EX ticked to 850 - 3 possible reasons why:

[Anonymous]

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@Thomas_Thumb

Curious what you revolving account AoOA and installment loan AoOA are by CRA. Do you have any differences in open loan ages among the CRAs? Any differences in aggregate installment loan B/L ratio?

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Revolver AoOA for a closed revolver is my AoOA; roughly 17.5 years.  That's a closed revolver, though and my oldest open revolver is only 3.5 years.  The only open loan I have is my mortgage, about 10 years old (the same on all 3B) and my current balance/original balance are equal across all 3 as well.

[Thomas_Thumb]

Well, I wouldn't rule out the installment loan passing some AAoA or AoOA threshold as a possibility. My recollection is the CRAs might differentiate in their treatment of installment loans regarding an aging attribute. See below paste from Credco booklet regarding installment loans and open installment loans (codes 25 & 36).

https://www.credco.com/assets/pdfs/datasheets/FICO-booklet.pdf

In your case AAoA = AoOA for open installment loans - correct? Do you have closed installment loans on file? If so, what is the oldest and what is your aggregate installment AAoA (open + closed)

[Revelate]

FICO 8 and FICO 9 appear to have breakpoints for both revolving and the aforementioned installment history ones in the reason codes.  The revolving ones:

• You have not established a long revolving and/or open-ended account credit history. (MF massaged reason code)

• Length of time revolving accounts have been established. (from TU)

I have absolutely no idea how much it factors or what breakpoints, but it exists in both the Classic and Enhanced scores for those models at least and anything in there could be worth the 3 points.

Congrats as well BBS!  Is the 6.8 years a new record for lowest AAOA that we've seen to hit 850?

[Anonymous]

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@Thomas_Thumb

In your case AAoA = AoOA for open installment loans - correct? Do you have closed installment loans on file? If so, what is the oldest and what is your aggregate installment AAoA (open + closed)

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I'm not sure what you mean by AAoA = AoOA for open installment loans. 

My oldest closed installment loan on my CR is 14 years.  Oldest open installment loan (my only one) is almost 9 years.

You want me to figure my aggregate installment loan utilization across open and closed installment loans?  I feel like that number get skewed really quick from a refi; I've got a closed mortgage due to a refi that I suppose would be a $0 balance against a $200k original balance.  You want me to figure that into it?

[Thomas_Thumb]

If you have only one open installment loan then aggregate B/L = individual B/L and AAoA = AoOA when considering open only. There is only one account to use in the "average calculation" so individual = average.

Not unlike those with one open revolving account where aggregate utilization = individual utilization.

As shown in the above Credco table, two CRAs appear to look at open + closed loans together for aging while the 3rd focuses on open only (at least for Fico mortgage scoring). Any loan on file, including the closed mortgage associated with a refi, should be included in the AAoA calculation of open + closed loans.

[Anonymous]

Gotcha, that makes sense regarding the age of accounts factors.  I'll figure those out a little later taking my closed loans into account, as I have 4 or 5 of them on my CR.  What about for utilization as I brought up in my last post?  Does closed installment loan utilization matter at all in terms of overall aggregate installment loan utilization?  I would sort of seem silly if so, as closed installment loans by default are at 0% utilization.

[Thomas_Thumb]

Open only as far as I know. Never had a closed loan with a balance. If someone did, I don't think the original loan amount would be included in the denominator for aggregate utilization.

[Anonymous]

That's sort of what I was thinking as well.

[Anonymous]

I'm not sure aging of installment loan is a factor. My AoYA is just 9 months (installment ssl).  

[Anonymous]

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@Anonymous

I'm not sure aging of installment loan is a factor. My AoYA is just 9 months (installment ssl).  

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If it is, I would think points in time greater than the 12 month mark associated with AoYA would be very likely to be thresholds.

Off topic, but you should without question see your EQ score jump to 850 in 3 months when your SSL reaches 12 months in age.  Good to see you were able to achieve a pair of 850's already with your AoYA < 12 months.