Good morning all. I'm certainly not complaining, but I'm a bit confused.
While gardening and preparing for a mortgage refinance, I've been working on getting to AZE0.
Got down to AZE3 with two more accounts actually paid off but haven't udated yet... accidently let a small balance report on a fourth card... Fico 8 went UP eight points.
That doesn't make any sense.
Clean file. Aged. No new accounts.
Is your profile aged enough to be beyond reach of further age gains? That's about the only thing that would jump out at me as a possibility.
An aging gain is possible, if the first of the month fell between the two pulls and you're below the maximum reward thresholds for aging metrics. Were there any reported balance changes on your three other non-zero revolvers between the AZE3 score pull and the AZE4 one? Did you see any reason code changes? Also, do you know whether AZE3->AZE4 is a threshold for accounts w/ a balance for your profile?
I can't think of many circumstances where moving from AZE3 to AZE4 would resultin a score increase.
The only one that jumps out at me would be if we're talking an AU card... like the AZE3 was made up of only your own accounts and you had an AU account with a $0 balance that reported a small balance... taking you from 0 AU cards with a balance to 1 AU card with a balance, thus moving you to AZE4 overall.
I can't remember if that could result in a score gain on F8 scores or mortgage scores. I'm thinking mortgage scores and not F8, which means it shouldn't apply to you. Others can weigh in on that though.
OP, do you have access to your mortgage scores? I know in your original post you referenced an upcoming refinance, but only spoke of F8 not mortgage scores.
I can confirm that AU accounts going from none reporting a balance to at least 1 reporting a balance does affect Fico 8. It has a 14-15 point affect for me and a similar amount for my DW.(on EX8... the others respond but not to that level).
Thats exactly it.
The three revolvers reporting are my own individual accounts. The fourth card is DWs account that I'm an AU on.
Fico 8 up eight points, no change on Fico 2.