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EQ5 New account threshold found at 18 months

Birdman7
Super Contributor

EQ5 New account threshold found at 18 months

EQ5 - New account threshold found at 18 months.

 

Conflated with 84 months AAoA & 36 months average age of loan accounts, went from a new account scorecard to a no-new Account Scorecard. 

EQ5 804>751. You would've thought I would've went the other way right? I lost 53 points. 

Classic

New Account Scorecard: none

 

classic

No New Account Scorecard:  

1. Too many CCs/RoE AWB

2. Installment balance

3. RoE Balance

4. Revolving utilization 

5AU 820>773 lost 47

 

AU

New Account Scorecard: 

1. New Account 

2. RoE balance

3. credit account Balances (corrected)

4. Too many credit AWB

 

AU

No New Account Scorecard: 

1. Too many CC/RoE AWB
2. Installment balance

3. new Account 

4. RoE Balance

 

5BC 786>737 lost 49

 

BC New Account Scorecard:

1. Short installment history 

2. New Account 

3. Too many CC/RoE AWB

4.RoE Balance

 

BC

No New Account Scorecard:

1. Too many CC/RoE AWB
2. Short installment history 

3. Installment balance

4. Too few/many RoE accounts 

 

edited and updated. 

-Community’s scoring wisdom: Scoring Primer.
-New: MORTGAGE SECTION.
-Negative Reason Codes: CassieCard’s Score Factors.
-Calculate metrics with ccquest’s Workbook.

Clean/Thick/Mature/No New Revolver - 8,9; Clean/Thick/Mature/No New Account - 5/4/2.
Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.





(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
11 REPLIES 11
Birdman7
Super Contributor

Re: EQ5 New account threshold found at 18 months

I’ll come back and give a reason codes later.
-Community’s scoring wisdom: Scoring Primer.
-New: MORTGAGE SECTION.
-Negative Reason Codes: CassieCard’s Score Factors.
-Calculate metrics with ccquest’s Workbook.

Clean/Thick/Mature/No New Revolver - 8,9; Clean/Thick/Mature/No New Account - 5/4/2.
Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.





(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 2 of 12
M_Smart007
Epic Contributor

Re: EQ5 New account threshold found at 18 months

Yikes @Birdman7 ,

Punished for no new accts. I do not think I will encounter thatSmiley Tongue

53 points, ouch. Thanks for the DP's as always. Sorry for your lossSmiley Sad

 

Message 3 of 12
Revelate
Moderator Emeritus

Re: EQ5 New account threshold found at 18 months

Weird, I'll be really looking forward to reason codes.  

 

No longer being on the new accounts scorecard, I sort of wonder where you're at now.  No lates / CFAs / inquiries and squeaky clean on utilization I assume?




        
Message 4 of 12
SouthJamaica
Super Contributor

Re: EQ5 New account threshold found at 18 months


@Birdman7 wrote:

EQ5 - New account threshold found at 18 months.

 

Conflated with 84 months AAoA & 36 months average age of loan accounts, went from a new account scorecard to a no-new Account Scorecard. 

EQ5 804>751. You would've thought I would've went the other way right? I lost 53 points. 

5AU 820>773 lost 47

5BC 786>737 lost 49

 

@Revelate @CassieCard @Thomas_Thumb @AllZero @Slabenstein @M_Smart007 @LaHossBoss @thornback 


Something's fishy. Give it time to settle out.


Total revolving limits 653000 (575000 reporting) FICO 8: EQ 721 TU 747 EX 715

Message 5 of 12
Birdman7
Super Contributor

Re: EQ5 New account threshold found at 18 months

Well guys I've actually been running tests on number of AWB (finding EX2 # of AWB Thresholds) and so I've let a little individual Utilization post and a little bit of revolving Balances post, but I know the number of AWB has my numbers way down on EQ5, no doubt. As soon as that's is corrected, they will shoot right back up.....


but that gives us an interesting opportunity to learn. It seems a new account scorecard is more tolerant of the number of AWB on EQ5. Otherwise why would the score be higher on the new accounts Scorecard? and appears TU4 maybe the same way. 

I promise I'm gonna try to get my updated scoreboard soon. Life has just really been hectic lately fellas, so y'all will have to forgive me for being preoccupied recently, but I've been patiently waiting for this dp. 


@M_Smart007 yeah I don't think I'm being punished, it's just that different metrics are weighted differently on different cards and, apparently, EQ5 gives more play for number of AWB in a new account scorecard? Unless someone else has some thoughts until I can get to the Reason Codes. Obviously then we may all have more thoughts.

-Community’s scoring wisdom: Scoring Primer.
-New: MORTGAGE SECTION.
-Negative Reason Codes: CassieCard’s Score Factors.
-Calculate metrics with ccquest’s Workbook.

Clean/Thick/Mature/No New Revolver - 8,9; Clean/Thick/Mature/No New Account - 5/4/2.
Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.





(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 6 of 12
Blue_Collar
Regular Contributor

Re: EQ5 New account threshold found at 18 months

EQ5 guillotine!   Hate that for you but sure you retrieve those points.   Thanks for DPs

Message 7 of 12
Birdman7
Super Contributor

Re: EQ5 New account threshold found at 18 months

Reason Codes added
-Community’s scoring wisdom: Scoring Primer.
-New: MORTGAGE SECTION.
-Negative Reason Codes: CassieCard’s Score Factors.
-Calculate metrics with ccquest’s Workbook.

Clean/Thick/Mature/No New Revolver - 8,9; Clean/Thick/Mature/No New Account - 5/4/2.
Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.





(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 8 of 12
Birdman7
Super Contributor

Re: EQ5 New account threshold found at 18 months

Sorry I left off one set of reason Codes they’re there now
-Community’s scoring wisdom: Scoring Primer.
-New: MORTGAGE SECTION.
-Negative Reason Codes: CassieCard’s Score Factors.
-Calculate metrics with ccquest’s Workbook.

Clean/Thick/Mature/No New Revolver - 8,9; Clean/Thick/Mature/No New Account - 5/4/2.
Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.





(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 9 of 12
Revelate
Moderator Emeritus

Re: EQ5 New account threshold found at 18 months

NIce analysis as usual Birdman.

 

I'm marking six months from basically today (AOD was 5/6/20) before I get to 18 months and other than maybe a mortgage (maybe) I just don't see applying for anything while I clean up my life in Raleigh. 




        
Message 10 of 12
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