I thought it was interesting that my SO had a couple red flags.
Here's a couple DPs:
* Apparently a red flag for being an AU on too many accounts, he only has 1 card of mine he is an AU on and that is just 1 too many for their liking!
* Installment loan(s) balances too high - interesting because it can't be the SLs, as he has half the amount in SLs compared to me. Only thing I can think of is his SSL. My payment is $48/mo, 34% util, $234 bal and his is $150, 91.7% util, $1534 bal. They may also be accounting for his 2 COs (1 Auto Loan and 1 Secured Installment?)
* Overall:
AAoA 8y 11m
AoOA 15y 10m
AoYA 1m
7 SLs defaulted, but all in rehab roughly $500/mo in standard repayment and 60k bal, all over 100% util
11 closed SLs
1 CO/Repo Auto Loan, unpaid & closed
1 CO Secured Installment, unpaid & closed
% of CC
Open Accounts Only 20%
Open & Closed Accounts 13%
1.5% util $12 reported bal on $800 revolving credit on 2 bank cards (one AU - the revolver w/ reported bal)
No mortgage
3 CAs, unpaid
1/12 & 1/24 inq EQ, TU, and EX
3/12 & 3/24 new accounts (including AU acct)
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:I was beginning to wonder if I was crazy as well because I did not see it on mobile either. I’ll be looking for it when I refresh.
I'm going to guess your score will be in the 63-66 range.
Reasons to include:
1) Sheer number of accounts.
2) Sleep deprivation!
Equifax says that up to 5 reasons can be shown. (See EQ links I posted earlier.)
@Anonymous You are good! I'm at 64 with 2 flags: high installment balance and high percentage of revolvers!
Yes @Anonymous,
You are a guru, I finally got mine. The deferred student loans and % of balances of the student loans are my red flags.
@Remedios wrote:
@Anonymous wrote:
@Remedios wrote:I've been employed at the same place for a well over a decade, income in six figures, mortgage paid off, paid off auto loans, utilization typically ultra low, and yet, here I am slumming in the mid 60s because I let card report like it should and had no active loan...because I paid them off.
Hey, you're probably still a much lower credit risk than many companies in the United States. Their debt levels were alarming well before this crisis.
I looks like this score was a joint development. Equifax says in their product sheet that FICO ran the analysis on credit profile data around the time of the Great Recession. Maybe they only used Equifax collected profile data rather than the 3 CRA aggregate data. It does say that it's used in conjunction with a FICO score, which I assume to be EQ 8.
From the Equifax product sheet (direct PDF link):
Higher resilience customers tend to have:
- Fewer credit inquiries in the last year
- Fewer active accounts
- Lower total revolving balances
- More experience managing credit
My inq are sparse now (didnt used to be that way), I've managed many accounts successfully, and if I can make sure 15 are paid on time, how is that more complex than one or two, unless that is a reference to available credit.
I'm unclear what an "active" account is. Is it any account that's open, or literal meaning *account showing signs of activity reflected as presence of balance*.
I'd bet my bum and left kidney that next time instead of bishing about me not having an open loan, it's going to bish about me having an open loan.
Now imagine a situation in which they started "resilience score if you live in hurricane prone areas"...wouldnt fly, there would be an outrage.
Perhaps next time Halley's comet passes near by, they can include that as a risk factor, because some may anticipate apocalypse and quit paying their bills in anticipation.
I guess it's a way to say "Our regular scoring models only work during rainbows and unicorn economy stages. Everything else sold separately"
I could reach 800 if I sit in the garden for six months, but I'm higher risk than someone with charge offs and open collections (no offense to the members im just trying to wrap my mind around this).
As soon as everything is reflected on EQ, I'll pull my reports and see what, if anything changed. My utilization will be rounded to 1%, maybe $2500 reporting, there will be a brand new, fully utilized loan with tiny payments $101.00 iirc.
Im assuming this score changes just like all others do with changes on CR.
I certainly wont be doing anything differently because of this, but I find it somewhat irksome.
If I sound extra salty, it's because I'm extra salty 😂
It clearly states:
I will take the shot, it is clear it is me. So there is no need to be bitter about it, as they still will focus on your clearly better FICO scores than mine if we were both to seek credit, I assume it is a no-brainer.
From what I can gather is I have low CC to overall accounts ratio with low balances due across the board. I only have 3 CCs that were recently acquired while the last credit products I obtained were closer to a decade or more ago, so I clearly don't credit seek. If it hit the fan, I have next to nothing I owe and creditors can rest easy that I could keep up with my financial obligations, but I still have "bad credit". I assume my SLs may not be fugured into this equation because of who knows why...they can be deferred? Whatever, I am still a high risk according to FICO scoring, but have next to no debt otherwise if I had no money. I'm not hurt by it at all, but at least I know once my scores improve, my profile is at least somewhat appealing and "stable" according to this abstract and probably worthless calculation, but I am still happy in the midst of having crap credit that I am doing something "right".