@FireMedic1 wrote:If you want to play the util game. Here you go:
89%, 69%, 49%, 29%, 9% are the moments. Or just go below 8.9% and grab the points now. Then pay $1 a month. Your choice.
Hey @FireMedic1 I was wondering if you have a source for these installment utilization thresholds, or if it's from your personal experience? You've mentioned them before, and these are different from the Primer. Just wondering if there's another source where people have tried this and got results other than the Primer? Thresholds for installment utilization seem to vary by scorecard just like we know revolving does too. Always interested to see others results and experiences.
I have copied and patsed this for yrs here. With the many threads on loan util this is what many well experienced posters have come up with.
Here's a mega thread for your reading pleasure. Of course dirty files dont move as much as clean. Like fingerprints. No one will ever match with thier files. Its a combination of many who came/come together to figure out how FICO ticks. Enjoy the 36 pages. Of course YMMV.
@FireMedic1 wrote:If you want to play the util game. Here you go:
89%, 69%, 49%, 29%, 9% are the moments. Or just go below 8.9% and grab the points now. Then pay $1 a month. Your choice.
Gosh darn it! Once I saw your post, FireMedic1, I knew that I had seen this before. Passive Memory kicked in and I was all, "Dude, looks like SoonerSoldier33 and I are trying to re-invent the wheel here! LOL"!
I think that I am going to play the "Let's see how this wheel spins for me" game with this and collect some data points. More for my own "knowledge" and "experience" (since I am lacking in both here....). I will gladly share with others.
Thanks for the reminder, FireMedic1.
Starting Score: Exp 627
@SoonerSoldier33 wrote:Yea, I think that's awesome. The 88% threshold is debated a bit, and may be based on scorecard. Since you're on a dirty scorecard, it'll be great to know if you see a bump oing from 100% to below 88% with that first payment. If you don't we can assume that threshold isn't valid for a dirty scorecard. Then you have 4 payments in there that cross a range of percentages where there aren't any 'known' thresholds, so it'll be interesting to see if you get points at another threshold. Thanks for going along with this. The data points help!
For those of you who are new to this game known as "FICO Scoring" there is something called a credit profile. There are clean profiles and there are dirty profiles. Certain Data Points are used for segmenting your unique credit profile into either a clean or a dirty profile and certain Data Points are used for scoring (giving points, taking away points). That is what @SoonerSoldier33 is referencing with the 'dirty scorecard' comment. Additionally, there are eight different clean profiles and there are four dirty profiles.
My "scorecard" is dirty because of the Charge-Off.
I talked to the guy who wrote the Primer, and he said he included the 3 thresholds he did for installment utilization, bc he had confirmed data points for those specific thresholds at publication time for the Primer. Since, others have been 'discovered'. So, now it makes more sense to me as to where the thresholds @FireMedic1 is referencing here came from, and that thread is crammed full of info and data points. Good stuff! I still think it'll be cool to see where you receive score increases. I'm on a dirty scorecard too...D2...probably same as you. Recent derogatory, but no collection or BK. It's good to see the data points, bc it's clear that the utilization thresholds are confirmed to be different between the scorecards, and no one has nailed this down yet. For instance, there is definitely a 5% revolving utilization threshold for score loss for some scorecards. I can confirm there isn't on mine. This is why there's so much debate about where the 'sweet spot' for AZEO is. It's not the same for everyone bc of scorecards. For some, like me, it's anything under 9% aggregate revolving utilization. For someone else, there's point loss at 5%, so their 'sweet spot' is under 5%.Gosh darn it! Once I saw your post, FireMedic1, I knew that I had seen this before. Passive Memory kicked in and I was all, "Dude, looks like SoonerSoldier33 and I are trying to re-invent the wheel here! LOL"!
I think that I am going to play the "Let's see how this wheel spins for me" game with this and collect some data points. More for my own "knowledge" and "experience" (since I am lacking in both here....). I will gladly share with others.
Thanks for the reminder, FireMedic1.
So, there are lots of sources saying exactly what the thresholds for both revolving and installment utilization are, but they're often incomplete or just inaccurate altogether. They often don't factor in scorecards and other variances. The only way to find out exactly what threshold offers score loss/increase is to have people on different scorecards isolate a utilization change on their own reports, and report what they see.
