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EQ5 # of accts w/ bal AND # of CCs w/ a bal negative reason codes

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Established Contributor

Re: EQ5 # of accts w/ bal AND # of CCs w/ a bal negative reason codes


@Birdman7 wrote:
Are we unsure accounts subsumes CCs? As I've said, I plan a SSL, so that may help. But if I sit on my hands, 1 of those codes will go away soon I think, new account.

Wonder if we can find anyone with the revolver counts TT said to test his theory? @CassieCard can test 1/3!!!!

All I have on my file is a closed SSL and 2 open credit cards.

 

  • I have never seen 'Too many accounts with balances' on TU 4. I have always had both cards reporting the exact same utilization since February. So always 2/2 revolving accounts with balances.
  • EQ 5 and EX 2 have always had 'Too many accounts with balances', even with only 1 card reporting a balance in January. Full report here with reason code text on all 28 FICO scores.
27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

New CRADIS contacts, bearing 1 carom 9. Just think of EQ, TU, and EX as Cylon Basestars.

Message 11 of 30
Valued Contributor

Re: EQ5 # of accts w/ bal AND # of CCs w/ a bal negative reason codes

I’m sorry I meant 1/2, So with one out of two cards reporting a balance (50%) you did in fact have the two many accounts with the balance reason code. TT?

@CassieCard Have you seen the two many credit cards with the balance reason code?







Installment loan reported this month,so technically, I'm at 2 months, but AoYA points were NOT reset. When new CCs hit and it is reset, I'll put the number it is.+1,+2,+2(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated AUG 4, '19. Since then, 5 HP dings to add; will update again.
Message 12 of 30
Established Contributor

Re: EQ5 # of accts w/ bal AND # of CCs w/ a bal negative reason codes


@Birdman7 wrote:
I’m sorry I meant 1/2, So with one out of two cards reporting a balance (50%) you did in fact have the two many accounts with the balance reason code. TT?

@CassieCard Have you seen the two many credit cards with the balance reason code?

You mean this one? "You have too many credit cards and/or open-ended accounts carrying balances."

 

I have never seen that on any score. Only the "Too many credit accounts with balances."

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

New CRADIS contacts, bearing 1 carom 9. Just think of EQ, TU, and EX as Cylon Basestars.

Message 13 of 30
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Moderator Emeritus

Re: EQ5 # of accts w/ bal AND # of CCs w/ a bal negative reason codes

Unfortunately the reason code language is a bit different between the various CMS’s.

That may be part of what’s being run into here.

Actually that might be a worthwhile project: translation between CMS services for reason codes cause I know even myFICO is a little loose with it, or perhaps the differences are at the bureau level and myFICO just did the translation to make them consistent which would make some sense.

The reason codes for TU monitoring don’t match the ones given in TU reports from myFICO for example which was where I first noticed it and also Experian CW doesn’t match myFICO either.

I will say though it was pretty easy to translate between them when comparing reports but some small difference in the text of accounts with balances might be causing confusion, or worse maybe the bureaus are different.

Will say this analysis is kind of hard without materially changing account numbers to re-check; I know concretely the behavior I saw on my public record + delinquency scorecard for FICO 8 but that doesn’t appear to match others and FICO 5 I am useless for testing currently.

TU FICO 4 I think I can nail down with a bit of testing and then adding an installment loan (like the possible mortgage refinance or reindeer games testing with Penfed)



        
Message 14 of 30
Valued Contributor

Re: EQ5 # of accts w/ bal AND # of CCs w/ a bal negative reason codes

Well said. That would be a worthwhile project as well. It’s kind a hard to figure things out unless we figure out a common language we know there’s correlation we’ve just got to translate like you said.

However that’s not the case here. Both Cassie and I both have MF and Experian credit works, Therefore there is a reason Cassie is not seeing the reason code when both of her cards post a balance. Maybe because she’s on a thin scorecard?







