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Need help with DW scores

Stryder
Regular Contributor

Need help with DW scores

I have had 2 shocks this morning...

 

1. I check my EX score on CCT this morning and it was up 60  pts!!! from 679 to 739 overnight....my last derog fell off

2. All excited, I check my wifes and she still has 2 derogs that should fall off this month....she has been bumping along around 700 on credit seasame and a few other checks agreed. I was a little flustered hers, wasn't dropping off, so I signed her up for 3Band I was more shocked than my score....EQ 617  TU 610  EX 620 ??????

I signed her up for CCT and verifed those were indeed her scores...

 

I looked through her accounts and she shows no revolving reporting. She is a AU on three of my cards, now, fixing to be fore when AMEX  reports this week. Total CL for her is 11k and one shows a 10$ balance. It looked like they were reflecting on her Seame scores, but not on Fico8 I guess. It shows under Accounts...no valid revolving?? I thought Fico 8 recognized AU's??Her othe fico scores rane from 660 - 697 on average ...

 

How do I fix her fico 8? She has 2 installments, 1 new auto 28k, 90% util, and 1 Conns for $1500, 50%

Would her getting her own card help? I could match up a CC with A fico score she has that would get her a card, and get here something..

 

Let me know you thoughts

EQ - 717 TU-724 EX -725>
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Revelate
Moderator Emeritus

Re: Need help with DW scores

The presentation doesn't matter, the scores do.

 

AU's may or may not count on FICO 8 (anti-abuse algorithm).  Lenders sort of hate AU's historically, it'd be a solid idea to have her get her own tradelines too for other reasons (like if you get hit by a bus those cards will be closed and she'll be without them), but not having any revolvers counted is a major negative, and with her scores vs. yours and your descriptions, it's probably the case.

 

You do have a comparison point though, if you got a 3B for her, you have the other scores: explicitly look at the EQ FICO 5 score and compare it to FICO 8... if I'm right in my assertion, that score may be in the 670ish range with that 617 FICO 8 if the AU's aren't being counted.  We saw some examples when the EQ FICO score here changed from the older version to the FICO 8 model, where there was a 50 or so point disparity for multiple people who only had installment tradelines on their report.




        
Message 2 of 6
Stryder
Regular Contributor

Re: Need help with DW scores


@Revelate wrote:

The presentation doesn't matter, the scores do.

 

AU's may or may not count on FICO 8 (anti-abuse algorithm).  Lenders sort of hate AU's historically, it'd be a solid idea to have her get her own tradelines too for other reasons (like if you get hit by a bus those cards will be closed and she'll be without them), but not having any revolvers counted is a major negative, and with her scores vs. yours and your descriptions, it's probably the case.

 

You do have a comparison point though, if you got a 3B for her, you have the other scores: explicitly look at the EQ FICO 5 score and compare it to FICO 8... if I'm right in my assertion, that score may be in the 670ish range with that 617 FICO 8 if the AU's aren't being counted.  We saw some examples when the EQ FICO score here changed from the older version to the FICO 8 model, where there was a 50 or so point disparity for multiple people who only had installment tradelines on their report.


Dang Revelate.... your GOOD! Here fico 5 is 671 !!!!! I know whats going on now, I will work to fix her. She was sooo dissappointed after my good news....her score on the other websites were better than mine!

 

Thank you for your expertise!

EQ - 717 TU-724 EX -725>
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Revelate
Moderator Emeritus

Re: Need help with DW scores

You're quite welcome!  Should be an easy fix: after she gets a card I'd be interested to know what her score moves to.

 

Also, if you want to play with it: see if there are different addresses / names on the two of your reports... and if you have old addresses or broken names (or broken addresses) get those removed via the dispute process, and once the disputes clear see if there is a marked score change.  We don't know how the abuse algorithm works, presumably it matches names and addresses but we haven't ever had a real test case whereas it sounds like you / your wife might be as it is "supposed" to count for her.

 

I'd still recommend she gets a few tradelines of her own though, rumors floating around that FICO 9 doesn't count AU's again for example,




        
Message 4 of 6
Stryder
Regular Contributor

Re: Need help with DW scores

Awesome advise Revelate! I am sooo glad I caught this...she didnt want to spend the money on MyFico...so I was checking her on sesame...shows her score..updated 10/20 TU 698.

Beware those of you saving money on cheaper sites! you get what you pay for...Use MyFico or at least CCT.

EQ - 717 TU-724 EX -725>
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Thomas_Thumb
Senior Contributor

Re: Need help with DW scores

Credit Sesame and Credit Karma use VantageScore 3.0. Vantage Score, like the earlier Fico mortgage models, factors in AU cards without bias. Thus, no surprise that her CS VantageScore 3.0 was higher than Fico 08 but more in-line with Fico 04 mortgage.

 

There are many differences between Fico 08 and the earlier Fico mortgage algorithms and they often don't track together. So, it is critical to check mortgage scores if a lender you are planning to do business with uses those scores.

 

Good advice from Revelate regarding establishing a revolving credit card in her name. Recent credit scoring models really like to see an open, active revolving account. Longer term it might be best for her to have a couple CCs in her name. I do believe household income can be considered in a CC application. However, if DW has sufficient income, best to go it alone.

 

Below are links to a couple articles on AU vs joint accounts. My understanding is all credit scoring models recognize joint accounts but many may not recognize AU accounts. Unfortunately, there risks associated with joint accounts. So, individual accounts are generally a better way to go - particularly now that non working spousal applicants can list household income on CC applications in most cases.

 

https://www.creditsesame.com/blog/uncategorized/authorized-user-vs-joint-credit-card-better-way-to-b...

https://www.nerdwallet.com/blog/credit-cards/difference-between-authorized-users-and-joint-cardholde...

 

 

 

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
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