@SoonerSoldier33 wrote:I talked to the guy who wrote the Primer, and he said he included the 3 thresholds he did for installment utilization, bc he had confirmed data points for those specific thresholds at publication time for the Primer. Since, others have been 'discovered'. So, now it makes more sense to me as to where the thresholds @FireMedic1 is referencing here came from, and that thread is crammed full of info and data points. Good stuff! I still think it'll be cool to see where you receive score increases. I'm on a dirty scorecard too...D2...probably same as you. Recent derogatory, but no collection or BK. It's good to see the data points, bc it's clear that the utilization thresholds are confirmed to be different between the scorecards, and no one has nailed this down yet. For instance, there is definitely a 5% revolving utilization threshold for score loss for some scorecards. I can confirm there isn't on mine. This is why there's so much debate about where the 'sweet spot' for AZEO is. It's not the same for everyone bc of scorecards. For some, like me, it's anything under 9% aggregate revolving utilization. For someone else, there's point loss at 5%, so their 'sweet spot' is under 5%.Gosh darn it! Once I saw your post, FireMedic1, I knew that I had seen this before. Passive Memory kicked in and I was all, "Dude, looks like SoonerSoldier33 and I are trying to re-invent the wheel here! LOL"!
I think that I am going to play the "Let's see how this wheel spins for me" game with this and collect some data points. More for my own "knowledge" and "experience" (since I am lacking in both here....). I will gladly share with others.
Thanks for the reminder, FireMedic1.
So, there are lots of sources saying exactly what the thresholds for both revolving and installment utilization are, but they're often incomplete or just inaccurate altogether. They often don't factor in scorecards and other variances. The only way to find out exactly what threshold offers score loss/increase is to have people on different scorecards isolate a utilization change on their own reports, and report what they see.
I am all for it! Let's do it. In fact, tell me what you think about this: we can follow my initial "payment schedule" (the one with 35.57 payments) as that will give us an even better idea. Totally your call on this. I am game. And will gladly follow your lead (well, you know what I mean).
The reasoning behind my change of heart (with respect to amount paid each month) is with the lower payment we will, naturally, see more Data Points.
Sure, I would love those 30-ish points back. But I will get them....I would rather - to be honest - play with this and add some data points for all to see and compare (with their details).
As things stand right now, we are making the "double payment" (aka, 71.14 or so). If more "data points" is a really good thing, then I will gladly make the "normal" monthly payment of $35.57.
And, no worries about my DtI. I have *LITERALLY* no debt (well, now I have this $525 loan! LOL). So, no consideration needs to be taken on that account.
I am all for it! Let's do it. In fact, tell me what you think about this: we can follow my initial "payment schedule" (the one with 35.57 payments) as that will give us an even better idea. Totally your call on this. I am game. And will gladly follow your lead (well, you know what I mean).
The reasoning behind my change of heart (with respect to amount paid each month) is with the lower payment we will, naturally, see more Data Points.
Sure, I would love those 30-ish points back. But I will get them....I would rather - to be honest - play with this and add some data points for all to see and compare (with their details).
As things stand right now, we are making the "double payment" (aka, 71.14 or so). If more "data points" is a really good thing, then I will gladly make the "normal" monthly payment of $35.57.
And, no worries about my DtI. I have *LITERALLY* no debt (well, now I have this $525 loan! LOL). So, no consideration needs to be taken on that account.
If you're willing, and there are no negative effects to your personal finances (other than miniscule interest charges, LOL), I'm all for it. Just record and post any score changes you might see as the balance lowers. I'm about to replace my nearly paid off debt consolidation loan with a new auto loan (bye bye low installment utilization points), and will be tracking my own installment utilization on a dirty scorecard when I get it. The more the merrier.
@SoonerSoldier33 wrote:If you're willing, and there are no negative effects to your personal finances (other than miniscule interest charges, LOL), I'm all for it. Just record and post any score changes you might see as the balance lowers. I'm about to replace my nearly paid off debt consolidation loan with a new auto loan (bye bye low installment utilization points), and will be tracking my own installment utilization on a dirty scorecard when I get it. The more the merrier.
@SoonerSoldier33
Well, here is something to consider....I am looking more deeply into segmentation | scoring factors (so, general concept stuff....not specific to an installment loan) and found this post:
Installment Loan Utilization
It looks like the % that we were using are specific to revolvers and ***NOT*** to installment loans? It looks, furthermore, that the % of interest (see how I did that....installment loan...interest...HA! HA!) are 65% and 10%. I am referencing Message 5 of 7 from the above linked post. Now, it is one year old (the above linked post).
Are you suggesting - as you did in one of the posts in this thread right here (if I might make an assumption....I never do well with assumptions so I tend to hesitate from making them) - that the 65% and 10% markers were known at the time that the primer was published but that others (the ones that @FireMedic1 posted and we did our rows/columns with) have been determined since? I just want to make sure that I am not seeing a one-year old post and - because of who made the post - acting on that.