last baddie left, 30d, drops off DEC15- scores now

[crunching_numbers]

Ok, just thought my fellow credit junkies would find this as interesting as I have. I have one baddie, a 30d late,  hanging out from DEC08 on EQ and EX. I ran a 3b, and have the scores updated in my signature.Until last month my utitity was really high, and it impacted my scores by about 60 points, that I just regained this month in my FICO 08.  As you can see, there is little to no serious impact on my FICO 08 scores from this baddie. My bankcard and auto enhanced scores are also in the 800s.  I paid down most of my debt, and have utility in the high single digits, with balance (reflecting mostly current monthy spending) reporting on most cards. Credit history is 20+ years on all bureaus, and I have old student loans as well as a new car purchase from JUN15- zero payments made .I also have a mortgage.  With my profile, the car loan seems to have not affected me much at all on the FICO 08.

Of interest is the serious impact on my mortgage scores on EX and EQ. Sure, they are great, and there would be no issue refinancing right now, but they are WAY lower than my FICO08 score, and the TU score that does not have the baddie. The impact of a very old 30d plus a brand new car loan is harsh. 

The 30d is gone from TU, so you can see the difference between TU and the other bureaus without it. 40-50 point difference. I expect to see those scores jump when it falls off, as well as see the impact over time of the new credit aging. 

Bottom line? FICO 08 is much more forgiving for my profile. Mortgage FICOs are hard hit even by one old baddie. New credit, in an old thick file has nominal impact on FICO 08, but still is harsh on the older FICO versions.

[jamie123]

Yeah, the mortgage scores are tough to raise with baddies on your reports. I had a State tax lien from 2008 fall off my EX report a few months ago leaving me with a spotless EX report. My EX mortgage score shot up 100 points!

[dman23]

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@crunching_numbers wrote:

Ok, just thought my fellow credit junkies would find this as interesting as I have. I have one baddie, a 30d late,  hanging out from DEC08 on EQ and EX. I ran a 3b, and have the scores updated in my signature.Until last month my utitity was really high, and it impacted my scores by about 60 points, that I just regained this month in my FICO 08.  As you can see, there is little to no serious impact on my FICO 08 scores from this baddie. My bankcard and auto enhanced scores are also in the 800s.  I paid down most of my debt, and have utility in the high single digits, with balance (reflecting mostly current monthy spending) reporting on most cards. Credit history is 20+ years on all bureaus, and I have old student loans as well as a new car purchase from JUN15- zero payments made .I also have a mortgage.  With my profile, the car loan seems to have not affected me much at all on the FICO 08.

Of interest is the serious impact on my mortgage scores on EX and EQ. Sure, they are great, and there would be no issue refinancing right now, but they are WAY lower than my FICO08 score, and the TU score that does not have the baddie. The impact of a very old 30d plus a brand new car loan is harsh. 

The 30d is gone from TU, so you can see the difference between TU and the other bureaus without it. 40-50 point difference. I expect to see those scores jump when it falls off, as well as see the impact over time of the new credit aging. 

Bottom line? FICO 08 is much more forgiving for my profile. Mortgage FICOs are hard hit even by one old baddie. New credit, in an old thick file has nominal impact on FICO 08, but still is harsh on the older FICO versions.

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I would be surprised if the 40-50 point difference from TU and the other bureaus is due to the 30d baddie aging off. From what I understand a 30 day late has minimal scoring impact after 2 years. Also, I just had a 60d and 90d age off my reports and my scores jumped 29 points.

Funny, in my case my Mortgage Ficos are better than my Fico 08.

[crunching_numbers]

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@dman23 wrote:

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@crunching_numbers wrote:

Ok, just thought my fellow credit junkies would find this as interesting as I have. I have one baddie, a 30d late,  hanging out from DEC08 on EQ and EX. I ran a 3b, and have the scores updated in my signature.Until last month my utitity was really high, and it impacted my scores by about 60 points, that I just regained this month in my FICO 08.  As you can see, there is little to no serious impact on my FICO 08 scores from this baddie. My bankcard and auto enhanced scores are also in the 800s.  I paid down most of my debt, and have utility in the high single digits, with balance (reflecting mostly current monthy spending) reporting on most cards. Credit history is 20+ years on all bureaus, and I have old student loans as well as a new car purchase from JUN15- zero payments made .I also have a mortgage.  With my profile, the car loan seems to have not affected me much at all on the FICO 08.

Of interest is the serious impact on my mortgage scores on EX and EQ. Sure, they are great, and there would be no issue refinancing right now, but they are WAY lower than my FICO08 score, and the TU score that does not have the baddie. The impact of a very old 30d plus a brand new car loan is harsh. 

