topic Re: FICO Score test effects in Understanding FICO® Scoring

FICO Score test effects

slund5499 — Sat, 28 Feb 2015 20:54:45 GMT

Removed as AU on spouse Capital One QS ($2,000 CL with $1600 balance) and will see how long it takes to update to CRA. I am performing this test to see what affect this has on FICO scoring. Current fico are 666, 644 and 669. Utilization currently 33%.

I anticipate that Utilization will drop to 21%. But the 5 year history with perfect payments may hurt AAofA.

Will report once changes have een reported. If I do not like the ROI for this action, I can always be added back on as AU.

Re: FICO Score test effects

gdale6 — Sat, 28 Feb 2015 21:04:16 GMT

@slund5499 wrote:
Removed as AU on spouse Capital One QS ($2,000 CL with $1600 balance) and will see how long it takes to update to CRA. I am performing this test to see what affect this has on FICO scoring. Current fico are 666, 644 and 669. Utilization currently 33%.

I anticipate that Utilization will drop to 21%. But the 5 year history with perfect payments may hurt AAofA.

Will report once changes have een reported. If I do not like the ROI for this action, I can always be added back on as AU.

AAoA isnt going to be affected unless you asked for total removal of the account. AUs typically update to 0 balance, the CL is removed from your overall available CLs and a notation of relationship terminated is added.

Re: FICO Score test effects

slund5499 — Sat, 28 Feb 2015 21:24:01 GMT

Will the history still report or will that get wiped with the balance and CL?

Re: FICO Score test effects

gdale6 — Sun, 01 Mar 2015 02:36:37 GMT

@slund5499 wrote:
Will the history still report or will that get wiped with the balance and CL?

History is retained, the CL still shows its just not incl in utilization

Re: FICO Score test effects

slund5499 — Sun, 01 Mar 2015 04:00:56 GMT

The the balance and Cl will not be included in utilization? If so, then my utilization should drop and score should go up a few points.

Re: FICO Score test effects

racer-x — Sun, 01 Mar 2015 12:22:29 GMT

@slund5499 wrote:
The the balance and Cl will not be included in utilization? If so, then my utilization should drop and score should go up a few points.

I would not hold my breath in expecting to see a score increase. The best scenario would have been to keep the AU open and pay the balance down to sub 30% util or PIF entirely.

If the AU utilization on overall balances go from 80% to 30%, then a few points should be picked up. But if utiliz goes from 30 to 20, or even 70 to 30, I wouldnt expect much.

But lately, who the hell knows. You may lose points because you eat steak med rare, instead of med.

Re: FICO Score test effects

NRB525 — Sun, 01 Mar 2015 17:41:10 GMT

@slund5499 wrote:
Removed as AU on spouse Capital One QS ($2,000 CL with $1600 balance) and will see how long it takes to update to CRA. I am performing this test to see what affect this has on FICO scoring. Current fico are 666, 644 and 669. Utilization currently 33%.

I anticipate that Utilization will drop to 21%. But the 5 year history with perfect payments may hurt AAofA.

Will report once changes have een reported. If I do not like the ROI for this action, I can always be added back on as AU.

Your score increased from July 2014 to February 2015 because of what that changed in your file? You were added as AU on your spouse's card?

What month were you added as AU?

What was the driver of that ~70 point increase in scores in the last 8 months?

Re: FICO Score test effects

slund5499 — Sun, 01 Mar 2015 18:29:36 GMT

Not true on the 70 point driver. I have been on both of my spouse's 5 year old Cap One as an AU since she opened them.

Re: FICO Score test effects

slund5499 — Sun, 01 Mar 2015 19:08:08 GMT

70 Point driver....contributors:

CLI:

Capital One #1 AU from $500 to $2000 (June 2014)

Barclay CLI from $500 to $1000 (Aug 2014)

Capital One #1 AU from $2000 to $2500 (December 2014)

Capital One #2 AU from $500 to $2000 (December 2014)

New Accounts

November 2014:

Victoria Secret $350

Overstock $250

Abercrombie $250

Buckle $350

Installment loan (12 month) $2000

First Premier $300

December 2014:

Express $300

New York & Co. $350

Macy's $800

January 2015:

Walmart $700

February 2015

Amex Delta Skymiles $1000

Bank America Secured $500

Previous US Bank Secured graduated $300

Previous Wells Fargo Secured graduated $300

Overall utilization fell from $72% to 33%

Total Available Credit increased from $1600 to $14850

Other factors:

FP Charge off account PIF

Collection account removed from CR

2 Unpaid Tax lien still remains on TU (3rd from TU and all 3 from EQ and EX removed (unpaid).

Re: FICO Score test effects

NRB525 — Sun, 01 Mar 2015 19:41:47 GMT

Ok, that is critical additional information.

Your opening post could be significantly clarified with this information... Scores are a journey and removing an AU link is only one step of many you've taken in the last year. Any attempt to extrapolate your particular result in the next few weeks needs a heavy qualifier:

YMMV

Good luck, and good job on cleaning up your file!

Re: FICO Score test effects

gdale6 — Sun, 01 Mar 2015 20:04:27 GMT

@slund5499 wrote:
The the balance and Cl will not be included in utilization? If so, then my utilization should drop and score should go up a few points.

If you terminate yourself as an AU the balance drops to 0 and the entire TL is removed from being scored in any utilization calculations.