire Reserve $30,000 | Amex BCP $30,000 | Discover It $30,000 | Citi Simp $16,500 | NFCU Cash Rewards $14,400 | Citi DC $9,800 | Chase Freedom $9,000 | VS $4,100 | Kohl's $3,000 | Loft $3,000

EQ 823 ~ TU 817 ~ EXP 808 | ITG since 8/24/2016
Message 34 of 37
Revelate
Moderator Emeritus

Re: Rebucketing


@LuckyBird wrote:
The last time I saw an EXP report was May 4 and the tax lien was still there then, not disputed or anything.  I'm just waiting for it to age off.  I tried to get it off about 3 years ago and had no luck, so I've just been waiting it out.  Interestingly, it was filed in June of 2010, so this month it's 6 years old.  I was pretty astonished at the score jump, too...EXP was at 752 just prior to the jump.

I think I read somewhere (on here) that EXP is no longer getting 3rd party public record information (not sure if that's true), so I've wondered if they dropped it. The only report monitoring I have is the MF 3B pulls every 3 months & I don't really know of a way to pull another report until the next MF one in August.  Is there anywhere to get a free EXP report before then?

Hmm, I don't think either inverse or jamie had a big swing at the 6 year mark; my own is coming up half a year so if I get a surprise non-trivial boost in December maybe some merit to that, though given that neither collections nor BK's have reported similar jumps at that point, kinda skeptical TBH.  I do know that EX keeps an internal record of dispute updates even for tradelines which are no longer in dispute (I can't redispute my tax lien for example after I did it to get it updated to released) but that shouldn't impact this assuming non-suck implementation.

 

Experian has a lot of marketing report sites, freecreditreport.com is one such which I think gives an EX report monthly or similar, but at one point there were like 3 so there's probably others.  credit.com gives summary data which is probably good enough too to see whether it's on there or not.

 

Actually, you have an Amex card in your signature, what's it reporting for a EX FICO 8 score?  




        
Message 35 of 37
LuckyBird
Regular Contributor

Re: Rebucketing


@Revelate wrote:

@LuckyBird wrote:
The last time I saw an EXP report was May 4 and the tax lien was still there then, not disputed or anything.  I'm just waiting for it to age off.  I tried to get it off about 3 years ago and had no luck, so I've just been waiting it out.  Interestingly, it was filed in June of 2010, so this month it's 6 years old.  I was pretty astonished at the score jump, too...EXP was at 752 just prior to the jump.

I think I read somewhere (on here) that EXP is no longer getting 3rd party public record information (not sure if that's true), so I've wondered if they dropped it. The only report monitoring I have is the MF 3B pulls every 3 months & I don't really know of a way to pull another report until the next MF one in August.  Is there anywhere to get a free EXP report before then?

Hmm, I don't think either inverse or jamie had a big swing at the 6 year mark; my own is coming up half a year so if I get a surprise non-trivial boost in December maybe some merit to that, though given that neither collections nor BK's have reported similar jumps at that point, kinda skeptical TBH.  I do know that EX keeps an internal record of dispute updates even for tradelines which are no longer in dispute (I can't redispute my tax lien for example after I did it to get it updated to released) but that shouldn't impact this assuming non-suck implementation.

 

Experian has a lot of marketing report sites, freecreditreport.com is one such which I think gives an EX report monthly or similar, but at one point there were like 3 so there's probably others.  credit.com gives summary data which is probably good enough too to see whether it's on there or not.

 

Actually, you have an Amex card in your signature, what's it reporting for a EX FICO 8 score?  


Amex is reporting 812 as well.  Also, see my other updated post...I pulled free reports and confirmed that the lien has disappeared from EXP for both myself and my husband.  No idea why, but that's pretty awesome.  The other 2 bureaus have 8/2017 and 9/2017 as removal dates.

Chase Sapphire Reserve $30,000 | Amex BCP $30,000 | Discover It $30,000 | Citi Simp $16,500 | NFCU Cash Rewards $14,400 | Citi DC $9,800 | Chase Freedom $9,000 | VS $4,100 | Kohl's $3,000 | Loft $3,000

EQ 823 ~ TU 817 ~ EXP 808 | ITG since 8/24/2016
Message 36 of 37
Revelate
Moderator Emeritus

Re: Rebucketing


@LuckyBird wrote:

@Revelate wrote:

@LuckyBird wrote:
The last time I saw an EXP report was May 4 and the tax lien was still there then, not disputed or anything.  I'm just waiting for it to age off.  I tried to get it off about 3 years ago and had no luck, so I've just been waiting it out.  Interestingly, it was filed in June of 2010, so this month it's 6 years old.  I was pretty astonished at the score jump, too...EXP was at 752 just prior to the jump.

I think I read somewhere (on here) that EXP is no longer getting 3rd party public record information (not sure if that's true), so I've wondered if they dropped it. The only report monitoring I have is the MF 3B pulls every 3 months & I don't really know of a way to pull another report until the next MF one in August.  Is there anywhere to get a free EXP report before then?

Hmm, I don't think either inverse or jamie had a big swing at the 6 year mark; my own is coming up half a year so if I get a surprise non-trivial boost in December maybe some merit to that, though given that neither collections nor BK's have reported similar jumps at that point, kinda skeptical TBH.  I do know that EX keeps an internal record of dispute updates even for tradelines which are no longer in dispute (I can't redispute my tax lien for example after I did it to get it updated to released) but that shouldn't impact this assuming non-suck implementation.

 

Experian has a lot of marketing report sites, freecreditreport.com is one such which I think gives an EX report monthly or similar, but at one point there were like 3 so there's probably others.  credit.com gives summary data which is probably good enough too to see whether it's on there or not.

 

Actually, you have an Amex card in your signature, what's it reporting for a EX FICO 8 score?  


Amex is reporting 812 as well.  Also, see my other updated post...I pulled free reports and confirmed that the lien has disappeared from EXP for both myself and my husband.  No idea why, but that's pretty awesome.  The other 2 bureaus have 8/2017 and 9/2017 as removal dates.


Oh I missed that haha, yeah that would explain the transition to 812, all is right with the world Smiley Happy.  That is absolutely epic to be sure, congratulations!




        
Message 37 of 37
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