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[Final update 12/11] Car loan & installment loan thresholds

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SouthJamaica
Mega Contributor

Re: [Update 7/6] Car loan & installment loan thresholds


@oilcan12 wrote:

@SouthJamaica wrote:

Once again, life comes in and screws up my tests.

 

This time one of my banks screwed up and when the dust settles I probably will have made eleven (11) months, instead of the planned six (6) months, worth of car payments, this month, so that the next reporting level, instead of being 68.7%, where I wanted it to be for purposes of testing the 70% threshold, will be 59.9%.

 

 


It will still be almost as interesting. I look forward to your results.


ah, you're just trying to make me feel better Smiley Happy


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 51 of 102
SouthJamaica
Mega Contributor

Re: [Update 7/6] Car loan & installment loan thresholds


@SouthJamaica wrote:

@oilcan12 wrote:

@SouthJamaica wrote:

Once again, life comes in and screws up my tests.

 

This time one of my banks screwed up and when the dust settles I probably will have made eleven (11) months, instead of the planned six (6) months, worth of car payments, this month, so that the next reporting level, instead of being 68.7%, where I wanted it to be for purposes of testing the 70% threshold, will be 59.9%.

 

 


It will still be almost as interesting. I look forward to your results.


ah, you're just trying to make me feel better Smiley Happy


I was able to get the bank snafu reversed.

 

So I will be testing the 70% threshold after all, as my installment utilization will have dropped from

79.1% to 68.8%.

 

I guess when I get the reports, I'll start a new thread "70% installment utilization: threshold or not?"


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 52 of 102
JLK93
Established Contributor

Re: [Update 7/6] Car loan & installment loan thresholds


@SouthJamaica wrote:

@SouthJamaica wrote:

@oilcan12 wrote:

@SouthJamaica wrote:

Once again, life comes in and screws up my tests.

 

This time one of my banks screwed up and when the dust settles I probably will have made eleven (11) months, instead of the planned six (6) months, worth of car payments, this month, so that the next reporting level, instead of being 68.7%, where I wanted it to be for purposes of testing the 70% threshold, will be 59.9%.

 

 


It will still be almost as interesting. I look forward to your results.


ah, you're just trying to make me feel better Smiley Happy


I was able to get the bank snafu reversed.

 

So I will be testing the 70% threshold after all, as my installment utilization will have dropped from

79.1% to 68.8%.

 

I guess when I get the reports, I'll start a new thread "70% installment utilization: threshold or not?"


I'm glad you got it straightened out. I'm looking forward to your results. When can we expect to hear something?

Message 53 of 102
SouthJamaica
Mega Contributor

Re: [Update 7/6] Car loan & installment loan thresholds


@oilcan12 wrote:

@SouthJamaica wrote:

@SouthJamaica wrote:

@oilcan12 wrote:

@SouthJamaica wrote:

Once again, life comes in and screws up my tests.

 

This time one of my banks screwed up and when the dust settles I probably will have made eleven (11) months, instead of the planned six (6) months, worth of car payments, this month, so that the next reporting level, instead of being 68.7%, where I wanted it to be for purposes of testing the 70% threshold, will be 59.9%.

 

 


It will still be almost as interesting. I look forward to your results.


ah, you're just trying to make me feel better Smiley Happy


I was able to get the bank snafu reversed.

 

So I will be testing the 70% threshold after all, as my installment utilization will have dropped from

79.1% to 68.8%.

 

I guess when I get the reports, I'll start a new thread "70% installment utilization: threshold or not?"


I'm glad you got it straightened out. I'm looking forward to your results. When can we expect to hear something?


August 6th


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 54 of 102
SouthJamaica
Mega Contributor

Re: [Update 7/6] Car loan & installment loan thresholds


70% Threshold ....tested.


