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I found out what part of your credit report Discover hits you hard on. For two years I was stuck on their FICO 801, 802, 800, 802 . . . then last month my Discover FICO shot up to 845! It so happened that my one and only inquiry fell off their report!
It irritated me that my Discover score hovered around 800-805 for two years yet my spending was less than 1%. Everything else was excellent. So why didn't rise above 805? The answer was inquiries!
@Loquat wrote:
Congrats on seeing the bump you've been waiting for. Fico scoring algorithms are anyone's guess as we never quite know what pleases the system.
My guess would be that said algorithms are tweaked so much based on what a lender is wanting in a customer from month to month, or even day to day.
But again, congrats on getting to 845 as I'm sure it wasn't easy and took a lot of time and hard work.
2011 Foreclosure. I qpplied for Discover in 2015 and had a small CLI of $1500. I used it religiously for balance transfers and I hit that Love Button every 6 months until I got to $45,000 CLI. My FICO score started out at 375 then rose over 5 years to today, 845.
Discover loves those who pay more than the minimum each month. I once ran up $2,000 in charges and paid that down $500 every pay day twice a month. When my CLI was increased to $20,000 I used it for business traveling expenses and racked up at least $2000 a month spend.
Today I am taking advantage of Discover's 0% for 18 months offer. I am going to use this card for my major purchases!
An inquiry wouldn't be costing you 45 points, and if it cost you any points in a first place, you'd gain them back after it reached a year.
That kind of gain is probably related to aginig.
@CA4Closure wrote:I found out what part of your credit report Discover hits you hard on. For two years I was stuck on their FICO 801, 802, 800, 802 . . . then last month my Discover FICO shot up to 845! It so happened that my one and only inquiry fell off their report!
A couple of points. First, "Discover" isn't hitting you hard on anything. They are just providing you with a Fico score, which if it's from your CC account is a TU Fico Score 8 (pictured below). An inquiry would not impact your score 40-45 points. If your score increased that amount, it was due to another factor or factors improving. When you say the inquiry fell off your report, do you mean it reached 2 years of age or that it reached 1 year of age and became unscorable? If the latter, did you open an account associated with that inquiry and did that account just hit 12 months of age? That profile change is often worth 20-25 points on a clean file.
You'd have to compare your before and after credit reports to see what exactly changed that may have resulted in that score boost. Discover unfortunately doesn't provide you with reports to go along with that monthly score/summary update.
@Anonymous wrote:
@CA4Closure wrote:I found out what part of your credit report Discover hits you hard on. For two years I was stuck on their FICO 801, 802, 800, 802 . . . then last month my Discover FICO shot up to 845! It so happened that my one and only inquiry fell off their report!
A couple of points. First, "Discover" isn't hitting you hard on anything. They are just providing you with a Fico score, which if it's from your CC account is a TU Fico Score 8 (pictured below). An inquiry would not impact your score 40-45 points. If your score increased that amount, it was due to another factor or factors improving. When you say the inquiry fell off your report, do you mean it reached 2 years of age or that it reached 1 year of age and became unscorable? If the latter, did you open an account associated with that inquiry and did that account just hit 12 months of age? That profile change is often worth 20-25 points on a clean file.
You'd have to compare your before and after credit reports to see what exactly changed that may have resulted in that score boost. Discover unfortunately doesn't provide you with reports to go along with that monthly score/summary update.
That inquiry was the only thing that dropped. My last credit card I applied for was over 2 years ago (Barclay's Hawaiian Airlines Mastercard Elite). My Costco (Citi) score is currently 861. Chase is my lowest 830.
Only thing I did was close my Capital One credit card (Platinum that had no rewards and a AF of $60). This card was 20 years old.
@CA4Closure wrote:
@Anonymous wrote:
@CA4Closure wrote:I found out what part of your credit report Discover hits you hard on. For two years I was stuck on their FICO 801, 802, 800, 802 . . . then last month my Discover FICO shot up to 845! It so happened that my one and only inquiry fell off their report!
A couple of points. First, "Discover" isn't hitting you hard on anything. They are just providing you with a Fico score, which if it's from your CC account is a TU Fico Score 8 (pictured below). An inquiry would not impact your score 40-45 points. If your score increased that amount, it was due to another factor or factors improving. When you say the inquiry fell off your report, do you mean it reached 2 years of age or that it reached 1 year of age and became unscorable? If the latter, did you open an account associated with that inquiry and did that account just hit 12 months of age? That profile change is often worth 20-25 points on a clean file.
You'd have to compare your before and after credit reports to see what exactly changed that may have resulted in that score boost. Discover unfortunately doesn't provide you with reports to go along with that monthly score/summary update.
That inquiry was the only thing that dropped. My last credit card I applied for was over 2 years ago (Barclay's Hawaiian Airlines Mastercard Elite). My Costco (Citi) score is currently 861. Chase is my lowest 830.
Only thing I did was close my Capital One credit card (Platinum that had no rewards and a AF of $60). This card was 20 years old.
Just closing the Cap1 Plat probably didn't have any effect on your score since it's still counting toward aging metrics. As said above, the inquiry falling off didn't cause this score gain as the gain from that 1) would have been much smaller and 2) occurred a year ago. Some things I can think of that could have contributed to a gain like yours would be paying down high revolving balances, crossing the lowest agg installment b:l threshold, and aging-related gains. But whether any of those apply here would depend on your particular profile and credit activities. If you're interested in trying to find out the actual cause of the gain, you can post your profile information from before and after and we can help you look it over for pertinent changes.
