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EQ8...Contradictory much?

PullingMeSoftly
Established Contributor

EQ8...Contradictory much?

Received a nice update yesterday to my EQ8 (+12, now 849), however, the information provided in two different views appears contradictory. Help me out here:

 

Starting here: 

FICO 8 2021-05-01.jpg

 

I select Equifax from above, and see this:

EQ8 2021-05-01.jpg

 

Ok, so I understand "Accounts with balances", sure, but "Few accounts paid on time"?? What the heck is that?

 

However, when I pull down the little wheel from the home screen I get this, as expected for the score:

EQ8 2021-05-01.jpg

 

So if all accounts are always paid on time, what's the deal with "few accounts paid on time", is that just crap the algorithm spits out to come up with a reason for a 1-point deficit? 









17 REPLIES 17
Birdman7
Super Contributor

Re: EQ8...Contradictory much?

How many accounts do you have on your credit report? How many are open? How many have reported in the last month?
-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 18
Birdman7
Super Contributor

Re: EQ8...Contradictory much?

@PullingMeSoftly 

 

https://www.experian.com/blogs/ask-experian/the-meaning-of-too-few-accounts-paid-as-agreed/

 

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/As-I-start-AZEO-Bankcard-Score-8-gives-q...

-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 3 of 18
PullingMeSoftly
Established Contributor

Re: EQ8...Contradictory much?


@Birdman7 wrote:
How many accounts do you have on your credit report? How many are open? How many have reported in the last month?

Aside from a paid auto loan and a few closed card accounts in good standing, it looks like maybe my student loans may be the culprit. They are currently in administrative forbearance (for CARES Act + executive order extensions), so I guess they consider those weighted against my active card accounts as being "few accounts paid on time". The 1-point deficit irks me though! Cmon FICO really? Denied the 850 









Message 4 of 18
Birdman7
Super Contributor

Re: EQ8...Contradictory much?


@PullingMeSoftly wrote:

@Birdman7 wrote:
How many accounts do you have on your credit report? How many are open? How many have reported in the last month?

Aside from a paid auto loan and a few closed card accounts in good standing, it looks like maybe my student loans may be the culprit. They are currently in administrative forbearance (for CARES Act + executive order extensions), so I guess they consider those weighted against my active card accounts as being "few accounts paid on time". The 1-point deficit irks me though! Cmon FICO really? Denied the 850 


@PullingMeSoftly well depending on the age and depth of the profile, it likes to see a certain number of actively reporting accounts apparently. We've been trying to narrow down that number somewhere around 7. 

-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 5 of 18
PullingMeSoftly
Established Contributor

Re: EQ8...Contradictory much?


@Birdman7 wrote:

@PullingMeSoftly wrote:

@Birdman7 wrote:
How many accounts do you have on your credit report? How many are open? How many have reported in the last month?

Aside from a paid auto loan and a few closed card accounts in good standing, it looks like maybe my student loans may be the culprit. They are currently in administrative forbearance (for CARES Act + executive order extensions), so I guess they consider those weighted against my active card accounts as being "few accounts paid on time". The 1-point deficit irks me though! Cmon FICO really? Denied the 850 


@PullingMeSoftly well depending on the age and depth of the profile, it likes to see a certain number of actively reporting accounts apparently. We've been trying to narrow down that number somewhere around 7. 


Gotcha @Birdman7 , that makes the notation even more puzzling. I keep every card in my sig active with monthly use, let the balances report, and pay in full after every statement cut. So that's 18 cards being paid on time monthly, against a small handful of student loans in admin forbearance (but having always been paid on time before that).









Message 6 of 18
Birdman7
Super Contributor

Re: EQ8...Contradictory much?


@PullingMeSoftly wrote:

@Birdman7 wrote:

@PullingMeSoftly wrote:

@Birdman7 wrote:
How many accounts do you have on your credit report? How many are open? How many have reported in the last month?