Effect of paying down car loan, reducing overall installment loan utilization from 79.1% to 68.8%
FICO8 EQ 699 +3 TU 784 +8 EX 709 +-0
FICO9 EQ 753 +3 TU 795 +1 EX 730 -4
FICO Bankcard 8 EQ 700 -6 TU 802 +4 EX 722 +2
FICO Auto 8 EQ 706 -6 TU 792 +10 EX 709 +5
FICO Auto 5 EQ 682 -2 Auto4 TU 760 +3 Auto2 EX 664 +2
FICO Auto 9 EQ 762 +3 TU 802 +1 EX 746 -3
Mortgage FICO5 EQ 695 -2 FICO4 TU 742  -4 FICO2 EX 693 +3

 

To my untrained eye it looks like a meaningless hodgepodge.

 

For comparison purposes, here's what happened last month when I crossed the 80% threshold, going from 87.7% to 79.1%:

 

FICO8 EQ 705 +2 TU 776 +2 EX 707 +2
FICO9 EQ 750 +8 TU 794 -2 EX 734 +-0
FICO Bankcard 8 EQ 706 +5 TU 798 -2 EX 720 +3
FICO Auto 8 EQ 712 + 14 TU 782 -12 EX 704 +4
FICO Auto 5 EQ 684 +5 Auto4 TU 757 +6 Auto2 EX 662 +21
FICO Auto 9 EQ 759 +15 TU 801 -13 EX 749 +14
Mortgage FICO5 EQ 697 +-0 FICO4 TU 746 +-0 FICO2 EX 690 +-0

 

 


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 55 of 102
JLK93
Established Contributor

Re: [Update 7/6] Car loan & installment loan thresholds


@SouthJamaica wrote:
 

To my untrained eye it looks like a meaningless hodgepodge.

 


OMG! Those were my exact words!

Message 56 of 102
JLK93
Established Contributor

Re: [Update 7/6] Car loan & installment loan thresholds


@SouthJamaica wrote:


70% Threshold ....tested.


Effect of paying down car loan, reducing overall installment loan utilization from 79.1% to 68.8%
FICO8 EQ 699 +3 TU 784 +8 EX 709 +-0
FICO9 EQ 753 +3 TU 795 +1 EX 730 -4
FICO Bankcard 8 EQ 700 -6 TU 802 +4 EX 722 +2
FICO Auto 8 EQ 706 -6 TU 792 +10 EX 709 +5
FICO Auto 5 EQ 682 -2 Auto4 TU 760 +3 Auto2 EX 664 +2
FICO Auto 9 EQ 762 +3 TU 802 +1 EX 746 -3
Mortgage FICO5 EQ 695 -2 FICO4 TU 760 +14 FICO2 EX 693 +3

 

To my untrained eye it looks like a meaningless hodgepodge.

 

For comparison purposes, here's what happened last month when I crossed the 80% threshold, going from 87.7% to 79.1%:

 

FICO8 EQ 705 +2 TU 776 +2 EX 707 +2
FICO9 EQ 750 +8 TU 794 -2 EX 734 +-0
FICO Bankcard 8 EQ 706 +5 TU 798 -2 EX 720 +3
FICO Auto 8 EQ 712 + 14 TU 782 -12 EX 704 +4
FICO Auto 5 EQ 684 +5 Auto4 TU 757 +6 Auto2 EX 662 +21
FICO Auto 9 EQ 759 +15 TU 801 -13 EX 749 +14
Mortgage FICO5 EQ 697 +-0 FICO4 TU 746 +-0 FICO2 EX 690 +-0

 

 


Any idea why your TU 04 gained 14 points?

 

Is the same data currently being reported to each bureau?

Message 57 of 102
JLK93
Established Contributor

Re: [Update 7/6] Car loan & installment loan thresholds

0 point gain on Experian.

Message 58 of 102
SouthJamaica
Mega Contributor

Re: [Update 7/6] Car loan & installment loan thresholds


@oilcan12 wrote:

@SouthJamaica wrote:


70% Threshold ....tested.


