Achieving 850 CS

[Anonymous]

Hey ABCD, Revelate.  I don't think it has to be an either-or.  I.e. either FICO looks at solely at percentage of accounts that are new (and disregards Age of Youngest Account) or such percentages do not matter at all.

My guess is that it is a both-and.  If you open a new account, that affects one relevant scoring factor: age of youngest account.  This would happen whether a person had three accounts or thirty.  It would also affect a different scoring factor, which would be the percentage factor that ABCD suggests might exist.  (If one had a lot of accounts, the ratio might easily not cross a relevant breakpoint).

Such a "both-and" approach is how LN does it -- no reason a priori that FICO could not do the same.  The link I gave earlier indeed suggests that this is what FICO does.

[Thomas_Thumb]

I was thinking of something like the following. Of course there could be more count break points. The below would also differ depending on scorecard (clean vs dirty)

IF New accounts EQUAL 1 THEN

 - IF new account(s)/total accounts LE X%:  Deduction = 0 points

 - ELSE IF ratio new account(s)/total accounts GT X% AND LT Y%:  Deduction = 5 points

 - ELSE: Deduction = 10 points

IF New accounts GT 1 THEN

 - IF new account(s)/total accounts LE X%:  Deduction = 5 points

 - ELSE IF ratio new account(s)/total accounts GT X% AND LT Y%: Deduction = 10 points

 - ELSE: Deduction = 15 points

[marty56]

I lost around 10 points for a new CC account reporting but that included the INQ and a pre-approval for a auto loan so it was a good trade.  I probably could get there next year but I don't want to play the FICO score game that much.

[Anonymous]

---

wrote:

I was thinking of something like the following. Of course there could be more count break points. The below would also differ depending on scorecard (clean vs dirty)

IF New accounts EQUAL 1 THEN

 - IF new account(s)/total accounts LE X%:  Deduction = 0 points

 - ELSE IF ratio new account(s)/total accounts GT X% AND LT Y%:  Deduction = 5 points

 - ELSE: Deduction = 10 points

IF New accounts GT 1 THEN

 - IF new account(s)/total accounts LE X%:  Deduction = 5 points

 - ELSE IF ratio new account(s)/total accounts GT X% AND LT Y%: Deduction = 10 points

 - ELSE: Deduction = 15 points

---

This makes sense to me!  I'm gardening now but interested in seeing if I can actually see when my AOYA penalty reduces or goes away but it's still too recent to know.  FICO simulators are useless but because my CCT and MyFICO age history is so different to each others, their simulators both seem to simulate aging slightly differently in their output numbers, so that's curious.

For example:

.	CCT EX	MyFICO EX	Notes
January	710	710	.
1m	710	710	.
2m	710	710	.
3m	725	725	3/17 inquiry ages, 3/17 new account ages
4m	735	735	4/17 inquiry ages, 4/17 new account ages
5m	740	740	5/17 3 inquiries age, 5/17 5 new accounts age
6m	740	740	1 inquiry ages
7m	755	755	.
8m	755	755	8/17 inquiry ages, 8/17 new account ages
9m	765	760	.
10m	790	780	10/17 new account ages
11m	790	780	11/17 inquiry ages, 11/17 new account ages
12m	790	780	.

I know simulators don't mean jack, but it's interesting to see slight differences. No obvious connection to inquiries or aging as expected but my math/memory might be off today.