Also, just FYI, when you're comparing the scores that Disco, Citi, and Chase give you you're comparing different versions and models, which is kind of apples to oranges. Discover gives FICO TU8 and Chase gives EX VS3. Citi I'm not sure, but if the scores go above 850 it's either one of the FICO industry scores or an older Vantage.
@Slabenstein wrote:Also, just FYI, when you're comparing the scores that Disco, Citi, and Chase give you you're comparing different versions and models, which is kind of apples to oranges. Discover gives FICO TU8 and Chase gives EX VS3. Citi I'm not sure, but if the scores go above 850 it's either one of the FICO industry scores or an older Vantage.
Citi provides FICO Bankcard Score 8 from Equifax. The score range is 250-900 points.
@CA4Closure wrote:
My Costco (Citi) score is currently 861. Chase is my lowest 830.
Just understand that those lenders aren't providing you with "their" score. You mentioned that earlier that your "Discover Score" was something, then these above. Those lenders are simply providing you with a score from a specific scoring model, which can almost always be found on the screen somewhere near that provided score.
@Slabenstein wrote:
@CA4Closure wrote:
@Anonymous wrote:
@CA4Closure wrote:I found out what part of your credit report Discover hits you hard on. For two years I was stuck on their FICO 801, 802, 800, 802 . . . then last month my Discover FICO shot up to 845! It so happened that my one and only inquiry fell off their report!
A couple of points. First, "Discover" isn't hitting you hard on anything. They are just providing you with a Fico score, which if it's from your CC account is a TU Fico Score 8 (pictured below). An inquiry would not impact your score 40-45 points. If your score increased that amount, it was due to another factor or factors improving. When you say the inquiry fell off your report, do you mean it reached 2 years of age or that it reached 1 year of age and became unscorable? If the latter, did you open an account associated with that inquiry and did that account just hit 12 months of age? That profile change is often worth 20-25 points on a clean file.
You'd have to compare your before and after credit reports to see what exactly changed that may have resulted in that score boost. Discover unfortunately doesn't provide you with reports to go along with that monthly score/summary update.
That inquiry was the only thing that dropped. My last credit card I applied for was over 2 years ago (Barclay's Hawaiian Airlines Mastercard Elite). My Costco (Citi) score is currently 861. Chase is my lowest 830.
Only thing I did was close my Capital One credit card (Platinum that had no rewards and a AF of $60). This card was 20 years old.Just closing the Cap1 Plat probably didn't have any effect on your score since it's still counting toward aging metrics. As said above, the inquiry falling off didn't cause this score gain as the gain from that 1) would have been much smaller and 2) occurred a year ago. Some things I can think of that could have contributed to a gain like yours would be paying down high revolving balances, crossing the lowest agg installment b:l threshold, and aging-related gains. But whether any of those apply here would depend on your particular profile and credit activities. If you're interested in trying to find out the actual cause of the gain, you can post your profile information from before and after and we can help you look it over for pertinent changes.
Also, just FYI, when you're comparing the scores that Disco, Citi, and Chase give you you're comparing different versions and models, which is kind of apples to oranges. Discover gives FICO TU8 and Chase gives EX VS3. Citi I'm not sure, but if the scores go above 850 it's either one of the FICO industry scores or an older Vantage.
@Slabenstein wrote:
@CA4Closure wrote:
@Anonymous wrote:
@CA4Closure wrote:I found out what part of your credit report Discover hits you hard on. For two years I was stuck on their FICO 801, 802, 800, 802 . . . then last month my Discover FICO shot up to 845! It so happened that my one and only inquiry fell off their report!
A couple of points. First, "Discover" isn't hitting you hard on anything. They are just providing you with a Fico score, which if it's from your CC account is a TU Fico Score 8 (pictured below). An inquiry would not impact your score 40-45 points. If your score increased that amount, it was due to another factor or factors improving. When you say the inquiry fell off your report, do you mean it reached 2 years of age or that it reached 1 year of age and became unscorable? If the latter, did you open an account associated with that inquiry and did that account just hit 12 months of age? That profile change is often worth 20-25 points on a clean file.
You'd have to compare your before and after credit reports to see what exactly changed that may have resulted in that score boost. Discover unfortunately doesn't provide you with reports to go along with that monthly score/summary update.
That inquiry was the only thing that dropped. My last credit card I applied for was over 2 years ago (Barclay's Hawaiian Airlines Mastercard Elite). My Costco (Citi) score is currently 861. Chase is my lowest 830.
Only thing I did was close my Capital One credit card (Platinum that had no rewards and a AF of $60). This card was 20 years old.Just closing the Cap1 Plat probably didn't have any effect on your score since it's still counting toward aging metrics. As said above, the inquiry falling off didn't cause this score gain as the gain from that 1) would have been much smaller and 2) occurred a year ago. Some things I can think of that could have contributed to a gain like yours would be paying down high revolving balances, crossing the lowest agg installment b:l threshold, and aging-related gains. But whether any of those apply here would depend on your particular profile and credit activities. If you're interested in trying to find out the actual cause of the gain, you can post your profile information from before and after and we can help you look it over for pertinent changes.
Also, just FYI, when you're comparing the scores that Disco, Citi, and Chase give you you're comparing different versions and models, which is kind of apples to oranges. Discover gives FICO TU8 and Chase gives EX VS3. Citi I'm not sure, but if the scores go above 850 it's either one of the FICO industry scores or an older Vantage.
True! I noticed that over the years. I know the variances of these scores. Discover scores were historically always low with me. Citi Costco is always higher than Chase, Discover and NFCU. Now NFCU is my lowest FICO score at 826!