Clean score cards s*ck

[Caught750]

Wow clean score cards are silly.  I could totally do without the new account penalties.  I could get away with so much more when I was dirty, no penalty was nice.  New accounts either didn't hurt me or were a point or two.  Inquiries more often than not did nothing.  Now it's a totally different game!  If I didn't value my lenders I'd take a 30 late just for the old score card 🤣

[Anonymous]

I imagine that in 9 out of 10 cases, a clean scorecard with new account penalties will result in better Fico scores than a dirty scorecard without them.  But, scores aside, upon a manual review there aren't many instances where a clean file would be viewed as "worse" than a dirty one with all other things being equal.

[Anonymous]

@Caught750 sorry...i don't feel your pain! I'm still dirty until next year 😊. Anyway, just by being on this forum, I'm definitely trying to get my cards lined up now and hopefully not have any <1yr cards once I'm clean. We'll see...because I'm just reading you should have 5 cards and I'm not quite there.

[Anonymous]

Besides, you’d have to take a 60 to get to a dirty!

[Anonymous]

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@Anonymous wrote:
Besides, you’d have to take a 60 to get to a dirty!

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True, or a pair of 30's if that's still true on 8.

[Anonymous]

From my understanding that doesn’t do the trick.

[Caught750]

Well of course the file looks, and is, better lol!  I just preferred the old no penalties card!

In reality it's as much the new mortgage reporting and new installment loans, all with 99% balances.

[Anonymous]

Yeah it’s a different ballgame in a clean card that’s true, but it’s good that you are aware of the differences!

[Anonymous]

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@Caught750 wrote:

Well of course the file looks, and is, better lol!  I just preferred the old no penalties card!

In reality it's as much the new mortgage reporting and new installment loans, all with 99% balances.

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@Caught750 No, not really. Score 8 doesn't really penalize you for having an installment loan, it just rewards you heavily when you have the aggregate 9% or under and then it claws it back when you pay off the loan(s).

[Caught750]

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@Anonymous wrote:

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@Caught750 wrote:

Well of course the file looks, and is, better lol!  I just preferred the old no penalties card!

In reality it's as much the new mortgage reporting and new installment loans, all with 99% balances.

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@Caught750 No, not really. Score 8 doesn't really penalize you for having an installment loan, it just rewards you heavily when you have the aggregate 9% or under and then it claws it back when you pay off the loan(s).

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My scores tanked as two installments (paid below 50%) were reported paid off and new ones at 100% were opened.  No other changes reported at the time.  Just those.  To the tune of 25 points or so.

Lost another 10 or so when the mortgage reported.