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NFCU SSL Reporting..next steps?

Saeren
Mega Contributor

Re: NFCU SSL Reporting..first ever 0 point gain?


@lowspender wrote:

@Birdman7 wrote:
If you don’t know your previous score than there’s no way to gauge the difference.

That's disappointing. Fico factors into TU and Exp too though, doesn't it.. seems like it would have to make a difference that I could track..
Paying it down a day later- meaning I should have waited longer? It didn't report for a few weeks after, it seemed paying it down right away was acceptable..


Nah you did it right. 



Message 11 of 43
Saeren
Mega Contributor

Re: NFCU SSL Reporting..first ever 0 point gain?


@lowspender wrote:
@Saeren wrote:

You mention Credit Karma. Is that where you are getting your scores? FICO scores should have moved but Vantage does what it wants to do which is why creditors don't usually use it. You can sign up at Experian.com for Credit Works and pull your FICO scores for all three bureaus for either free or $1 depending on what they offer you. 


After paying for a trial at Experian, I am not sure what scores Ck is reporting to me. While I'm sure they're far from a gold standard around here, I've appreciated the TU and Equ updates they've given me. I am offsetting my disappointment in not knowing the actual number jump with results I wasn't expecting..
There's a significant gap between what Ck says are the TU and Equ results compared to what Exp says how those same bureaus score me. 

Biggest factor is Exp sees my length of credit history as "good" but dings me for it in "what's hurting your score," where Equ and TU see it as "fair" but list it in the "what's helping your score section. not confusing.. Smiley Happy

 

I can put actual numbers in, wondering about the order of a few more steps, if that's ok in this subthread. I would alter the title. If not I can put it elsewhere..

 

@Saeren wrote:


That's one of the benefits I got from my app sprees... my credit is so thick now that a new account drops my age by a single month. Very easy to isolate single changes. 

A thin file and fixing that with another card is something I want to figure out next steps for, wherever the place for that is..


Only the negative reason codes are relevant. The positive ones are generated by the CMS front end and are actually meaningless in scoring. 

FICO is the gold standard for lending so it's good that you are now aware of what your real scores are, not that you go to apply for something and are shocked by the score (although this can still happen because there are many different FICO scores, the most commonly used scores for credit cards are the FICO 8s you just got). 



Message 12 of 43
Birdman7
Super Contributor

Re: NFCU SSL Reporting..first ever 0 point gain?

@lowspender Believe me you got the gains if that's your only loan, even though you may not be able to quantify them. 

so what are your scores now that you checked them? And yes your negative Reason codes? And how many accounts and cards do you have now? You said you're trying to get to a thick profile? Sure we can help you in this thread.

-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.

RIP:

(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 13 of 43
Birdman7
Super Contributor

Re: NFCU SSL Reporting..first ever 0 point gain?

Yeah CK is great to monitor changes in your file but the scores are pretty much meaningless.
-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.

RIP:

(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 14 of 43
lowspender
Valued Member

Re: NFCU SSL Reporting..first ever 0 point gain?


@Saeren wrote:


Only the negative reason codes are relevant. The positive ones are generated by the CMS front end and are actually meaningless in scoring.  

Ha..that's funny. Ok, I expect some differences between the bureaus or they'd be saying the same thing. Knowing that, does it make sense for the same variable to be the positive and negative, depending on the bureau, and for them to respond oppositely of each other?
Length of credit is what Experian dings me points for, while rating that variable as good.. the other 2 give me more points, partly for that same component, yet rate my credit length worse, at "fair."
That's separate from the "positive" I think you're referring to, on the overview- I'm looking at the components in the breakdown..

 

@Saeren wrote:

FICO is the gold standard for lending so it's good that you are now aware of what your real scores are, not that you go to apply for something and are shocked by the score (although this can still happen because there are many different FICO scores, the most commonly used scores for credit cards are the FICO 8s you just got). 


Yeah, looking at the mortage and auto fico etc. I definitely have room to improve and will try to find a breakdown to learn/build the other ficos on the forum here.. I am definitely a bit shocked, in a positive direction though...

Message 15 of 43
lowspender
Valued Member

Re: NFCU SSL Reporting..first ever 0 point gain?


@Birdman7 wrote:

so what are your scores now that you checked them? And yes your negative Reason codes? And how many accounts and cards do you have now? You said you're trying to get to a thick profile? Sure we can help you in this thread.


The negative is all based around credit length, which may not have made sense in my explanation to Saeren. It's reversed in rating and outcome between the bureaus, I don't get it.

2 cards, this SSL, Experian suggests 5 accounts. 
I want a cli for my tiny newer chase card (hp).. and I wanted to apply for an amex blue cash or whatever ends up being a good fit. Amex for the 90 3x cli and Chase b/c now I've solved the reason that they gave me such a low limit to begin with. Then again,  I don't know what bureau the Card Aquisition Risk Score V2 pulls from (on my chase acceptance letter) & how internal that is.. also, if the significant jump in 4.5 months would cause them to reevaluate or punt based on time.

 

@Birdman7 wrote:
Yeah CK is great to monitor changes in your file but the scores are pretty much meaningless.

So what CK says my TU score is..isn't what it was at all, just an estimate? Or that anything outside of getting a number directly from fico is meaningless?
CK put me at TU 762, Exp 755, again down about 10 points from a few months ago, can't tell why.

My subscription puts my Experian score at 773 (was the 755 accurate and this is an 18 point jump, or 755 was.. randomly generated? lol).

Killing it though is Equ at 828 and TU at 835 (whoo! I hoped for 800!). Same question with TU, did I jump that much or was CK rando..?

Message 16 of 43
M_Smart007
Epic Contributor

Re: NFCU SSL Reporting..first ever 0 point gain?

@lowspender, Your jump on Experian is probably 100% correct (just a hunch)

You cannot go by Credit Karma scores/ They are Vantage 3.0.

 

You need to do a (3) credit bureau pull from Experian or myFICO to check your EQ and TU scores.

BoA, Discover and a few others... offer free TU FICO8 scores but it is updated when they do SP's on your credit.

 

Maybe @AllZero can add credit check trial macro?

 

@Birdman7, Might also explain some other things, in much better detail than I can.

The scoring primer has tons of info in it.

Our Community’s updated scoring wisdom: Link to Scoring Primer.

 (Thank you Birdman7 for all your hard work)

 

Different profiles react differently to having an SSL .. on average I seen roughly about a 35 point gain across all 3 bureas.

give or take a few points.

 

Wishing you the best, Good Luck!




Message 17 of 43
AllZero
Super Contributor

Re: NFCU SSL Reporting..first ever 0 point gain?

@M_Smart007  looks like message 16 shows FICO scores?

 

Great job on the scores @lowspender !

Message 18 of 43
M_Smart007
Epic Contributor

Re: NFCU SSL Reporting..first ever 0 point gain?


@AllZero wrote:

@M_Smart007  looks like message 16 shows FICO scores?

 

Great job on the scores @lowspender !


@AllZero, Sorry .. very tired and must have miss interpreted the post.




Message 19 of 43
AllZero
Super Contributor

Re: NFCU SSL Reporting..first ever 0 point gain?

No worries 😊
Message 20 of 43
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