FICO Score Stress Indicators/Indexes

[joeyv1985]

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@K-in-Boston wrote:

1:1 revolving:installment ratio?!?  That's just insane!  Even the "average consumer" is over that ratio.

BRB going to BMW dealer to buy 40 new cars so I can improve my Resilience score. I'm sure the extra $28,000/month in installment payments will make me seem like less of a risk.  😂 

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I hear ya. I was floored when she told me that. She actually put me on hold and asked her supervisor and she relayed the information to me. She suggested I close some CC's, and stopped right in her track by telling her that would drive my score down....

[Anonymous]

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@joeyv1985 wrote:

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@K-in-Boston wrote:

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@joeyv1985 wrote:

Experian just updated my Fico 8 score and it jumped 8 points to 755. I surmise it's because my Credit Untilization went from 10% to 8%. Hopefully this helps my FICO Resilience score. 

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My score got better by increasing utilization, adding a new revolving account, and adding a new refinanced installment account.  It's like everything that FICO 8 hates, the Resiliency score likes.  😂

While we are a pretty small sample size, I do find it quite interesting that those who have a history of doing exactly what this score is trying to predict seem to do better than those with squeaky clean reports.  Of course correlation does not equal causation.

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Interesting. Per a myFico Customer service rep I spoke to earlier in the week, she told me I had too many revolving accounts(I have 4 open and 3 closed) relative to the # of intallment loans I have(1 Mortgage, 1 Car Loan, 1 Closed Car loan). She told me the ratio should be 1:1. I just told her I'm going to pay my installment loans on time, keep my credit untilization under 10% at all times and stary away from any new accounts. We'll see. 

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That can't be right. This is profile data from the person who scored a 41 "Resilient":

1 CO - paid, due to drop off CR in next 2-3 months

5 CAs - 1 pfd CA was deleted this month and still waiting on 1 other pfd to delete, but it is still listed in it's entirety on this pull

1 installment loan - 25% bal/$48 mothly payment

3 CCs - at AZEO, <1% aggregate, 3% individual on non-zero bankcard with $10 payment due.

7 of 11 defaulted SLs and 2 of 5 CAs are reporting "affected by natural/declared disaster"

I am at 75% CCs / 25% installment loans credit mix

$58 in total monthly obligations reported for May 2020

AoOA 18y 5m | AAoA 9y 4m

EQ 8: 605 | EQ 9: 671 | EQ 5: 641

I would say that very low balances combined with a decent length of credit history are the overriding factors.

[joeyv1985]

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@Anonymous wrote:

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@joeyv1985 wrote:

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@K-in-Boston wrote:

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@joeyv1985 wrote:

Experian just updated my Fico 8 score and it jumped 8 points to 755. I surmise it's because my Credit Untilization went from 10% to 8%. Hopefully this helps my FICO Resilience score. 

---

My score got better by increasing utilization, adding a new revolving account, and adding a new refinanced installment account.  It's like everything that FICO 8 hates, the Resiliency score likes.  😂

While we are a pretty small sample size, I do find it quite interesting that those who have a history of doing exactly what this score is trying to predict seem to do better than those with squeaky clean reports.  Of course correlation does not equal causation.

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Interesting. Per a myFico Customer service rep I spoke to earlier in the week, she told me I had too many revolving accounts(I have 4 open and 3 closed) relative to the # of intallment loans I have(1 Mortgage, 1 Car Loan, 1 Closed Car loan). She told me the ratio should be 1:1. I just told her I'm going to pay my installment loans on time, keep my credit untilization under 10% at all times and stary away from any new accounts. We'll see. 

