topic Re: Fico score breakdown confusion in Understanding FICO® Scoring

Fico score breakdown confusion

Anonymous — Thu, 11 Mar 2021 11:26:42 GMT

Hey all...

So i went through all my scores to see what was hurting my scores.

A lot of them say "too few accounts paid on time"

But my payment history is 100% no lates ever. So why would it say that...new accounts? Can't figure it out..any help on this?

Re: Fico score breakdown confusion

Anonymous — Thu, 11 Mar 2021 13:09:38 GMT

It can be kind of muddy for sure. How many accounts do you have? If it's only a couple, they may mean "your accounts are paid on time but you have too few of them" - I've seen this theorized here but I do not know for sure whether it's accurate. @Anonymous may have a better idea.

Re: Fico score breakdown confusion

dragontears — Thu, 11 Mar 2021 11:39:59 GMT

@Anonymous wrote:
Hey all...
So i went through all my scores to see what was hurting my scores.
A lot of them say "too few accounts paid on time"
But my payment history is 100% no lates ever. So why would it say that...new accounts? Can't figure it out..any help on this?

That reason code normally refers to "file thickness" not payment history

Re: Fico score breakdown confusion

Iusedtolurk — Thu, 11 Mar 2021 16:38:52 GMT

@dragontears wrote:
@Anonymous wrote:
Hey all...
So i went through all my scores to see what was hurting my scores.
A lot of them say "too few accounts paid on time"
But my payment history is 100% no lates ever. So why would it say that...new accounts? Can't figure it out..any help on this?
That reason code normally refers to "file thickness" not payment history

Agree! From a lot of the posts I've read that touch on this subject this seems as though it references file thickness.

@Anonymous how many accounts do you have?

Re: Fico score breakdown confusion

Mr_Mojo_Risin — Thu, 11 Mar 2021 18:51:19 GMT

It has to do with having to few accounts.

I stopped getting that negative reason code after opening my 5th account I believe.

Re: Fico score breakdown confusion

Anonymous — Thu, 11 Mar 2021 19:48:48 GMT

Ok thank i was confused about that..so this is my accts list

Capital One. $3800 ..20yrs Au

Credit One. Amex $ 500.. 1mo

Hughes federal CU $2200.. 2mo (secured) LOC $500. Personal loan $300

AMEXskymiles plat. $1700 .1 mo

NFcu. Platinum (5.99%) $3000. 1mo

1 DEROG

Cox cable collections $634 (3yrs 7 mo ) (paid for less 1/21)

I think it might be from me Derog still showing?

That is my file..that i know of other than fall off's no longer showing..

Re: Fico score breakdown confusion

Anonymous — Thu, 11 Mar 2021 19:51:27 GMT

The Amex plat, NFcu, Credit One. Are not showing on my report yet.

Re: Fico score breakdown confusion

dragontears — Thu, 11 Mar 2021 19:53:11 GMT

@Anonymous wrote:
Ok thank i was confused about that..so this is my accts list
Capital One. $3800 ..20yrs Au
Credit One. Amex $ 500.. 1mo
Hughes federal CU $2200.. 2mo (secured) LOC $500. Personal loan $300
AMEXskymiles plat. $1700 .1 mo
NFcu. Platinum (5.99%) $3000. 1mo
1 DEROG
Cox cable collections $634 (3yrs 7 mo ) (paid for less 1/21)
I think it might be from me Derog still showing?
That is my file..that i know of other than fall off's no longer showing..

Are you sure that all of those accounts are currently reporting? Specifically, Amex generally reports after 2-3 statements and you state that card is only a month old....

Re: Fico score breakdown confusion

Anonymous — Fri, 12 Mar 2021 03:31:12 GMT

Sounds like based on some of the OPs accounts having not showed up on his CR yet his file is borderline thick vs thin. Tough to tell, but with that negative reason statement I would say it's pointing to it being thin. The derog definitely doesn't help though. OP, what are your other negative reason codes and can you list them in order?

Re: Fico score breakdown confusion

Anonymous — Fri, 12 Mar 2021 05:56:58 GMT

BrutalBodyShots... none my only derog. Is cox cable..

Re: Fico score breakdown confusion

Anonymous — Fri, 12 Mar 2021 05:58:38 GMT

How long does NFcu take to report

Re: Fico score breakdown confusion

M_Smart007 — Fri, 12 Mar 2021 07:23:02 GMT

@Anonymous wrote:
How long does NFcu take to report

NFCU will usually report the second statement.

Re: Fico score breakdown confusion

Anonymous — Fri, 12 Mar 2021 10:10:47 GMT

Glad i'm gardening for a spell...

Re: Fico score breakdown confusion

Anonymous — Sat, 13 Mar 2021 06:41:28 GMT

The algo likes to see at least 7 paid as agreed accounts it seems.