CFA notation

[Anonymous]

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@AzCreditGuy wrote:

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@Anonymous wrote:

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@AzCreditGuy wrote:

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@Anonymous wrote:

@AzCreditGuy wrote:

The Sofi loaned is only a year and 8 months old, so I am getting dinged for new account as well. 

@AzCreditGuy you said you're getting dinged for the new account still? Can you give us your negative Reason and Codes for 5/4/2? I remember the new account reason code disappeared on 2 I think, if I remember correctly, but another thing I was thinking about in regard to your file is you said your oldest was around 6 years?

Is that a loan or a revolver? Because the age of oldest Revolver gives significant points and apparently some of those points are between 6 and 10 years. just thinking of reasons where points could be. but let us take a look at your negative Reason Codes on that if you don't mind and that might help us to figure it out more. (You may have to give us industry option codes if you're too high on classic obviously.)

thank you for your contributions by the way.

@Anonymous Yes my Cap 1 is 6yrs and 2 months old and Remember I dont access to TU or EQ, but I decided to get the Myfico 3 scores for total scores and I have to say I am very disappointed with my EQ score  and reasons.

Fico score 2 EX 807 

Neg reasons: Because your score is high, negative score factors present with your score are less actionable and are not provided.

Fico score 4 TU 797 

Neg reasons: You have a short credit history.
You have a consumer finance account on your credit report.
You have not established a long revolving and/or open-ended account credit history

Fico score 5 EQ 759

Neg reasons: You have a short credit history.
You have too many credit cards and/or open-ended accounts carrying balances.
The amount owed on your revolving and/or open-ended accounts is too high.
You have a consumer finance account on your credit report. 

I have 9 CCs on my EQ and 4 with balances, EQ seems the most affected as they show on EX and TU also

1. Citizens $886

2. Us bank $785

3. Chase (AU) $26 

4. Discover (AU) 66

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@AzCreditGuy you are the man! I totally forgot you didn't have access to the other two that's the reason we didn't know. But now we are very grateful you did pull that 3B and we now know the new account reason code is not showing on the other two mortgage Scores. When did you make the pull? this month? So that would make your AOYA 20 months? So 17-20 months may be the threshold across all mortgage Scores. It's explicit at TU, because you only have 3 reasons. 

For Version 2, you can check the bankcard and auto Negative Reason Codes, but I think we previously established the New account code was gone there.

well my prediction was correct, as your capital one ages and the average age of your revolvers increases, you will gain points. that's where some of the unaccounted for points are at at on TU4. 

as for EQ5, notice it didn't say too many credit accounts with a balance, it said too many credit cards with a balance. As I recall, EQ tracks that in addition to simple number of AWB (accounts with a balance). So you're probably getting dinged for number of AWB as well and it's at reason number 5.

but that's still a bigger variance than I would expect unless there are some differences in the data. Do you have any differences in data between EQ & TU?

@Anonymous Info was pulled today. 

EQ has 10 CCs showing 7 are my personal 3 are au and TU has 8 CCs showing 7 are my personal 1 is a au

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@AzCreditGuy are the extra two authorized user accounts carrying balances? What are their utilizations? That could be responsible for the variance giving extra AWB and potentially increased balances and utilization. 

[AzCreditGuy]

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@Anonymous wrote:

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@AzCreditGuy wrote:

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@Anonymous wrote:

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@AzCreditGuy wrote:

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@Anonymous wrote:

@AzCreditGuy wrote:

The Sofi loaned is only a year and 8 months old, so I am getting dinged for new account as well. 

@AzCreditGuy you said you're getting dinged for the new account still? Can you give us your negative Reason and Codes for 5/4/2? I remember the new account reason code disappeared on 2 I think, if I remember correctly, but another thing I was thinking about in regard to your file is you said your oldest was around 6 years?

Is that a loan or a revolver? Because the age of oldest Revolver gives significant points and apparently some of those points are between 6 and 10 years. just thinking of reasons where points could be. but let us take a look at your negative Reason Codes on that if you don't mind and that might help us to figure it out more. (You may have to give us industry option codes if you're too high on classic obviously.)

thank you for your contributions by the way.

@Anonymous Yes my Cap 1 is 6yrs and 2 months old and Remember I dont access to TU or EQ, but I decided to get the Myfico 3 scores for total scores and I have to say I am very disappointed with my EQ score  and reasons.

Fico score 2 EX 807 

Neg reasons: Because your score is high, negative score factors present with your score are less actionable and are not provided.

Fico score 4 TU 797 

Neg reasons: You have a short credit history.
You have a consumer finance account on your credit report.
You have not established a long revolving and/or open-ended account credit history

Fico score 5 EQ 759

Neg reasons: You have a short credit history.
You have too many credit cards and/or open-ended accounts carrying balances.
The amount owed on your revolving and/or open-ended accounts is too high.
You have a consumer finance account on your credit report. 

