7 mos without new account, "Poor" --> "Fair"

[SouthJamaica]

When I looked at the FICO 8 "ingredients" user interface after pulling my new 3B report, it looked different. After awhile I realized it was because the constant red "Poor" had flipped to an orange "Fair" on "Amount of New Credit", and this had occurred across all 3 bureaus.

No doubt this was  because I had finally passed 6 months without opening a new account.

What makes it odd, though, is that my inquiries on all 3 bureaus are still fairly high: EX - 8, TU - 3, EQ - 4

[Anonymous]

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@SouthJamaica wrote:

When I looked at the FICO 8 "ingredients" user interface after pulling my new 3B report, it looked different. After awhile I realized it was because the constant red "Poor" had flipped to an orange "Fair" on "Amount of New Credit", and this had occurred across all 3 bureaus.

No doubt this was  because I had finally passed 6 months without opening a new account.

What makes it odd, though, is that my inquiries on all 3 bureaus are still fairly high: EX - 8, TU - 3, EQ - 4

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@SouthJamaica Congratulations ! I'd say due to the youngest account aging.

Congratulations on your restraint. Are you going for the big 12 month scorecard change? Test it for yourself?

[Anonymous]

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@SouthJamaica wrote:

No doubt this was  because I had finally passed 6 months without opening a new account.

What makes it odd, though, is that my inquiries on all 3 bureaus are still fairly high: EX - 8, TU - 3, EQ - 4

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At 11mos total credit history, no credit cards, just 1 open SSL on file, I had a Fair rating for 'Amount of New Credit'.

At 3mo total revolving history (AoYRA 3mo also) I went from Fair to Good (first 2 cards on file).

At 1yr 0mo (revolving) it changed from Good to Very Good.

At 1yr 2mo I opened 2 more cards - next report showed a change from Very Good to Good.

At 1yr 8mo (6mo AoYRA) it changed from Good to Very Good.

I've never had a POOR rating for 'Amount of New Credit' since I started credit monitoring at 11mo total credit history length.

Maybe yours is different due to number of inquiries. I've never had more than 2 scorable, and that's only at EX now because AMEX and Discover both used Experian.

[Anonymous]

SJ, were there any score changes associated with the fluff rating change you saw? 

[Anonymous]

The MF ingredients interface was created by the same analytics team that created the algorithm according to the experts, so that’s the one that apparently is not fluff if that’s correct.

BBS read the first pinned thread in UFS.

[Anonymous]

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@Anonymous wrote:
The MF ingredients interface was created by the same analytics team that created the algorithm according to the experts, so that’s the one that apparently is not fluff if that’s correct.

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And not just a random 'expert' either - it was the guy (Tommy Lee, Director of Analytics at FICO) who leads the analytics team that works on the score model code itself. lol

I've always seen score changes with these Ingredient rating changes. Especially with that POOR to FAIR change on Length of Credit History.

[SouthJamaica]

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@Anonymous wrote:

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@SouthJamaica wrote:

When I looked at the FICO 8 "ingredients" user interface after pulling my new 3B report, it looked different. After awhile I realized it was because the constant red "Poor" had flipped to an orange "Fair" on "Amount of New Credit", and this had occurred across all 3 bureaus.

No doubt this was  because I had finally passed 6 months without opening a new account.

What makes it odd, though, is that my inquiries on all 3 bureaus are still fairly high: EX - 8, TU - 3, EQ - 4

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@SouthJamaica Congratulations ! I'd say due to the youngest account aging.

Congratulations on your restraint. Are you going for the big 12 month scorecard change? Test it for yourself?

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I'm not really angling for that.  And I'm not really showing restraint. It's really the credit unions who are showing restraint about lending to me

But thanks for the good thought

[SouthJamaica]

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@Anonymous wrote:

SJ, were there any score changes associated with the fluff rating change you saw? 

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It's impossible for me to tell, because this type of change is only available to me once a month, and there has been so much going on in my profile and in my scores.

[Anonymous]

Well, if in fact the front end is not fluff from this source, it would mean that a "rating" change would equate to a score change if I'm understanding it correctly.

[Anonymous]

Maybe and maybe not but it would definitely mean a Factor that is tracked has changed. Could be in a buffer zone or maxxed on a scorecard or anything.