Effect of paying down car loan, reducing overall installment loan utilization from 79.1% to 68.8%
FICO8 EQ 699 +3 TU 784 +8 EX 709 +-0
FICO9 EQ 753 +3 TU 795 +1 EX 730 -4
FICO Bankcard 8 EQ 700 -6 TU 802 +4 EX 722 +2
FICO Auto 8 EQ 706 -6 TU 792 +10 EX 709 +5
FICO Auto 5 EQ 682 -2 Auto4 TU 760 +3 Auto2 EX 664 +2
FICO Auto 9 EQ 762 +3 TU 802 +1 EX 746 -3
Mortgage FICO5 EQ 695 -2 FICO4 TU 742 -4 FICO2 EX 693 +3

 

To my untrained eye it looks like a meaningless hodgepodge.

 

For comparison purposes, here's what happened last month when I crossed the 80% threshold, going from 87.7% to 79.1%:

 

FICO8 EQ 705 +2 TU 776 +2 EX 707 +2
FICO9 EQ 750 +8 TU 794 -2 EX 734 +-0
FICO Bankcard 8 EQ 706 +5 TU 798 -2 EX 720 +3
FICO Auto 8 EQ 712 + 14 TU 782 -12 EX 704 +4
FICO Auto 5 EQ 684 +5 Auto4 TU 757 +6 Auto2 EX 662 +21
FICO Auto 9 EQ 759 +15 TU 801 -13 EX 749 +14
Mortgage FICO5 EQ 697 +-0 FICO4 TU 746 +-0 FICO2 EX 690 +-0

 

 


Any idea why your TU 04 gained 14 points?

 

Not a clue

 

Is the same data currently being reported to each bureau?

 

1. An old public record which aged off of TU is still showing up on EQ and EX.

2. An Amex account which morphed into a Barclays account is still showing up as open on EX, while TU & EQ consider it closed.

 


 


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 59 of 102
SouthJamaica
Mega Contributor

Re: [Update 7/6] Car loan & installment loan thresholds


@oilcan12 wrote:

@SouthJamaica wrote:


70% Threshold ....tested.


Effect of paying down car loan, reducing overall installment loan utilization from 79.1% to 68.8%
FICO8 EQ 699 +3 TU 784 +8 EX 709 +-0
FICO9 EQ 753 +3 TU 795 +1 EX 730 -4
FICO Bankcard 8 EQ 700 -6 TU 802 +4 EX 722 +2
FICO Auto 8 EQ 706 -6 TU 792 +10 EX 709 +5
FICO Auto 5 EQ 682 -2 Auto4 TU 760 +3 Auto2 EX 664 +2
FICO Auto 9 EQ 762 +3 TU 802 +1 EX 746 -3
Mortgage FICO5 EQ 695 -2 FICO4 TU 742 -4 FICO2 EX 693 +3

 

To my untrained eye it looks like a meaningless hodgepodge.

 

For comparison purposes, here's what happened last month when I crossed the 80% threshold, going from 87.7% to 79.1%:

 

FICO8 EQ 705 +2 TU 776 +2 EX 707 +2
FICO9 EQ 750 +8 TU 794 -2 EX 734 +-0
FICO Bankcard 8 EQ 706 +5 TU 798 -2 EX 720 +3
FICO Auto 8 EQ 712 + 14 TU 782 -12 EX 704 +4
FICO Auto 5 EQ 684 +5 Auto4 TU 757 +6 Auto2 EX 662 +21
FICO Auto 9 EQ 759 +15 TU 801 -13 EX 749 +14
Mortgage FICO5 EQ 697 +-0 FICO4 TU 746 +-0 FICO2 EX 690 +-0

 

 


Any idea why your TU 04 gained 14 points?

 

Is the same data currently being reported to each bureau?


Just realized I made a mistake on TU FICO 4, it's -4, not +14. Sorry about that.


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 60 of 102
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