As I start moving towards less balances on cards ( small balances) and just paying them off before every statement close so they show $0, I am suprised to receive a Bank Card 8 negative code "Few accounts paid on time" unsure why I am even getting this? I only see this negative code on Bank Card 8. I was under the impression if you dont show a balance but have a balance and pay it full everystatement, you have payment history still with the cards? I swear the closer I get to being out of debt, the more it seems I am being punished.
@AzCreditGuy wrote:As I start moving towards less balances on cards ( small balances) and just paying them off before every statement close so they show $0, I am suprised to receive a Bank Card 8 negative code "Few accounts paid on time" unsure why I am even getting this? I only see this negative code on Bank Card 8. I was under the impression if you dont show a balance but have a balance and pay it full everystatement, you have payment history still with the cards? I swear the closer I get to being out of debt, the more it seems I am being punished.
The code "accounts paid as agreed" refers to the number of accounts i.e. a thin file, not that you are not making payments.
I received a 14 point jump in my EX 8 score this month and the only thing that I can identify to this is due to the "Few accounts paid on time" negative code dropping off. I've done some research on my profile, and I think I've stumbled across something that we are unsure about and lack DP's (couldn't find it in the Primer either). I'll eventually post my findings, but I'm wondering if you might be experiencing something similar.
Can you provide some DP for analysis/comparison:
- How many open accounts do you have? Only count open revolvers and open loans. Do not include AU accounts in this number.
- Have you opened any new accounts in the past 6 months? If so, how recently?
For my profile, it seems like the "Few accounts paid on time" is affected by how many "qualified" accounts are reporting. It looks like a "qualified" account is an OPEN revolver or OPEN loan that is 3 months old or older. No AU account is considered as a "qualified" account. No closed accounts are counted as "qualified", surprisingly.
Below is the expanded negative code showing I only have 5 accounts being counted even though I have 1 additional AU account and several closed loans on my EX report. That last sentence stating "High Achievers having an average of 6 accounts" is a big hint at their threshold, IMO.
Can you post a screenshot of your negative code or tell us the # of accounts it is reporting on that code?
ETA: Just noticed you did have a screenshot, but it doesn't show the # of accounts...
@Duke_Nukem wrote:I received a 14 point jump in my EX 8 score this month and the only thing that I can identify to this is due to the "Few accounts paid on time" negative code dropping off. I've done some research on my profile, and I think I've stumbled across something that we are unsure about and lack DP's (couldn't find it in the Primer either). I'll eventually post my findings, but I'm wondering if you might be experiencing something similar.
Can you provide some DP for analysis/comparison:
- How many open accounts do you have? Only count open revolvers and open loans. Do not include AU accounts in this number.
- Have you opened any new accounts in the past 6 months? If so, how recently?
For my profile, it seems like the "Few accounts paid on time" is affected by how many "qualified" accounts are reporting. It looks like a "qualified" account is an OPEN revolver or OPEN loan that is 3 months old or older. No AU account is considered as a "qualified" account. No closed accounts are counted as "qualified", surprisingly.
Below is the expanded negative code showing I only have 5 accounts being counted even though I have 1 additional AU account and several closed loans on my EX report. That last sentence stating "High Achievers having an average of 6 accounts" is a big hint at their threshold, IMO.
Can you post a screenshot of your negative code or tell us the # of accounts it is reporting on that code?
ETA: Just noticed you did have a screenshot, but it doesn't show the # of accounts...
I find the notation that I am a thin file ridiculous, as I have 1 CC that is 6 years+, 6 CCs that are 1 year 9 months, 1 personal loan that is 1 year 9months and these accounts are actively being used. @Anonymous stated I have a thick file a while back
Looked at myFico scores from 03/15/21 and it seems to have dropped down from 859 and the only thing that has happened, continue paying off debt which is at 2% overall
@AzCreditGuy wrote:
@Duke_Nukem wrote:I received a 14 point jump in my EX 8 score this month and the only thing that I can identify to this is due to the "Few accounts paid on time" negative code dropping off. I've done some research on my profile, and I think I've stumbled across something that we are unsure about and lack DP's (couldn't find it in the Primer either). I'll eventually post my findings, but I'm wondering if you might be experiencing something similar.
Can you provide some DP for analysis/comparison:
- How many open accounts do you have? Only count open revolvers and open loans. Do not include AU accounts in this number.
- Have you opened any new accounts in the past 6 months? If so, how recently?
For my profile, it seems like the "Few accounts paid on time" is affected by how many "qualified" accounts are reporting. It looks like a "qualified" account is an OPEN revolver or OPEN loan that is 3 months old or older. No AU account is considered as a "qualified" account. No closed accounts are counted as "qualified", surprisingly.
Below is the expanded negative code showing I only have 5 accounts being counted even though I have 1 additional AU account and several closed loans on my EX report. That last sentence stating "High Achievers having an average of 6 accounts" is a big hint at their threshold, IMO.
Can you post a screenshot of your negative code or tell us the # of accounts it is reporting on that code?
ETA: Just noticed you did have a screenshot, but it doesn't show the # of accounts...
I find the notation that I am a thin file ridiculous, as I have 1 CC that is 6 years+, 6 CCs that are 1 year 9 months, 1 personal loan that is 1 year 9months and these accounts are actively being used. @Anonymous stated I have a thick file a while back
Did he say that about the industry specific models or just the classic? Most people who track their scores don't report changes to the industry specific models so data is scarce about them and what is weighted differently.
@Duke_Nukem wrote:I received a 14 point jump in my EX 8 score this month and the only thing that I can identify to this is due to the "Few accounts paid on time" negative code dropping off. I've done some research on my profile, and I think I've stumbled across something that we are unsure about and lack DP's (couldn't find it in the Primer either). I'll eventually post my findings, but I'm wondering if you might be experiencing something similar.
Can you provide some DP for analysis/comparison:
- How many open accounts do you have? Only count open revolvers and open loans. Do not include AU accounts in this number.
- Have you opened any new accounts in the past 6 months? If so, how recently?
For my profile, it seems like the "Few accounts paid on time" is affected by how many "qualified" accounts are reporting. It looks like a "qualified" account is an OPEN revolver or OPEN loan that is 3 months old or older. No AU account is considered as a "qualified" account. No closed accounts are counted as "qualified", surprisingly.
Below is the expanded negative code showing I only have 5 accounts being counted even though I have 1 additional AU account and several closed loans on my EX report. That last sentence stating "High Achievers having an average of 6 accounts" is a big hint at their threshold, IMO.
Can you post a screenshot of your negative code or tell us the # of accounts it is reporting on that code?
ETA: Just noticed you did have a screenshot, but it doesn't show the # of accounts...
@Duke_Nukem Interesting....Need to go back to a thread with me @Thomas_Thumb and BBS...We discussed this, but I can't remember if we addressed impact of open/closed. Very interesting tho!