I have 9 CCs on my EQ and 4 with balances, EQ seems the most affected as they show on EX and TU also

1. Citizens $886

2. Us bank $785

3. Chase (AU) $26 

4. Discover (AU) 66

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@AzCreditGuy you are the man! I totally forgot you didn't have access to the other two that's the reason we didn't know. But now we are very grateful you did pull that 3B and we now know the new account reason code is not showing on the other two mortgage Scores. When did you make the pull? this month? So that would make your AOYA 20 months? So 17-20 months may be the threshold across all mortgage Scores. It's explicit at TU, because you only have 3 reasons. 

For Version 2, you can check the bankcard and auto Negative Reason Codes, but I think we previously established the New account code was gone there.

well my prediction was correct, as your capital one ages and the average age of your revolvers increases, you will gain points. that's where some of the unaccounted for points are at at on TU4. 

as for EQ5, notice it didn't say too many credit accounts with a balance, it said too many credit cards with a balance. As I recall, EQ tracks that in addition to simple number of AWB (accounts with a balance). So you're probably getting dinged for number of AWB as well and it's at reason number 5.

but that's still a bigger variance than I would expect unless there are some differences in the data. Do you have any differences in data between EQ & TU?

@Anonymous Info was pulled today. 

EQ has 10 CCs showing 7 are my personal 3 are au and TU has 8 CCs showing 7 are my personal 1 is a au

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@AzCreditGuy are the extra two authorized user accounts carrying balances? What are their utilizations? That could be responsible for the variance giving extra AWB and potentially increased balances and utilization. 

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1. Discover $66 balance out of $13,800 CL

2. Chase $26 balance out of $11,300 CL. 

Those are such small balances for reoccuring payments for dish and verizon bills

[sarge12]

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@Anonymous wrote:

Just a data point, I have 3 different American Honda Financial loans on my CR and none of them were coded as a CFA / I've never had a CFA related negative reason statement associated with my file.

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I had 1 CFA coded account by American Honda Financial, for 1 day, and it showed as a negative reason code on my mortgage scores for 10 years. How is that for a data point.    EDIT::: Hey, perhaps the fact that I faund a lower rate at my credit union the next day ticked off the loan officer at American Honda Financial, and coded it as a CFA out of spite!!! I am sure that was a lot of paperwork for nothing.

[Anonymous]

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@AzCreditGuy wrote:

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@Anonymous wrote:

---

@AzCreditGuy wrote:

---

@Anonymous wrote:

---

@AzCreditGuy wrote:

---

@Anonymous wrote:

@AzCreditGuy wrote:

The Sofi loaned is only a year and 8 months old, so I am getting dinged for new account as well. 

@AzCreditGuy you said you're getting dinged for the new account still? Can you give us your negative Reason and Codes for 5/4/2? I remember the new account reason code disappeared on 2 I think, if I remember correctly, but another thing I was thinking about in regard to your file is you said your oldest was around 6 years?

Is that a loan or a revolver? Because the age of oldest Revolver gives significant points and apparently some of those points are between 6 and 10 years. just thinking of reasons where points could be. but let us take a look at your negative Reason Codes on that if you don't mind and that might help us to figure it out more. (You may have to give us industry option codes if you're too high on classic obviously.)

thank you for your contributions by the way.

@Anonymous Yes my Cap 1 is 6yrs and 2 months old and Remember I dont access to TU or EQ, but I decided to get the Myfico 3 scores for total scores and I have to say I am very disappointed with my EQ score  and reasons.

Fico score 2 EX 807 

Neg reasons: Because your score is high, negative score factors present with your score are less actionable and are not provided.

Fico score 4 TU 797 

Neg reasons: You have a short credit history.
You have a consumer finance account on your credit report.
You have not established a long revolving and/or open-ended account credit history

Fico score 5 EQ 759

Neg reasons: You have a short credit history.
You have too many credit cards and/or open-ended accounts carrying balances.
The amount owed on your revolving and/or open-ended accounts is too high.
You have a consumer finance account on your credit report. 

I have 9 CCs on my EQ and 4 with balances, EQ seems the most affected as they show on EX and TU also

1. Citizens $886

2. Us bank $785

3. Chase (AU) $26 

4. Discover (AU) 66

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@AzCreditGuy you are the man! I totally forgot you didn't have access to the other two that's the reason we didn't know. But now we are very grateful you did pull that 3B and we now know the new account reason code is not showing on the other two mortgage Scores. When did you make the pull? this month? So that would make your AOYA 20 months? So 17-20 months may be the threshold across all mortgage Scores. It's explicit at TU, because you only have 3 reasons. 