Aside from a paid auto loan and a few closed card accounts in good standing, it looks like maybe my student loans may be the culprit. They are currently in administrative forbearance (for CARES Act + executive order extensions), so I guess they consider those weighted against my active card accounts as being "few accounts paid on time". The 1-point deficit irks me though! Cmon FICO really? Denied the 850 


@PullingMeSoftly well depending on the age and depth of the profile, it likes to see a certain number of actively reporting accounts apparently. We've been trying to narrow down that number somewhere around 7. 


Gotcha @Birdman7 , that makes the notation even more puzzling. I keep every card in my sig active with monthly use, let the balances report, and pay in full after every statement cut. So that's 18 cards being paid on time monthly, against a small handful of student loans in admin forbearance (but having always been paid on time before that).


@PullingMeSoftly then it's definitely not the minimum number and I assume your profile is not young, so it's not lack of history; it's the depth or variety of accounts currently reporting.


Are any loans currently reporting? If not, that's what it is, all of those are in forbearance and not actively reporting, so you don't have the variety of credit types actively reporting.

 

Doesn't look like it's harming your score much! This is one of those codes that we know less about than others. 

-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 7 of 18
Birdman7
Super Contributor

Re: EQ8...Contradictory much?

Yeah I didn’t even look at your signature before I wrote the earlier response to be honest. It’s definitely not the number and with that many accounts and at least 6 months payment history on all of them, it’s not the number or Length, it’s the diversity for sure.
-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 18
barca
Regular Contributor

Re: EQ8...Contradictory much?


@PullingMeSoftly wrote:

@Birdman7 wrote:
How many accounts do you have on your credit report? How many are open? How many have reported in the last month?

Aside from a paid auto loan and a few closed card accounts in good standing, it looks like maybe my student loans may be the culprit. They are currently in administrative forbearance (for CARES Act + executive order extensions), so I guess they consider those weighted against my active card accounts as being "few accounts paid on time". The 1-point deficit irks me though! Cmon FICO really? Denied the 850 


even though the student loan are in forbearance, they will still be reported as paid $0. 

This can not be the issue.

 

not getting the 850 could also be your utilization for the aggregrate loans.

 

your TU and EX are not close to 850, do they have different AAoA

Message 9 of 18
PullingMeSoftly
Established Contributor

Re: EQ8...Contradictory much?


@Birdman7 wrote:

@PullingMeSoftly wrote:

@Birdman7 wrote:

@PullingMeSoftly wrote:

@Birdman7 wrote:
How many accounts do you have on your credit report? How many are open? How many have reported in the last month?

Aside from a paid auto loan and a few closed card accounts in good standing, it looks like maybe my student loans may be the culprit. They are currently in administrative forbearance (for CARES Act + executive order extensions), so I guess they consider those weighted against my active card accounts as being "few accounts paid on time". The 1-point deficit irks me though! Cmon FICO really? Denied the 850 


@PullingMeSoftly well depending on the age and depth of the profile, it likes to see a certain number of actively reporting accounts apparently. We've been trying to narrow down that number somewhere around 7. 


Gotcha @Birdman7 , that makes the notation even more puzzling. I keep every card in my sig active with monthly use, let the balances report, and pay in full after every statement cut. So that's 18 cards being paid on time monthly, against a small handful of student loans in admin forbearance (but having always been paid on time before that).


@PullingMeSoftly then it's definitely not the minimum number and I assume your profile is not young, so it's not lack of history; it's the depth or variety of accounts currently reporting.


Are any loans currently reporting? If not, that's what it is, all of those are in forbearance and not actively reporting, so you don't have the variety of credit types actively reporting.

 

Doesn't look like it's harming your score much! This is one of those codes that we know less about than others. 


Thanks @Birdman7 that totally makes sense, I think you nailed it.  Beyond the student loans, there's only one paid off auto loan that'll be falling off in another year. So with the student loans in forbearance, you're right it's just cc's reporting. 









Message 10 of 18
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