Watching my 542 Mortgage, Auto, and Bankcard scores the last several months. Had a huge score jump this month as the very last negative fell off from EQ and TU. Here are the scores the last few months.
Mortgage (31 point jump EQ, 43 point TU). $95 paid charge off finally dropped off in October for EQ/TU. Charge off was not ever on EX. Trend down in EX May be new accounts or inquiries.
Aug - EQ 701 TU 712. EX 757
Sept - EQ 701 TU 703 EX 746
Oct - EQ 732, TU 746, EX 739
Auto 542 (EQ up 18, TU up 26).
Aug - EQ 708 TU 729 EX 752
Sept - EQ 708 TU 721 EX 742
Oct - EQ 726 TU 747 EX 735
Bankcard 542 (This score was weird for TU. EQ didn't move from Aug to Sep, then declined in Oct possibly due to new accounts in July, August, and October. TU dropped 33 in Sept, but then increased 93 points in October! EX trended down due to new accounts.
Aug - EQ 725 TU 685 EX 757
Sept - EQ 725 TU 652 EX 739
Oct - EQ 713 TU 745 EX 721
I have been watching the mortgage and other 542 scores monthly for a couple years. They don't move as much as others, and the slightest negative item can hold these scores down. That paid $95 negative was not even a factor for Fico 8/9, but would drag down the mortgage scores.
This was the highest mortgage 542 scores I've had in a long time. All 3 reports should now be on a clean scorecard. 3-1/2 years ago these scores were in the low 600s.
@Thomas_Thumb wrote:
@nwa479 wrote:Watching my 542 Mortgage, Auto, and Bankcard scores the last several months. Had a huge score jump this month as the very last negative fell off from EQ and TU. Here are the scores the last few months.
Mortgage (31 point jump EQ, 43 point TU). $95 paid charge off finally dropped off in October for EQ/TU. Charge off was not ever on EX. Trend down in EX May be new accounts or inquiries.
Aug - EQ 701 TU 712. EX 757Sept - EQ 701 TU 703 EX 746
Oct - EQ 732, TU 746, EX 739
Auto 542 (EQ up 18, TU up 26).
Aug - EQ 708 TU 729 EX 752
Sept - EQ 708 TU 721 EX 742
Oct - EQ 726 TU 747 EX 735
Bankcard 542 (This score was weird for TU. EQ didn't move from Aug to Sep, then declined in Oct possibly due to new accounts in July, August, and October. TU dropped 33 in Sept, but then increased 93 points in October! EX trended down due to new accounts.
Aug - EQ 725 TU 685 EX 757
Sept - EQ 725 TU 652 EX 739
Oct - EQ 713 TU 745 EX 721
I have been watching the mortgage and other 542 scores monthly for a couple years. They don't move as much as others, and the slightest negative item can hold these scores down. That paid $95 negative was not even a factor for Fico 8/9, but would drag down the mortgage scores.
This was the highest mortgage 542 scores I've had in a long time. All 3 reports should now be on a clean scorecard.
Thanks for the data points. A fully aged collection falling off is often worth 50 points on Classic Fico scores. In your case the collection would not have been hurting your Fico 8 scores because it was under $100 nor your Fico 9 scores because the collection was paid.
Side note: Fico 8 penalizes if collection is over $100 whether it is paid or unpaid. Fico 9 penalizes for unpaid collections regardless of the amount. Fico 5/4/2 penalize period.
Although Industry option scores often react more strongly than their Classic counterpart, changes in other factors must have helped boost score as well. How did your Auto Fico scores react?
I had learned all of the points about collections over/under $100, and impact on Fico8, 9, and 542 a few years ago when I was trying pay for delete. I was able to PFD on another one, but this one wouldn't budge. It did drop off a few months early as expected for EX. I was also surprised the EQ dropped a bit early. In July, I had a charge off drop three months early from EX. I requested TU drop it also through their dispute process. This was instantly approved. EX and TU had 50 to 55 point increases in Fico 8.
A couple others dropped off over the last couple of years - one medical when the rules changed and another that aged off.
The 542 Auto Scores are posted above. They had not dropped as much as the Bankcard scores, so this could explain the smaller increases of 18 EQ and 26 TU. The Bankcard scores may have dropped further due to new cards in May, July, August, and October. There is still a new Chase account with an 18k starting line yet to post. That Chase CSP card should bring my overall utilization below 18.9% so may be a good datapoint crossing that threshold. Hope to get utilization below 9% in the next few months.
On the auto, here's my Fico 8 and 9 scores for Sep and Oct. Slight increase in EQ and TU Fico 8. Fico 9 is slight increase in EQ, but decrease in TU. EX declined slightly with both. I have about 50k left on a truck loan purchased last November, so not sure I've crossed any thresholds yet on amount paid.
Fico 8 Auto
Sep - EQ 756 TU 775 EX 780
Oct - EQ 764 TU 783 EX 775
Fico 9 Auto
Sep - EQ 759 TU 753 EX 775
Oct - EQ 764 TU 747 EX 769
@nwa479 wrote:Watching my 542 Mortgage, Auto, and Bankcard scores the last several months. Had a huge score jump this month as the very last negative fell off from EQ and TU. Here are the scores the last few months.
Mortgage (31 point jump EQ, 43 point TU). $95 paid charge off finally dropped off in October for EQ/TU. Charge off was not ever on EX. Trend down in EX May be new accounts or inquiries.
Aug - EQ 701 TU 712. EX 757Sept - EQ 701 TU 703 EX 746
Oct - EQ 732, TU 746, EX 739
Auto 542 (EQ up 18, TU up 26).
Aug - EQ 708 TU 729 EX 752
Sept - EQ 708 TU 721 EX 742
Oct - EQ 726 TU 747 EX 735
Bankcard 542 (This score was weird for TU. EQ didn't move from Aug to Sep, then declined in Oct possibly due to new accounts in July, August, and October. TU dropped 33 in Sept, but then increased 93 points in October! EX trended down due to new accounts.
Aug - EQ 725 TU 685 EX 757
Sept - EQ 725 TU 652 EX 739
Oct - EQ 713 TU 745 EX 721
I have been watching the mortgage and other 542 scores monthly for a couple years. They don't move as much as others, and the slightest negative item can hold these scores down. That paid $95 negative was not even a factor for Fico 8/9, but would drag down the mortgage scores.
This was the highest mortgage 542 scores I've had in a long time. All 3 reports should now be on a clean scorecard. 3-1/2 years ago these scores were in the low 600s.
Congratulations on reaching that milestone.
Congrats on the gains and as mentioned by others always good to see datapoints!
