Credit Scoring Primer, pub.5.17.20

[Anonymous]

Mortgage Scorecard flowchart added, thanks to @Anonymous !

iv created extensions to reveal the reason codes:

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Reason-code-statement-concordance-chart/m-p/6331723#M187632

[sjt]

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@Anonymous wrote:

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@sjt wrote:
Thanks for your input. This is indeed strange. I'm wondering if I will see a bump next month and if I will get a score drop when it's paid off.

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@sjt that's a good question and it may depend on whether you were given those points overtime or even via utilization, or whether in fact you are tapped out on buffer from that category.

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 Off the top of my head, Im estimating that I received 10-15 points from this auto loan over the course of the loan term. Most of those points were gained in the first two years of the loan. 

[Anonymous]

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@sjt wrote:

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@Anonymous wrote:

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@sjt wrote:
Thanks for your input. This is indeed strange. I'm wondering if I will see a bump next month and if I will get a score drop when it's paid off.

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@sjt that's a good question and it may depend on whether you were given those points overtime or even via utilization, or whether in fact you are tapped out on buffer from that category.

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 Off the top of my head, Im estimating that I received 10-15 points from this auto loan over the course of the loan term. Most of those points were gained in the first two years of the loan. 

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@sjt did you cross 65% in that two years? If so that sounds about right. I think it would also add more support to @Slabenstein 's idea about my theory of the buffers by category.

[sjt]

@Anonymous 65% utilization, yes. 65% paid, no.

[Anonymous]

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@sjt wrote:
@Anonymous65% utilization, yes. 65% paid, no.

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@sjt that's what I was referring to, did you get any points there?

[sjt]

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@Anonymous wrote:

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@sjt wrote:
@Anonymous65% utilization, yes. 65% paid, no.

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@sjt that's what I was referring to, did you get any points there?

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Yes.

[Anonymous]

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@sjt wrote:

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@Anonymous wrote:

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@sjt wrote:
@Anonymous65% utilization, yes. 65% paid, no.

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@sjt that's what I was referring to, did you get any points there?

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Yes.

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@sjt I agree with @Slabenstein's position that it fits with my theory of category specific buffers. I think you're maxed out on the amounts owed category. We shall see when it closes how many points you lose. 

[sjt]

Thanks, @Anonymous I'm tempted to pay it off early to see what happens.

[ccquest]

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@ccquest wrote:

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@ccquest wrote:

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@Anonymous wrote:

@ccquest as memory serves, I believe each payment was 2% so it could've been 87% or 88%, so maybe you can resolve which one it is for us when you pass it? 

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I was fully planning on tracking it closely, but decided to check my SL refi rates again and looking like I can get down to 3.07% from 3.93% and I'm probably going to jump on that unless I can get another company to get me even lower...either way going to get the student loan back to 100% haha.

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Soooo, I'm definitely not going to be able to get the impact for each %. 

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Since it took awhile to process everything and it stayed reporting a little longer while my car payment posted...At 85.4% I gained 7 points on Experian FICO 8 (789 -> 796) compared to before when it was right above 85.5%.