AZEO FICO8 Drop?

[Anonymous]

My guess is you don’t have a balance on the AU account so it triggered the NO Revolving AU balance penalty, if it’s counting for version 8. Like TT said, it’s still going to count for EX2. Either that or you only have a balances on an AU account. Either will cause a penalty on version 8.

Don't worry, the mortgage scores are not affected.

There’s a 20% line on EQ2, so I believe there are more points to be had if you can go down to one revolver with a balance.

[Anonymous]

@Anonymous Don’t worry, the no revolving AU balance penalty doesn’t apply to mortgage scores.

And, so what if version 8 drops temporarily, you are after mortgage scores.

I wanna address something: there are thresholds <33% for # of revolvers/accounts with a balance. So, yes it can get better.

Search a recent thread by @calyx where it was questioned how low the threshold went and what it was worth. I think the title was something like is it worth it?

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Update-FICO2-experiment-is-it-worth-it/td-p/5756516/page/8

[Anonymous]

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@Anonymous wrote:

And, so what if version 8 drops temporarily, you are after mortgage scores.

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True.  This was more of a "I want to understand how this all works" more than a concern directed toward my mortgage scores.  

[SouthJamaica]

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@Anonymous wrote:

Hi, I had a small balance on two cards, paid one to $0 and my FICO8 dropped 15 points.  I'm more concerned with my mortgage scores, which I'll get right before I apply, but I'm wondering why my FICO8 dropped.  Here are the details:

I have 9 cards, no loans

No collections 

Total line of credit: $41k

Citi card: $130/$4000

Chase card: $0/$16,700 

The Chase card was at just under $100 before I paid it down.  The next day, my EX FICO8 dropped 15 points.  It's as if EX views the Citi account as $0 and my score dropped for having all $0s.  But I clearly see the $130 still on my report (plus I know I haven't paid it).  

There was literally no other change in any other account.  Any thoughts as to what happened would be appreciated. 

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Nothing in what you describe would have caused the point drop. It's something else.

So what you need to do is go over the report from the day of the drop and the report from the day before the drop, and compare.

[Anonymous]

@Anonymous Do you have any AU accounts? Were either of these two cards AUs?

I misread your earlier post, you went to 1/9 reporting, so you should’ve gotten a bump on EX2. Weird. Do you know what scorecard you’re in?

[Anonymous]

I don't know what scorecard I'm in.  I don't have any collections, though (I did, but it was removed...prior to this move).  

As for AUs, I have one, but the two cards were not AUs.  I definitely went from more than one card reporting to one card reporting (i.e., AZEO) and the card was not AU or store card or credit union.  It's a Citi Double Cash card.  And my EX2 didn't move a single point (and still hasn't since then).  So even if we disregard the FICO 08 drop, I'm curious as to why there was no AZEO bump on EX2.  

[Anonymous]

Let me ask you a question. How did you check your EX2 score after the Citibank reported to zero?

You are aware they don’t automatically update with alerts they only update when you pull a 3B?

Edit: Or do you have an Experian account with daily access?

[Anonymous]

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@Anonymous wrote:
Let me ask you a question. How did you check your EX2 score after the Citibank reported to zero?

You are aware they don’t automatically update with alerts they only update when you pull a 3B?

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No, I did not know that.  However, unless they're updated at weird times, it didn't move when I did this:

Day 1: Got Experian's trial that includes EX2.  It showed 734.  Credit report at this time was not AZEO on Experian's site but was by Day 2 morning.  Maybe score was updated before report?  

Day 2 (early afternoon): Mortgage company pulled credit for pre-approval letter; still showed 734, but was AZEO.  

[Anonymous]

As for your scorecard, do you have any sort of derogatories? How many open and closed accounts do you have on your CRs? What’s the age of your oldest account and what’s the age of your youngest revolver? Do you have any open or closed loans on your reports?

[Anonymous]

I’m pretty sure I know the reason for the 8 drop. When all your AU accounts go to zero it gives you no revolving penalty just like when all your primaries do.

My understanding of the way the Experian interface works is this. Whenever you login, it gives you your pull for the day. They may update their files throughout the day and information may change, but you won’t see it until the next morning at 3 AM EST because you’ve already done your pull for the day.

And I’ll tell you what, the last week or so Experian has been a little slow for me than usual.

Maybe your theory is correct. maybe they updated the score due to receiving the information but they had not yet populated it to your display file.

I don’t know I find it a little crazy. We have a definite confirmed line under 25% on EX2 for number of revolvers with a balance. I thought I saw a line at 15% and 20% but I think the line is just at 20% based on recent information.

But there are also situations where certain thresholds are only on certain scorecards. So it could be possible depending on scorecard.

But if you have 9 cards going from 2 of 9 to 1 of 9 put you under the 20% line, so I would’ve expected a sizable increase.