Installment loan reported this month,so technically, I'm at 2 months, but AoYA points were NOT reset. When new CCs hit and it is reset, I'll put the number it is.+1,+2,+2(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated AUG 4, '19. Since then, 5 HP dings to add; will update again.
Message 15 of 30
Moderator Emeritus

Re: EQ5 # of accts w/ bal AND # of CCs w/ a bal negative reason codes

Entirely possible.

Different scorecards have different reason codes: that’s explicitly known between derogatory and clean scorecards (AOYA metrics however they explicitly are defined as one example): there’s literally no reason that the reason codes have to exist in all top 8 scorecards either.

And sadly I never had really thought that way previously TBH, good call.



        
Message 16 of 30
Valued Contributor

Re: EQ5 # of accts w/ bal AND # of CCs w/ a bal negative reason codes

Rev if you guide me I can do EQ5 and others. I told you I plan a SSL, so that will switch up numbers and I plan to add a card maybe two.

For what it’s worth I think it’s different between bureaus and as you said the different CMSs may change it as well. And I can only report what happens, then I have to theorize around that data and seek knowledge from you and others.







Installment loan reported this month,so technically, I'm at 2 months, but AoYA points were NOT reset. When new CCs hit and it is reset, I'll put the number it is.+1,+2,+2(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated AUG 4, '19. Since then, 5 HP dings to add; will update again.
Message 17 of 30
Valued Contributor

Re: EQ5 # of accts w/ bal AND # of CCs w/ a bal negative reason codes

Yeah I don’t think it exists on a thin scorecard (too many cards with a balance). So if it only applies to thick scorecards, I think that would give more weight to it being percentage based as opposed to a number because it would be covering a larger potential range of numbers. Do you agree?

I’m also in a new account scorecard. Since that means elevated risk,I wonder if that reason code could be linked to that scorecard only or if it’s tied to the thickness or some other variation?







Installment loan reported this month,so technically, I'm at 2 months, but AoYA points were NOT reset. When new CCs hit and it is reset, I'll put the number it is.+1,+2,+2(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated AUG 4, '19. Since then, 5 HP dings to add; will update again.
Message 18 of 30
Established Contributor

Re: EQ5 # of accts w/ bal AND # of CCs w/ a bal negative reason codes

Birdman7, you said you had these reasons from your myFICO 3B:

You opened a new credit account relatively recently.

You've recently been looking for credit.

You have too many credit cards and/or open-ended accounts carrying balances.

You have too many credit accounts with balances.

We're comparing apples to apples here, because on every monthly report I have posted so far I used the reasons from myFICO. I had to abbreviate them for the table format, but not enough to change their true meaning.

 

You have 2 different reason codes for balances, whereas I have only ever seen the 'You have too many credit accounts with balances.'

I shortened that to 'Too many accounts with balances' on my table reports.

 

For EX 2 on CreditWorks, it just says 'Accounts with balances', with the explanation:

You have too many credit accounts with balances.

 

The FICO® Score considers the number of accounts on a credit report showing a balance.

 

Generally speaking, carrying fewer accounts with balances is considered less risky.

 

Your credit report may show a balance on credit cards even if they're paid in full each month. The total balance of the last statement is typically the amount shown on a credit report.

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

New CRADIS contacts, bearing 1 carom 9. Just think of EQ, TU, and EX as Cylon Basestars.

Message 19 of 30
Valued Contributor

Re: EQ5 # of accts w/ bal AND # of CCs w/ a bal negative reason codes

Absolutely correct CassieCard. It’s my theory that it’s not on thin scorecards. I don’t know whether it’s only on thick scorecards or only on thick/new account scorecards or maybe something totally different.







Installment loan reported this month,so technically, I'm at 2 months, but AoYA points were NOT reset. When new CCs hit and it is reset, I'll put the number it is.+1,+2,+2(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated AUG 4, '19. Since then, 5 HP dings to add; will update again.
Message 20 of 30
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