Credit Scoring

[Anonymous]

I am a credit analyst and had heard that there were  a certain number of points associated with the type of account and the severity of the delinquency. Can someone verify if there is a hierarchy? For example a 30 day mortgage late may drop a score 70 points, versus a 30 day late on a revolving account may change score by 40 pts

[haulingthescoreup]

Hi, welcome to the forums!

The points loss varies by the score you start from, and by your credit profile, aka scorecard or score bucket.

For instance, when I was at 651 and a shiny new 30-day late posted, it dropped me 50 points, just like that.

But a late is a late, and the type of account that it's on shouldn't affect the score loss. Certainly might startle a prospective lender, though.

[RobertEG]

I agree with hauling.  The affect varies due to many factors.  FICO is a risk analysis, and if a consumer has what is referred to a "thin" creidt file (not much credit history to evaluate),they are scored much differently on the impact of delinquencies that one who has many trade lines, and years of credit history to evaluate.

These are scoring "buckets" and there are sub-buckets within buckets, so it varies. No set number of points that apply across the board for any category.   There is no doubt that having a major delinquency (60+ late, CO, CA, etc) is a major hit within any given bucket, but may impact varies based on overall credit history risk factors.

It is not a zero sum game.

What the major categories for scoring are arent even published anywhere, let alone the sub-categories and the corresponding impact of each in generation of a score.