@taxi818 wrote:
@Anonymous wrote:
@Revelate wrote:Well, why does FICO viewing them differently, suggest that it's different for credit mix purposes?
FICO views a PR differently than a Revolver, but the PR doesn't count for credit mix. I would suggest the same is for utilities which is closer comparison, and yes, for charge cards too. I don't think we're going to ever know some things about the algorithm, but what was quoted (and there may have been more, I haven't read the base article) simply isn't proof. That's all I'm getting at, be careful on subscribing "truth" to any statement made by even FICO representatives... things published in the myFICO app were flat out wrong, and were later removed as a result after the issue was raised.
So if I get an Amex PRG and my credit mix changes to "Exceptional", will that be proof? Not exactly. It will be like everything else here... anecdotal evidence.
With 3 open and 2 closed major bank cards, 1 open and 2 closed auto, 2 open and 4 closed mortgages, I am able to get a "Very Good" Credit Mix on all 3 bureaus as portrayed by myFICO.
By asking those to post a screen shot with "Exceptional" rating I was hoping there would be more details for us to ferret it out.
Maybe one day, we will get some more people to post their credit mix as represented by myFICO and it can be compiled.
I won't volunteer TT to compile it, but he sure does a nice job aggregating data :smileywink:
Anyone posting screen shots of their "Credit Mix" rating and details would provide great information.
I did post the CRedit mix as you asked to show it was saying exceptional. Which is kinda strange to say the least. It was showing very good before until i added my Amex Green.
then it went exceptional. So thats why i defined that as a charge card. Green, Prg, Plat, those particular npsl cards. which on the report it goes into a catagory of its own. . Im sure there are many other Npsl cards. i just don't know what they are. and look about from the screen shot you will see it does say exceptional.and as stated not sure why. I have 21 credit cards. (revolvers)3 personal loans and 1 auto loan and 1 charge card on my report for a total of 26 accounts. maybe the number of accounts has something to do with it as well as stated by Thomas_ Thumb
Its not npsl cards, its cards that are real charge cards. Unfortunately other than Amex Charge cards that have annual fees, there just arent many real charge cards. IE, cards that report as type Open on a credit report. The sinclair gas card *might* be such a card, but I'm not sure if it reports to your credit reports without usage, and i'm not 100% sure it reports as Open.
If anyone knows of charge cards that report as Open and have no annual fee, that might be useful to know.
@Anonymous wrote:
@Revelate wrote:Well, why does FICO viewing them differently, suggest that it's different for credit mix purposes?
FICO views a PR differently than a Revolver, but the PR doesn't count for credit mix. I would suggest the same is for utilities which is closer comparison, and yes, for charge cards too. I don't think we're going to ever know some things about the algorithm, but what was quoted (and there may have been more, I haven't read the base article) simply isn't proof. That's all I'm getting at, be careful on subscribing "truth" to any statement made by even FICO representatives... things published in the myFICO app were flat out wrong, and were later removed as a result after the issue was raised.
So if I get an Amex PRG and my credit mix changes to "Exceptional", will that be proof? Not exactly. It will be like everything else here... anecdotal evidence.
With 3 open and 2 closed major bank cards, 1 open and 2 closed auto, 2 open and 4 closed mortgages, I am able to get a "Very Good" Credit Mix on all 3 bureaus as portrayed by myFICO.
By asking those to post a screen shot with "Exceptional" rating I was hoping there would be more details for us to ferret it out.
Maybe one day, we will get some more people to post their credit mix as represented by myFICO and it can be compiled.
I won't volunteer TT to compile it, but he sure does a nice job aggregating data :smileywink:
Anyone posting screen shots of their "Credit Mix" rating and details would provide great information.
No, remember FICO Consumer presentation is not a source of truth. Outside of the score and reason codes, it's frankly no better in terms of diagnosing the algorithm than Credit Karma. I understand why this point is hard to accept, but it is simple fact.
Honestly chasing "Exceptional" in any third party presentation is rather futile because it has absolutely zero bearing on the algorithm. If you're interested in the MF product suite fine, but it does not serve any purpose beyond that and should absolutely not be used as knowledge for people seeking to build their credit. It is simply not based on the algorithm in any shape form nor fashion.
Pulled the 3B report to check accounts status and category ratings. Another account an old Cap One BB charge card [opened 2005, closed 2008] is no longer reporting. This dropped total # accounts on CB reports as follows. EQ 11 => 10, TU 10 => 9, EX 11 => 10.
All category ratings the same for all 3 CBs. Mix rates as very good. (image capture example from EX)
Lost 8 points on all TU Fico 4 scores. Perhaps account QTY dropping below 10 was the cause.
Still suspect count is king for credit mix. Gotta have the count regardless of account variety for the top category rating.
| Equifax credit report | 12/3/2015 | 7/28/2015 |
| Fico score 8 | 850 | 850 |
| Fico score 5 | 809 | 809 |
| Fico score 8 Auto | 884 | 884 |
| Fico score 5 Auto | 827 | 827 |
| Fico score 8 Bankcard | 886 | 886 |
| Fico score 5 Bankcard | 826 | 825 |
| VantageScore 3.0 | 831 | 829 |
| * VS from 3B TU report | ||
| - AAoA 16 yr, 5 mo | ||
| TransUnion credit report | 12/3/2015 | 7/28/2015 |
| Fico score 8 | 850 | 850 |
| Fico score 4 | 815 | 823 |
| Fico score 8 Auto | 897 | 897 |
| Fico score 4 Auto | 864 | 872 |
| Fico score 8 Bankcard | 900 | 900 |
| Fico score 4 Bankcard | 850 | 858 |
| VantageScore 3.0 | 832 | 830 |
| * VS from 3B TU report | ||
| - AAoA 14 yr, 9 mo | ||
| TransUnion credit report | 12/3/2015 | 7/28/2015 |
| Fico score 8 | 850 | 850 |
| Fico score 2 | 837 | 837 |
| Fico score 8 Auto | 884 | 889 |
| Fico score 2 Auto | 857 | 857 |
| Fico score 8 Bankcard | 900 | 898 |
| Fico score 2 Bankcard | 865 | 868 |
| Fico score 3 | 830 | 830 |
| VantageScore 3.0 | 833 | 832 |
* VS from 3B TU report 10/28/2015
- AAoA 16 yr, 5 mo
CCs reporting a balance went down to 2 of 6 from 3 of 6. Ag UT went from 2% to 1%. AAoA actually went up 1 to 2 years due to 10 year old account dropping off.
