topic Re: Fico Resilience Score went down in Understanding FICO® Scoring

Fico Resilience Score went down

805orbust — Mon, 26 Sep 2022 12:35:14 GMT

This thing is wacky ad all getout. It's been at 77 for as long as I can remember. Now it just dropped to 75 so I guess that's better? Any ideas as to why? My utilization went from 14% to 13% and I closed 3 cards, 2 of which have reported. Wondering if those DP's affected it at all?

Re: Fico Resilience Score went down

ambivalent — Mon, 26 Sep 2022 17:39:31 GMT

You are right, the lower your resilience score the better. You lowered your utilization and amounts of accounts reporting, so now you may be more resilient to an economic event/hardship. That is how I read the index. It's a good thing!

Re: Fico Resilience Score went down

805orbust — Mon, 26 Sep 2022 19:00:41 GMT

Weirdest thing ever. Honestly think I'm reaching the limit of calculations that my brain can monitor with this stuff

Re: Fico Resilience Score went down

FireMedic1 — Mon, 26 Sep 2022 19:23:23 GMT

From MyFico Dashboard:

730's and I'm a sensitive risk due to my auto loan balance is too high. CK alerted me yesterday I just paid down my loan >11%. I'll see what Oct's 3B pull says.

¯\_(ツ)_/¯

Re: Fico Resilience Score went down

SouthJamaica — Mon, 26 Sep 2022 21:27:08 GMT

@FireMedic1 wrote:
From MyFico Dashboard:
730's and I'm a sensitive risk due to my auto loan balance is too high. CK alerted me yesterday I just paid down my loan >11%. I'll see what Oct's 3B pull says.
¯\_(ツ)_/¯

Me, I have 2 strikes against me in the "Resilience Index" world, 1 of which makes sense (that I have too much revolving debt at the moment), the other of which makes no sense to me (that I don't have more open installment loans in proportion to my revolving balances -- i.e. if I converted some of my revolving debt to installment debt they would feel better about me). Fortunately I'm still just barely hanging on to being in the "moderate" class.

Re: Fico Resilience Score went down

805orbust — Tue, 27 Sep 2022 02:58:04 GMT

Just checked and it said I had (1) high revolving balances which is weird because most are at 0 and the 4 or 5 that have balances are all a few hundred - a thousand bucks save for a balance xfer on a 0% offer. Aggregate util is at 13%. (2) installment loan balances, which I get because the Mrs car turns a year old in 2 weeks so it's still about 70%, and the Penfed Car loan I got 2 months ago and am about to pay off is still showing about 90%. I'll be paying both off in a month or so and will report back.

These reason codes make less sense than the credit score reason codes. Also @FireMedic1 that's gotta be about the lowest Resilience score I've ever seen... nice... I think 😄

Re: Fico Resilience Score went down

Jeffster1 — Tue, 27 Sep 2022 11:35:15 GMT

I never even checked this before. I'm at 52.

Re: Fico Resilience Score went down

805orbust — Tue, 27 Sep 2022 23:44:38 GMT

WOW!!! @Jeffster1 dude that is REALLY good!!! Dang

Re: Fico Resilience Score went down

disdreamin — Wed, 28 Sep 2022 00:24:37 GMT

@FireMedic1 wrote:
From MyFico Dashboard:
<snip>
730's and I'm a sensitive risk due to my auto loan balance is too high. CK alerted me yesterday I just paid down my loan >11%. I'll see what Oct's 3B pull says.
¯\_(ツ)_/¯

Yeah, my loan balance is something that resilience score flags me for. For my $8k auto loan from last summer that is now under $1.5k and should be gone in three months. I bet it will hate when I don't have a loan any more.

Re: Fico Resilience Score went down

Jeffster1 — Wed, 28 Sep 2022 00:29:56 GMT

@805orbust wrote:
WOW!!! @Jeffster1 dude that is REALLY good!!! Dang

Thanks, @805orbust. I was surprised.

Re: Fico Resilience Score went down

2b2rich — Sun, 02 Oct 2022 01:53:23 GMT

Mine was at 64 for the longest time then I took out a new auto loan which of course was at 100% of the loan when it first reported last month and I noticed my resilience score went up 2 pts to 66. I finally have all of my credit cards down to zero balances except for 3 which isn't a lot combined so we'll see went all of those zero balances update if anything changes.

Re: Fico Resilience Score went down

805orbust — Sun, 02 Oct 2022 16:59:01 GMT

@2b2rich I would love to see where it goes once updated.

Re: Fico Resilience Score went down

2b2rich — Sun, 02 Oct 2022 17:43:34 GMT

@805orbust wrote:
@2b2rich I would love to see where it goes once updated.

I doubt mine will move much at all for awhile. I just app'd and was approved for 3 new cards yesterday and a $15,000 personal loan from PenFed hasn't hit any of my reports yet so with that new loan being at 100% and 4 new accounts, I will be lucky if all of my cards I just paid off will wash with the new credit I am pretty certain the new accounts are going to hurt my reselience score.. so yeah, I can't wait to see mine once it's updated too!

Re: Fico Resilience Score went down

Lou-natic — Sun, 02 Oct 2022 20:35:45 GMT

Mines 58 so just hanging on to moderate. I think it used to be a 55ish and went up slightly to 58 when I got my mortgage.

Re: Fico Resilience Score went down

expatCanuck — Mon, 03 Oct 2022 20:21:43 GMT

When lenders start using the so-called 'Resilience' score (which takes into account neither income nor savings), I'll pay it some heed. Until then ... .

Re: Fico Resilience Score went down

RobynJ — Mon, 03 Oct 2022 14:12:26 GMT

Mine went up last month 2 points and just dropped back down 2 points because I went to AZEO

Re: Fico Resilience Score went down

805orbust — Mon, 03 Oct 2022 18:52:32 GMT

WOW!!! @RobynJ that is so cool! Kind of nutty that AZEO only dropped you by 2 points.. what in the world are these people looking for?

Re: Fico Resilience Score went down

expatCanuck — Mon, 03 Oct 2022 20:23:59 GMT

Depending on one's profile and existing score, AZEO may not raise your FICO 8 score. It tends not to impact mine.

But it almost certainly will raise one's FICO 2 (mortgage) score.

Dunno 'bout the BankCard score.

Re: Fico Resilience Score went down

Jeffster1 — Tue, 04 Oct 2022 01:57:52 GMT

About 4 months after DC (early 2021), my EX dropped 20 points from 666 to 646 when all zero balances reported (4 cards), and bounced back when I left a small balance on a card.

i don't know if it would have an impact now but I am hesitant to try.

Re: Fico Resilience Score went down

805orbust — Tue, 04 Oct 2022 02:57:16 GMT

@expatCanuck and @Jeffster1 I never gave thought to the fact that it may affect different scoring models differently. I've never done it, however I'll be applying for a mortgage in the next 18 months or so and will DEFINITELY be doing it for that. I'll probably realize the stated goal in my username as well