Reply
Moderator
Posts: 10,546
Registered: ‎12-30-2011
0

Re: Strange FICO


mongstradamus wrote:

Revelate wrote:

An inquiry is never a positive in the FICO algorithm though it can be zero points lost.  Something else occurred between updates.


I am not sure , i think my util may have been really really low like .01% and that counted negatively. it was back up to 3.5 % when i got bump . I just thought it was weird with an HP my score didn't go down 


Inquiries are graded on a step function, not every inquiry results in a drop in score; also other potential factors such as bucketing boundaries come into play.  If you want truly wierd FICO things, my Equifax Beacon 5.0 did not drop when I went from 0 inquiries to 1 on the report.

 

.01% != 0 for the record, it is not the same negative; however, it's been long established that everyone has a sweet spot for utilization and as such it's not unlikely that could've factored, also a number of things on your report in terms of aging.

 

Isolating individual changes and establishing cause and effect is enormously difficult even for those with long experience in analyzing reports and scores, which is why I often preface so many of my assertions with potentially or maybe and provide disclaimers even when I'm 99% confident in the result.

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 683, EQ 8 690, TU 710, EX 715 (01/01/15)
Goal Score: 700 on EQ 04 (01/01/16)


Take the myFICO Fitness Challenge
Moderator
Posts: 10,546
Registered: ‎12-30-2011
0

Re: Strange FICO


Themanwhocan wrote:

I did get a couple of small SP CLI, which increased the two Cash+ cards to $10,000 each. Which Transunion considers to mean they are "Premium Bankcard Account"'s.

 

So 2+ months ago I had one Premium bankcard, and by getting a $10,000 limit Sallie, and then 1 month later getting 2 more via CLI, I did go from 1 to 4 such accounts (4 of my 8 active accounts). Then the 2 accounts added this week made it 5 of 10 active accounts are Premium. For whatever that is worth...

 

Does FICO place a premium on the number of Premium Bankcards? I guess thats a good question...


Doubtful but *shrug*

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 683, EQ 8 690, TU 710, EX 715 (01/01/15)
Goal Score: 700 on EQ 04 (01/01/16)


Take the myFICO Fitness Challenge
Valued Contributor
Posts: 1,936
Registered: ‎04-04-2013
0

Re: Strange FICO


oilcan12 wrote:

Themanwhocan wrote:

2 months ago my TU FICO was 740 (both Barclays and Discover). Then I applied for a credit card.

 

I didn't get my score last month.

 

So, now my TU FICO score 9 days ago was: 740 (Discover). I applied for 2 more credit cards (4 and 2 days ago).

 

Now today, my TU FICO score is: 740 (Barclays).

 

It just seems strange, is all...


Had your new cards even reported at the time Barclays FICO score was pulled.

 

Walmart, Discover and DCU always do a soft pull a few days before they provide the FICO score. I don't have Barclays, but I would think that they do they same thing.


The Bank of America card that I applied for on Monday, reported to Experian on Tuesday. I assume Transunion also saw it then. The Chase card I applied for on Wednesday still hasn't shown on EX or TU. No HP on TU for these cards, both hit on EX. 

 

Discover and Barclays show the date whch the FICO score is from, so I'm using that.


Regular Contributor
Posts: 240
Registered: ‎01-01-2014
0

Re: Strange FICO


Themanwhocan wrote:

oilcan12 wrote:

Themanwhocan wrote:

2 months ago my TU FICO was 740 (both Barclays and Discover). Then I applied for a credit card.

 

I didn't get my score last month.

 

So, now my TU FICO score 9 days ago was: 740 (Discover). I applied for 2 more credit cards (4 and 2 days ago).

 

Now today, my TU FICO score is: 740 (Barclays).

 

It just seems strange, is all...


Had your new cards even reported at the time Barclays FICO score was pulled.

 

Walmart, Discover and DCU always do a soft pull a few days before they provide the FICO score. I don't have Barclays, but I would think that they do they same thing.


The Bank of America card that I applied for on Monday, reported to Experian on Tuesday. I assume Transunion also saw it then. The Chase card I applied for on Wednesday still hasn't shown on EX or TU. No HP on TU for these cards, both hit on EX. 

 

Discover and Barclays show the date whch the FICO score is from, so I'm using that.



Themanwhocan wrote:

oilcan12 wrote:

Themanwhocan wrote:

2 months ago my TU FICO was 740 (both Barclays and Discover). Then I applied for a credit card.

 

I didn't get my score last month.

 

So, now my TU FICO score 9 days ago was: 740 (Discover). I applied for 2 more credit cards (4 and 2 days ago).

 

Now today, my TU FICO score is: 740 (Barclays).

 

It just seems strange, is all...


Had your new cards even reported at the time Barclays FICO score was pulled.

 

Walmart, Discover and DCU always do a soft pull a few days before they provide the FICO score. I don't have Barclays, but I would think that they do they same thing.


The Bank of America card that I applied for on Monday, reported to Experian on Tuesday. I assume Transunion also saw it then. The Chase card I applied for on Wednesday still hasn't shown on EX or TU. No HP on TU for these cards, both hit on EX. 

 

Discover and Barclays show the date whch the FICO score is from, so I'm using that.


There is usually several days delay before TU updates. Anyway, it's like Revelate said, new accounts don't usually affect my score.

 

The aging of some of your older inquiries would have offset the new inquiry from 2 months ago.

Valued Contributor
Posts: 1,936
Registered: ‎04-04-2013
0

Re: Strange FICO

I just got a letter from Bank of America, but not the credit card yet. On monday when I applied, my Experian score was 765. Nice... 

 

I guess I received the best APR as well, since they didn't say I could get a free credit report, other than the one I can get every year. Too bad they only gave me a $4,500 initial limit.


Moderator
Posts: 7,022
Registered: ‎01-15-2009
0

Re: Strange FICO


Themanwhocan wrote:

I just got a letter from Bank of America, but not the credit card yet. On monday when I applied, my Experian score was 765. Nice... 

 

I guess I received the best APR as well, since they didn't say I could get a free credit report, other than the one I can get every year. Too bad they only gave me a $4,500 initial limit.


You get the free score included in your paperwork not the report for less than ideal terms, I thought?

Valued Contributor
Posts: 1,936
Registered: ‎04-04-2013
0

Re: Strange FICO


KennyRS wrote:

Themanwhocan wrote:

I just got a letter from Bank of America, but not the credit card yet. On monday when I applied, my Experian score was 765. Nice... 

 

I guess I received the best APR as well, since they didn't say I could get a free credit report, other than the one I can get every year. Too bad they only gave me a $4,500 initial limit.


You get the free score included in your paperwork not the report for less than ideal terms, I thought?


That is correct. I just received my card on monday, and with a 765 FICO score BOA did NOTgive me the best terms. Best terms would have been an APR of 11.99 and they gave me 18.99


Moderator
Posts: 12,952
Registered: ‎04-15-2011
0

Re: Strange FICO

I bought my daughter a car last month.  New inquiry, new TL, drop of 2 points.  So I'm not worried if I add an account here and there now.  Though I have no plans for a new purchase for at least a year.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Established Contributor
Posts: 993
Registered: ‎04-01-2008
0

Re: Strange FICO


myjourney wrote:

Do you have a thick file?

Reason I ask is because I've had that happen and in some cases after new apps have seen my scores go up


Same thing has happened to me.



1/28/14 EQ 817, (6/30/14)EX 821, TU 817 on 6/13/2014

Take the myFICO Fitness Challenge

Get a myFICO recommended credit card

Copyright ©2001-2013 Fair Isaac Corporation.
All rights reserved.

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). 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.