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That can't be right. This is profile data from the person who scored a 41 "Resilient":

1 CO - paid, due to drop off CR in next 2-3 months

5 CAs - 1 pfd CA was deleted this month and still waiting on 1 other pfd to delete, but it is still listed in it's entirety on this pull

1 installment loan - 25% bal/$48 mothly payment

3 CCs - at AZEO, <1% aggregate, 3% individual on non-zero bankcard with $10 payment due.

7 of 11 defaulted SLs and 2 of 5 CAs are reporting "affected by natural/declared disaster"

I am at 75% CCs / 25% installment loans credit mix

$58 in total monthly obligations reported for May 2020

AoOA 18y 5m | AAoA 9y 4m

EQ 8: 605 | EQ 9: 671 | EQ 5: 641

I would say that very low balances combined with a decent length of credit history are the overriding factors.

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I agree. I just didn't add up. If I were to critique myself, these would be my flags: Too Many inquiries in the past 12 months and limited credit history. I plan on laying low/gardening for the next 18 months, so that should take care of those concerns provided my spending is kept in check, which it should. With CLI's and aging accounts, hopefully I can hit 800 on one of my Fico 8 scores in 6-12 months. 

[Anonymous]

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@K-in-Boston wrote:

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@joeyv1985 wrote:

Experian just updated my Fico 8 score and it jumped 8 points to 755. I surmise it's because my Credit Untilization went from 10% to 8%. Hopefully this helps my FICO Resilience score. 

---

My score got better by increasing utilization, adding a new revolving account, and adding a new refinanced installment account.  It's like everything that FICO 8 hates, the Resiliency score likes.  😂

While we are a pretty small sample size, I do find it quite interesting that those who have a history of doing exactly what this score is trying to predict seem to do better than those with squeaky clean reports.  Of course correlation does not equal causation.

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@K-in-Boston did your instalment monthly liabilities go down?

[Anonymous]

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@joeyv1985 wrote:

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@K-in-Boston wrote:

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@joeyv1985 wrote:

Experian just updated my Fico 8 score and it jumped 8 points to 755. I surmise it's because my Credit Untilization went from 10% to 8%. Hopefully this helps my FICO Resilience score. 

---

My score got better by increasing utilization, adding a new revolving account, and adding a new refinanced installment account.  It's like everything that FICO 8 hates, the Resiliency score likes.  😂

While we are a pretty small sample size, I do find it quite interesting that those who have a history of doing exactly what this score is trying to predict seem to do better than those with squeaky clean reports.  Of course correlation does not equal causation.

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Interesting. Per a myFico Customer service rep I spoke to earlier in the week, she told me I had too many revolving accounts(I have 4 open and 3 closed) relative to the # of intallment loans I have(1 Mortgage, 1 Car Loan, 1 Closed Car loan). She told me the ratio should be 1:1. I just told her I'm going to pay my installment loans on time, keep my credit untilization under 10% at all times and stary away from any new accounts. We'll see. 

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@joeyv1985 That's totally insane you got a 50% ratio, nobody has gotten a flag for that I'm aware of! Madness!

[Anonymous]

I think you got a misinformed CSR, just like we do sometimes with lenders; maybe you should try a second call and see if you get the same answer. Because that’s just insane and outside the realm of believability. I mean I believe you, I just don’t believe they are correct.

[joeyv1985]

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@Anonymous wrote:

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@joeyv1985 wrote:

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@K-in-Boston wrote:

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@joeyv1985 wrote:

Experian just updated my Fico 8 score and it jumped 8 points to 755. I surmise it's because my Credit Untilization went from 10% to 8%. Hopefully this helps my FICO Resilience score. 

---

My score got better by increasing utilization, adding a new revolving account, and adding a new refinanced installment account.  It's like everything that FICO 8 hates, the Resiliency score likes.  😂

While we are a pretty small sample size, I do find it quite interesting that those who have a history of doing exactly what this score is trying to predict seem to do better than those with squeaky clean reports.  Of course correlation does not equal causation.

---

Interesting. Per a myFico Customer service rep I spoke to earlier in the week, she told me I had too many revolving accounts(I have 4 open and 3 closed) relative to the # of intallment loans I have(1 Mortgage, 1 Car Loan, 1 Closed Car loan). She told me the ratio should be 1:1. I just told her I'm going to pay my installment loans on time, keep my credit untilization under 10% at all times and stary away from any new accounts. We'll see. 

