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Rebuilding - FICO 5, 4, 2

housequest
Established Member

Rebuilding - FICO 5, 4, 2

I'm just curious, and wondering if anyone else has noticed that mortgage scores seem to be a) lower than their other FICO scores and b) they seem to recover/increase a little less dramatically?

 

I need to join "myfico anonymous", because I refresh my reports like...a LOT, and I see some nice bumps on my FICO 8 scores, the credit card scores, even FICO 9 (compared to where it was), but I can't seem to get my middle mortgage score into that 680 territory.

 

As a comparison:

FICO BankCard Score 8:

February 28, 2021: 596 | 595 | 574

May 12, 2021: 679 | 699 | 676

 

Mortgage FICO 5/4/2:

February 28, 2021: 572 | 599 | 545

May 12, 2021: 639 | 653 | 624

2/28/2021 FICO 8 Scores



2/28/2021 Mortgage Scores




5/12/2021 FICO 8 Scores



5/12/2021 Mortgage Scores


5 REPLIES 5
AllZero
Super Contributor

Re: Rebuilding - FICO 5, 4, 2


@housequest wrote:

I'm just curious, and wondering if anyone else has noticed that mortgage scores seem to be a) lower than their other FICO scores and b) they seem to recover/increase a little less dramatically?

 

I need to join "myfico anonymous", because I refresh my reports like...a LOT, and I see some nice bumps on my FICO 8 scores, the credit card scores, even FICO 9 (compared to where it was), but I can't seem to get my middle mortgage score into that 680 territory.

 

As a comparison:

FICO BankCard Score 8:

February 28, 2021: 596 | 595 | 574

May 12, 2021: 679 | 699 | 676

 

Mortgage FICO 5/4/2:

February 28, 2021: 572 | 599 | 545

May 12, 2021: 639 | 653 | 624


How are your reported individual and aggregate utilization ratio %?

 

Do you have any derogatory or delinquency suppressing your scores?

Message 2 of 6
housequest
Established Member

Re: Rebuilding - FICO 5, 4, 2

Overall, finally just got them down to 43%. One of them, however, is on a closed credit card and it is currently reported at 2221/2800 (79%). Just paid that down to 1700/2800, but not yet reported.

 

Here are my lines:

 

Closed:

Store card with closed credit limit: 570/1550

Citi (the closed account I talked about) 2221/2800

 

Open:

Credit one: 216/650

Capital One: 118/1150

Capital One: 66/850

Capital One: 0/300

 

No delinquent balances, collections, or public records 

 

 

2/28/2021 FICO 8 Scores



2/28/2021 Mortgage Scores




5/12/2021 FICO 8 Scores



5/12/2021 Mortgage Scores


Message 3 of 6
AllZero
Super Contributor

Re: Rebuilding - FICO 5, 4, 2


@housequest wrote:

Overall, finally just got them down to 43%. One of them, however, is on a closed credit card and it is currently reported at 2221/2800 (79%). Just paid that down to 1700/2800, but not yet reported.

 

Here are my lines:

 

Closed:

Store card with closed credit limit: 570/1550

Citi (the closed account I talked about) 2221/2800

 

Open:

Credit one: 216/650

Capital One: 118/1150

Capital One: 66/850

Capital One: 0/300

 

No delinquent balances, collections, or public records 


It is the high reported open and closed individual revolving account(s) utilization that is suppressing your scores. If you are trying to squeeze out every last point, optimal would be to initiate AZEO All Zero Except One card reporting a balance.e.g at least $10 but not to exceed $100 or 29% individual and 4.5 % aggregate utilization.

 

Once you can reduce your utilization, then you will be seeing score improvements.


Remember these aggregate utilization thresholds: 9%, 29%, 49%, 69%, 89%
Remember these individual utilization thresholds: 29%, 49%, 69%, 89%

 

I would recommend reading the below from ABCD2199
The Truth about Credit Card Utilization
My 11 Rules to Credit Rebuilding
FICO Score: What to pay down first?

Message 4 of 6
housequest
Established Member

Re: Rebuilding - FICO 5, 4, 2

Thank you! This is good news. I'll have 1400 of the two closed cards paid off by June 18.  

:-) 

2/28/2021 FICO 8 Scores



2/28/2021 Mortgage Scores




5/12/2021 FICO 8 Scores



5/12/2021 Mortgage Scores


Message 5 of 6
AllZero
Super Contributor

Re: Rebuilding - FICO 5, 4, 2


@housequest wrote:

Thank you! This is good news. I'll have 1400 of the two closed cards paid off by June 18.  

:-) 


That's great. Please report back with your score improvements. Hopefully, that will put you at your target MMS.

Message 6 of 6
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