For Version 2, you can check the bankcard and auto Negative Reason Codes, but I think we previously established the New account code was gone there.

well my prediction was correct, as your capital one ages and the average age of your revolvers increases, you will gain points. that's where some of the unaccounted for points are at at on TU4. 

as for EQ5, notice it didn't say too many credit accounts with a balance, it said too many credit cards with a balance. As I recall, EQ tracks that in addition to simple number of AWB (accounts with a balance). So you're probably getting dinged for number of AWB as well and it's at reason number 5.

but that's still a bigger variance than I would expect unless there are some differences in the data. Do you have any differences in data between EQ & TU?

@Anonymous Info was pulled today. 

EQ has 10 CCs showing 7 are my personal 3 are au and TU has 8 CCs showing 7 are my personal 1 is a au

---

---

@AzCreditGuy are the extra two authorized user accounts carrying balances? What are their utilizations? That could be responsible for the variance giving extra AWB and potentially increased balances and utilization. 

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1. Discover $66 balance out of $13,800 CL

2. Chase $26 balance out of $11,300 CL. 

Those are such small balances for reoccuring payments for dish and verizon bills

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@AzCreditGuy yes, I would be willing to bet that's what it is. EQ5 is super sensitive to number of AWB. Those extra two accounts would definitely increase the variance. 

[AzCreditGuy]

@Anonymous  Thanks for the insight on what's lowering my EQ 5 score. I will set up where 2 AU cards carry a $0 balance at the end of the month and recheck what happens with EQ5 in a month or 2. 

[Anonymous]

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@AzCreditGuy wrote:

@Anonymous  Thanks for the insight on what's lowering my EQ 5 score. I will set up where 2 AU cards carry a $0 balance at the end of the month and recheck what happens with EQ5 in a month or 2. 

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@AzCreditGuy anytime, I look forward to your results definitely ping me!

[AzCreditGuy]

@Anonymous  I just you had mentioned about Auto scores and how the new account code had dropped, it did on TU and EX but not on EQ? I was looking at the various scores and how some carry the CFA and some dont?? I find it interesting, why this is?

[Anonymous]

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@AzCreditGuy wrote:

@Anonymous  I just you had mentioned about Auto scores and how the new account code had dropped, it did on TU and EX but not on EQ? I was looking at the various scores and how some carry the CFA and some dont?? I find it interesting, why this is?

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@AzCreditGuy Wow, EQ has new account code at 20 months AoYA?!! Wow! Strange, TU should also have it then. 

ok. They only give you the 4 codes that are impacting your score the most. So you may not see CFA on the other bureau if it doesn't make the top 4.

[AzCreditGuy]

@Anonymous 

So I had a 8pt drop from 820 to 812 out of nowhere and the only thing that changed was lower balances 

March 22 

Overall Credit Usage
2%
Credit used
$1,637
Credit limit
$81,950

CC's used 

Citizen $786 out of $8k 

Discover (AU) $66 out of $11,300

Us Bank $785 out of $13,000

2 personal and 1 AU used 

Sofi Personal loan $32 out of $12,500 owed

March 25 

Overall Credit Usage
2%
Credit used
$1,588
Credit limit
$81,950

CC's used 

Citzen $786 out of $8k 

Discover $17 out of $6k 

2 personal CC's used 

Sofi Personal loan $32 out of $12,500 owed

**bleep**?? How did I lose 8 pts on Experian?

[Anonymous]

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@AzCreditGuy wrote:

@Anonymous 

So I had a 8pt drop from 820 to 812 out of nowhere and the only thing that changed was lower balances 

March 22 

Overall Credit Usage
2%
Credit used
$1,637
Credit limit
$81,950

CC's used 

Citizen $786 out of $8k 

Discover (AU) $66 out of $11,300

Us Bank $785 out of $13,000

2 personal and 1 AU used 

Sofi Personal loan $32 out of $12,500 owed

March 25 

Overall Credit Usage
2%
Credit used
$1,588
Credit limit
$81,950

CC's used 

Citzen $786 out of $8k 

Discover $17 out of $6k 

2 personal CC's used 

Sofi Personal loan $32 out of $12,500 owed

**bleep**?? How did I lose 8 pts on Experian?

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@AzCreditGuy at first glance if it's version 8, I would likely say its AU AZ loss because you do not have an authorized user card reporting a balance. Remember on 8/9 you have to have a personal and an AU report a balance, but for the mortgage Scores, just a personal.

Also wanted to mention other reasons CFA might not show up on a bureau. You could have an account on one bureau that's not on the others or that's missing on one, and that could be the responsible loan, or another reason may be if they go from a name list that's different by bureau.