topic Re: EX FICO 2 - Not Using ... redux in Understanding FICO® Scoring

EX FICO 2 - Not Using ... redux

expatCanuck — Thu, 21 Oct 2021 01:07:17 GMT

So -- EX FICO 2 (790), Auto 2 (795) and BankCard 2 (807) are all reporting (in addition to a new account and seeking credit) Not Using Revolving Credit.

16 cards, AZEO, which is reporting ~ $900 (out of an available $40K). This is the card I typically allow to report -- usually with a lower balance.

FICO8 is 806.

Refi just reported.

Thoughts as to why my (clean) profile is getting the Not Using reason code?

Re: EX FICO 2 - Not Using ... redux

dragontears — Thu, 21 Oct 2021 02:29:19 GMT

@expatCanuck wrote:
So -- EX FICO 2 (790), Auto 2 (795) and BankCard 2 (807) are all reporting (in addition to a new account and seeking credit) Not Using Revolving Credit.

16 cards, AZEO, which is reporting ~ $900 (out of an available $40K). This is the card I typically allow to report -- usually with a lower balance.

FICO8 is 806.

Refi just reported.

Thoughts as to why my (clean) profile is getting the Not Using reason code?

Mortgage scores i.e. EX2 ignores revolving credit with limits above ~35k

Re: EX FICO 2 - Not Using ... redux

expatCanuck — Thu, 21 Oct 2021 03:27:10 GMT

Very helpful.

Thanks kindly.

Re: EX FICO 2 - Not Using ... redux

SouthJamaica — Thu, 21 Oct 2021 14:00:39 GMT

@expatCanuck wrote:
So -- EX FICO 2 (790), Auto 2 (795) and BankCard 2 (807) are all reporting (in addition to a new account and seeking credit) Not Using Revolving Credit.

16 cards, AZEO, which is reporting ~ $900 (out of an available $40K). This is the card I typically allow to report -- usually with a lower balance.

FICO8 is 806.

Refi just reported.

Thoughts as to why my (clean) profile is getting the Not Using reason code?

What leaps to mind for me is that the older scoring models, to which you are referring, are believed by many to discount accounts with limits of 35k or greater and credit union accounts. I can't say for certain whether that's true or not, but many believe it is.

So what I would do is shift my one reporting balance to one of the lower limit bank cards, and see what happens.

Re: EX FICO 2 - Not Using ... redux

expatCanuck — Mon, 15 Nov 2021 14:57:45 GMT

@SouthJamaica

Well, I currently have 5 of 17 cards reporting -- pretty much by accident.

One has $9 owing on a $16K line (TD), another has $45 on a $25K line (Aff. credit union), a third has $45 against $30K (Amex BCP). The other two are small balances against cards w/ $30K and $40K.

And I'm still seeing the Not Using code on FICO 2.

Re: EX FICO 2 - Not Using ... redux

SouthJamaica — Mon, 15 Nov 2021 15:44:49 GMT

@expatCanuck wrote:
@SouthJamaica
Well, I currently have 5 of 17 cards reporting -- pretty much by accident.

One has $9 owing on a $16K line (TD), another has $45 on a $25K line (Aff. credit union), a third has $45 against $30K (Amex BCP). The other two are small balances against cards w/ $30K and $40K.

And I'm still seeing the Not Using code on FICO 2.

Then I have no idea why you're getting that code.