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Change in FICO Algorithm with the New Year?

Moderator Emeritus

Re: Change in FICO Algorithm with the New Year?

why wrote:
I have never used this site before now, why is it that this site does not have the answer as to whether a new FICO scoring system has gone into effect or not, & what about the new scoring system can cause an unchanged CR to drop so drastically in FICOS, when no changes have occured to cause the drop??

Welcome to the FICO forums!
Rest assured that the new FICO scoring algorithm has not gone into effect just yet, and is not expected for at least a few more months.

why wrote:
By the way I came into this site via, is this still that?

Yes, these forums are a part of

why wrote:
Also what is a thread, & what is AU??

A thread is a list of posts on a particular topic.  The thread you are reading, for example, is called "Change in FICO Algorithm with the New Year?"
AU = Authorized User.  Someone who is authorized to use someone else's credit card account and has a card with their own name on it, but is not the primary cardholder and is not legally responsible for the debt incurred on the account.
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. Smiley Surprised )
Message 21 of 22
Established Member

Re: Change in FICO Algorithm with the New Year?

Thank you, I think you solved my mystery!  My score dropped with no reason given recently by 17 pts.  I compared two credit reports account by account.  The only difference was that I reduced my debt by $200. 

After reading the above comments, I rechecked the two reports and noticed that on the first report, the average age of my acccounts was 10 years, and it showed as helping my score.  On the subsequent report my credit age is not mentioned at all.  I did not open or close any accounts. 

I did have one mortgage inquiry during the period between the two reports, but the original inquiry was before the first report and less than 20 days from the original mortgage inquiry, so that shouldn't have an effect.

Could I have entered a new bucket, where my average account age is now below the others' in my new bucket, causing it not to be displayed as a positive on my PowerScore report (therefore I can't see it)?  Possibly I moved to 11 years or 10.x years.  If this is the problem, I like my old bucket better and would like to go back!!

How long does it take to recover from jumping to a new bucket? 


Message 22 of 22