The 30d is gone from TU, so you can see the difference between TU and the other bureaus without it. 40-50 point difference. I expect to see those scores jump when it falls off, as well as see the impact over time of the new credit aging. 

Bottom line? FICO 08 is much more forgiving for my profile. Mortgage FICOs are hard hit even by one old baddie. New credit, in an old thick file has nominal impact on FICO 08, but still is harsh on the older FICO versions.

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I would be surprised if the 40-50 point difference from TU and the other bureaus is due to the 30d baddie aging off. From what I understand a 30 day late has minimal scoring impact after 2 years. Also, I just had a 60d and 90d age off my reports and my scores jumped 29 points.

Funny, in my case my Mortgage Ficos are better than my Fico 08.

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I suspect it might actually be a matter of the bucketing rather than the 30d itself.  I do not have a "clean" report. That most likely puts me in a bucket with others that have a blemish. I am not sitting with the "clean report" group. I did get a new car loan. I am being dinged for the new credit as well. I think the newer FICO versions see a car loan as "kinda normal", and not as much of a risk as the older versions might. 

[dman23]

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@crunching_numbers wrote:

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@dman23 wrote:

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@crunching_numbers wrote:

Ok, just thought my fellow credit junkies would find this as interesting as I have. I have one baddie, a 30d late,  hanging out from DEC08 on EQ and EX. I ran a 3b, and have the scores updated in my signature.Until last month my utitity was really high, and it impacted my scores by about 60 points, that I just regained this month in my FICO 08.  As you can see, there is little to no serious impact on my FICO 08 scores from this baddie. My bankcard and auto enhanced scores are also in the 800s.  I paid down most of my debt, and have utility in the high single digits, with balance (reflecting mostly current monthy spending) reporting on most cards. Credit history is 20+ years on all bureaus, and I have old student loans as well as a new car purchase from JUN15- zero payments made .I also have a mortgage.  With my profile, the car loan seems to have not affected me much at all on the FICO 08.

Of interest is the serious impact on my mortgage scores on EX and EQ. Sure, they are great, and there would be no issue refinancing right now, but they are WAY lower than my FICO08 score, and the TU score that does not have the baddie. The impact of a very old 30d plus a brand new car loan is harsh. 

The 30d is gone from TU, so you can see the difference between TU and the other bureaus without it. 40-50 point difference. I expect to see those scores jump when it falls off, as well as see the impact over time of the new credit aging. 

Bottom line? FICO 08 is much more forgiving for my profile. Mortgage FICOs are hard hit even by one old baddie. New credit, in an old thick file has nominal impact on FICO 08, but still is harsh on the older FICO versions.

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I would be surprised if the 40-50 point difference from TU and the other bureaus is due to the 30d baddie aging off. From what I understand a 30 day late has minimal scoring impact after 2 years. Also, I just had a 60d and 90d age off my reports and my scores jumped 29 points.

Funny, in my case my Mortgage Ficos are better than my Fico 08.

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I suspect it might actually be a matter of the bucketing rather than the 30d itself.  I do not have a "clean" report. That most likely puts me in a bucket with others that have a blemish. I am not sitting with the "clean report" group. I did get a new car loan. I am being dinged for the new credit as well. I think the newer FICO versions see a car loan as "kinda normal", and not as much of a risk as the older versions might. 

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Now that I understand bucketing I see what you're saying. I guess that could be a reason too. Nevertheless, your scores are great.

[crunching_numbers]

Update:

For some unknown reason, the baddie fell off my reports last week, or 3 months early. This I am not complaining about!

The effect was a 17 point jump in my EQ FICO5 (mortgage FICO) from 758 to 775,

and, a 21 point jump in my EQ FICO8 to 844. This is the first time in my life that my FICO scores have been this high, and I am so excited. The only thing that is negative on my credit report is the fact that the car loan is so new. Therefore I can say with certainty that I am being dinged 6 points or less for a loan that started in June. It is completely insignificant to me, but for those who study these changes, I thought I would point this out. I also have balances on many credit cards, but they are small relative to my limits. So I can also say that a 844 is possible with many cards carrying balances, with several over $1000.

[Thomas_Thumb]

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@crunching_numbers wrote:

Update:

For some unknown reason, the baddie fell off my reports last week, or 3 months early. This I am not complaining about!