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@joeyv1985 That's totally insane you got a 50% ratio, nobody has gotten a flag for that I'm aware of! Madness!

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I'm telling Birdman7, when she told me that, I had no rebuttle. Everything that I was taught, was wrong according to her logic. Flabergasted. 

[joeyv1985]

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@Anonymous wrote:
I think you got a misinformed CSR, just like we do sometimes with lenders; maybe you should try a second call and see if you get the same answer. Because that’s just insane and outside the realm of believability. I mean I believe you, I just don’t believe they are correct.

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Bingo. I may give it another try in about a week or so. My Citi AAD just reported and it bumped my Experian FICO by 7 points to 755, so I'm just curious what my across the board FICO scores will be on this myFICO website in the next couple days. I'm going to assess the data and see if it changes anything. 

[CreditobsessedinFL]

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@Anonymous wrote:

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@joeyv1985 wrote:

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@K-in-Boston wrote:

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@joeyv1985 wrote:

Experian just updated my Fico 8 score and it jumped 8 points to 755. I surmise it's because my Credit Untilization went from 10% to 8%. Hopefully this helps my FICO Resilience score. 

---

My score got better by increasing utilization, adding a new revolving account, and adding a new refinanced installment account.  It's like everything that FICO 8 hates, the Resiliency score likes.  😂

While we are a pretty small sample size, I do find it quite interesting that those who have a history of doing exactly what this score is trying to predict seem to do better than those with squeaky clean reports.  Of course correlation does not equal causation.

---

Interesting. Per a myFico Customer service rep I spoke to earlier in the week, she told me I had too many revolving accounts(I have 4 open and 3 closed) relative to the # of intallment loans I have(1 Mortgage, 1 Car Loan, 1 Closed Car loan). She told me the ratio should be 1:1. I just told her I'm going to pay my installment loans on time, keep my credit untilization under 10% at all times and stary away from any new accounts. We'll see. 

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That can't be right. This is profile data from the person who scored a 41 "Resilient":

1 CO - paid, due to drop off CR in next 2-3 months

5 CAs - 1 pfd CA was deleted this month and still waiting on 1 other pfd to delete, but it is still listed in it's entirety on this pull

1 installment loan - 25% bal/$48 mothly payment

3 CCs - at AZEO, <1% aggregate, 3% individual on non-zero bankcard with $10 payment due.

7 of 11 defaulted SLs and 2 of 5 CAs are reporting "affected by natural/declared disaster"

I am at 75% CCs / 25% installment loans credit mix

$58 in total monthly obligations reported for May 2020

AoOA 18y 5m | AAoA 9y 4m

EQ 8: 605 | EQ 9: 671 | EQ 5: 641

I would say that very low balances combined with a decent length of credit history are the overriding factors.

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Hi Cassie,

my score for this month is 58, down one point from 59. Only one red flag this time, high installment loan balances. 

[K-in-Boston]

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@Anonymous wrote:

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@K-in-Boston wrote:

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@joeyv1985 wrote:

Experian just updated my Fico 8 score and it jumped 8 points to 755. I surmise it's because my Credit Untilization went from 10% to 8%. Hopefully this helps my FICO Resilience score. 

---

My score got better by increasing utilization, adding a new revolving account, and adding a new refinanced installment account.  It's like everything that FICO 8 hates, the Resiliency score likes.  😂

While we are a pretty small sample size, I do find it quite interesting that those who have a history of doing exactly what this score is trying to predict seem to do better than those with squeaky clean reports.  Of course correlation does not equal causation.

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@K-in-Boston did your instalment monthly liabilities go down?

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No, they actually increased due to a much shorter loan term on a new student loan refi appearing.  I'm not joking when I say that the only factors that changed to lower my risk on this new score are all factors that negatively affect normal FICO scoring.