1 Year old HP Inquiry -

[Thomas_Thumb]

To the best of my knowledge inquiry score impact age off is based on anniversary date. However, I only track scores monthly so I can't confirm exact timing - but I do know my June score (INQ dropped off later in June) did not show the point increase. The EQ Fico increases all showed in my July 3B and Citi reports

I think getting your loan balance down to anything under 60% is solid ground. Revelate may have a better idea on breakpoints. Where are you at now % wise?

[Anonymous]

I'm at around 85-90%. So why does EX and TU not have the same hindering factor calculations? 

[Thomas_Thumb]

That score difference is not related to loan balance % as it would affect score from any CB report it shows up on the same way as they use the same Fico 8 model - I gather the loan is on all CB reports.

The score offset must be do to something in that specific credit report that is not in the others (I had that issue - an inquiry on EQ but not the other two).

I also have differences  on my CRA reports for computed AAoA & number of accounts. The AAoA is 2 years lower on one CB report because my newest CC which switched issuers shows as 2 separate accounts on the report instead of one open account with longer age, That report shows I have a closed account with the longer age and an open account only showing a lower age ( based on a more recent starting date associated with the new issuer).

Can't say much about your situation but look at the details.

P.S. Some posters indicate a possible score increase when remaining loan balance drops below 80%.

[Anonymous]

It was just odd that the installment loan was listed as a hindering factor only for EQ and not for the other two. For EX and Tu I believe that if there is a score effect from the auto loan it is small and that the only thing weighing those two down is my inquiries and time. 

The auto laon is listed on all three. 

Now as far as EQ, it has the most inquiries of all three. And it has the bulk of the auto inquiries (10+) that were run last November. I'm thinking that has a big hangover effect that will only be known once they age off scoring wise. EQ has more than double the inquiries versus the other two. 

Additionally now that you highlighted it, my AAOA for EX is 3.5+ years longer than for the other two. 

So from what you have said, I think the score difference is more so found in the inquiries and AAOA factors. I find this stuff very interesting. 

[Revelate]

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@Anonymous wrote:

I'm at around 85-90%. So why does EX and TU not have the same hindering factor calculations? 

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Because there's other things in your profile in the top 4.  I have had that on all 3 previously.

Anyway breakpoints I think are 20% when I dumped the message (this number was backed into based on my score movement over time with paying off / down installment loans) but in theory it's possible to be 30 or even 40%.

There was another 80% breakpoint that's been reported for scores (there's at least 2 breakpoints) but I still had that message when I was at 60%.

[Thomas_Thumb]

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@Revelate wrote:

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 Anyway breakpoints I think are 20% when I dumped the message (this number was backed into based on my score movement over time with paying off / down installment loans) but in theory it's possible to be 30 or even 40%.

There was another 80% breakpoint that's been reported for scores (there's at least 2 breakpoints) but I still had that message when I was at 60%.

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Thanks for the information. I hope the lower threshold is 40%. My mortgage scores are stalled out. I should drop below 40% balance remaining on my 15 year mortgage in January 2016. Hopefully that will trigger a score increase. I'll probably purchase a 3B report in February to check impact on all my mortgage scores.

Perhaps the breakpoints are 80% and 40% - if there are only two.

[Revelate]

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@Thomas_Thumb wrote:

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@Revelate wrote:

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 Anyway breakpoints I think are 20% when I dumped the message (this number was backed into based on my score movement over time with paying off / down installment loans) but in theory it's possible to be 30 or even 40%.

There was another 80% breakpoint that's been reported for scores (there's at least 2 breakpoints) but I still had that message when I was at 60%.

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Thanks for the information. I hope the lower threshold is 40%. My mortgage scores are stalled out. I should drop below 40% balance remaining on my 15 year mortgage in January 2016. Hopefully that will trigger a score increase. I'll probably purchase a 3B report in February to check impact on all my mortgage scores.

Perhaps the breakpoints are 80% and 40% - if there are only two.

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Will be interested in what you find!

Conflicting reports here lately on how mortgages are scored; figure my own file though is well known enough that when Chase does report my new mortgage, it should be able to put the nail in that coffin at least.