The effect was a 17 point jump in my EQ FICO5 (mortgage FICO) from 758 to 775,

and, a 21 point jump in my EQ FICO8 to 844. This is the first time in my life that my FICO scores have been this high, and I am so excited. The only thing that is negative on my credit report is the fact that the car loan is so new. Therefore I can say with certainty that I am being dinged 6 points or less for a loan that started in June. It is completely insignificant to me, but for those who study these changes, I thought I would point this out. I also have balances on many credit cards, but they are small relative to my limits. So I can also say that a 844 is possible with many cards carrying balances, with several over $1000.

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Shocking - the difference between classic EQ Fico score 5 and classic EQ Fico score 8 (69 points in your example). I have not specifically figured out what slams the EQ Fico score 5 but I do know you can have at least one and possibly 2 inquiries on Fico 08 without a score hit. Also, based on my experience, Fico 08 is more lenient toward an individual card max out as long as aggregate UT % is kept low.

I had the following offsets:

@1) EQ Fico 05 @ 809, EQ Fico 08 @ 850 (no inquiries) => 41 points

@2) EQ Fico 05 @ 796, EQ Fico 08 @ 850 (one inquiry) => 54 points

@3) EQ Fico 05 @ 777, EQ Fico 08 @ 850 (one inquiry + one card 80% "max out") => 73 points

@P.S. Classic EQ Fico 05 has a max score potential of 818 - not 850 (so minimum offset is 32 points @ Fico 08 850)

[Revelate]

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@crunching_numbers wrote:

Update:

For some unknown reason, the baddie fell off my reports last week, or 3 months early. This I am not complaining about!

The effect was a 17 point jump in my EQ FICO5 (mortgage FICO) from 758 to 775,

and, a 21 point jump in my EQ FICO8 to 844. This is the first time in my life that my FICO scores have been this high, and I am so excited. The only thing that is negative on my credit report is the fact that the car loan is so new. Therefore I can say with certainty that I am being dinged 6 points or less for a loan that started in June. It is completely insignificant to me, but for those who study these changes, I thought I would point this out. I also have balances on many credit cards, but they are small relative to my limits. So I can also say that a 844 is possible with many cards carrying balances, with several over $1000.

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Just because the max score is 850 doesn't mean that your 6 month account = 6 points.  With the way it works you can get higher than the max profile, but still cap out 850 score wise.  Also when we're talking FICO 8 we have to factor installment utilization in with it too, a tradeline doesn't exist in a vacuum.

Begging for data:

What's your oldest account and what's your AAOA currently?  Actually for that matter since mentioned earlier, what are your installment lines currently and what's the current balance vs. original balance on them?

[crunching_numbers]

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@Revelate wrote:

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@crunching_numbers wrote:

Update:

For some unknown reason, the baddie fell off my reports last week, or 3 months early. This I am not complaining about!

The effect was a 17 point jump in my EQ FICO5 (mortgage FICO) from 758 to 775,

and, a 21 point jump in my EQ FICO8 to 844. This is the first time in my life that my FICO scores have been this high, and I am so excited. The only thing that is negative on my credit report is the fact that the car loan is so new. Therefore I can say with certainty that I am being dinged 6 points or less for a loan that started in June. It is completely insignificant to me, but for those who study these changes, I thought I would point this out. I also have balances on many credit cards, but they are small relative to my limits. So I can also say that a 844 is possible with many cards carrying balances, with several over $1000.

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Just because the max score is 850 doesn't mean that your 6 month account = 6 points.  With the way it works you can get higher than the max profile, but still cap out 850 score wise.  Also when we're talking FICO 8 we have to factor installment utilization in with it too, a tradeline doesn't exist in a vacuum.

Begging for data:

What's your oldest account and what's your AAOA currently?  Actually for that matter since mentioned earlier, what are your installment lines currently and what's the current balance vs. original balance on them? :

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Sorry, what I meant was that it was not possible to be more than 6. It certainly can be less.

as for data:

AAoA= about 15 years (thanks to student loans showing up before and after consolidation, plus the consolidated loans switching from the U.S. Dept of Ed to VSAC and back dating by Amex)

oldest account =20 years

installment lines:

student loans: 15k of 35k and a second one of 11k of 26 k (three more zero balance account transferred status)

car loan: brand new, 2 payments reflected on report of 60. $35.6k of $36.7k (plus previous car note PIF)

mortgage: $259k of $276k (plus 7 more closed loans from previous house and refinances)

FYI- I have 46 accounts on the report, and 17 show balances. Revolving debt was $18k

hope that is useful. If you are curious about anything else, ask away 

[Thomas_Thumb]

I believe VantageScore 3.0 would like your profile (large # of accounts and extensive credit mix).

I would be curious to know what your VS 3 scores are (you can get your EQ and TU scores free at Credit Karma)