EXCEPTIONAL amt of debt?

[Anonymous]

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@Anonymous wrote:

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No, I understand the difference.  My dispute is with the statement, "Once the loan is paid off though, all those points go away."

Not ALL those points go away, just those associated with utilization.  The points gained from credit mix stay.

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Yes, that I agree with.  If one closes their only open installment loan, they lose the points realized from having an almost paid off installment loan, a factor that positively impacts the Amounts Owed sector of the Fico pie.  Once the loan is closed though, the points gained (whatever they are) from "credit mix" will still remain since that factor doesn't matter if the loan is open or closed.

[AllZero]

^ BBS, interesting.

I don't think it's been discussed much on what are estimated points for having the credit mix portion fufilled. I can only guess it would be nominal.

I don't recall reading if anyone did testing by opening the SSL that's almost paid off, see score change, close SSL and seeing score difference. It would be too difficult to isolate I would imagine and counterintuitive to close the SSL to lose the almost paid off utilization bonus points.

[Anonymous]

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@AllZero wrote:
I don't think it's been discussed much on what are estimated points for having the credit mix portion fufilled. I can only guess it would be nominal.

I don't recall reading if anyone did testing by opening the SSL that's almost paid off, see score change, close SSL and seeing score difference. It would be too difficult to isolate I would imagine and counterintuitive to close the SSL to lose the almost paid off utilization bonus points.

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@creds has had 2 cards without an installment loan present for several months already.

I have had 2 cards with a closed installment loan for 10 months now.

It would be interesting to compare my 3B's with one of @cred's where utilization on the open cards was closely matched. Maybe we could see the point difference with and without the loan.

My January through October 3B's are all posted here on the forum, along with reason code text on all 28 scores. (First post contains links at the bottom to each report - AoYA 1mo to 10mo.)

[AllZero]

Thank you CassieCard.

[Anonymous]

hi cassie, you added your first bankcard after a year so it's a bit apples to oranges. but here's my data if you want to try matching it up to  yours.

just because you get all the types for creditmix doesn't necessarily mean you score the max points for it. i believe you need 3 bankcards and at least one loan to get max points in the credit mix category. it needs more datapoints.

DATE	EX	TU	EQ	UTIL	PAYMENT HIST	AMT OF DEBT	LENGTH	AMT NEW	CREDITMIX	AoOA (months)	AoYA (months)
08/02/19	707	714	none	19.00%	very good	very good	poor	fair	very good	5	2
08/18/19	717	733	none	2.00%	very good	very good	poor	fair	very good
09/06/19	716	733	none	2.00%	exceptional	very good	poor	good	very good
09/18/19	716	733	none	2.00%	exceptional	very good	poor	good	very good
09/30/19	715	732	none	7.00%	exceptional	very good	poor	good	very good
10/11/19	715	739	none	8.00%	exceptional	very good	poor	good	very good	8	4

[NRB525]

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@Anonymous wrote:

hi cassie, you added your first bankcard after a year so it's a bit apples to oranges. but here's my data if you want to try matching it up to  yours.

just because you get all the types for creditmix doesn't necessarily mean you score the max points for it. i believe you need 3 bankcards and at least one loan to get max points in the credit mix category. it needs more datapoints.

DATE	EX	TU	EQ	UTIL	PAYMENT HIST	AMT OF DEBT	LENGTH	AMT NEW	CREDITMIX	AoOA (months)	AoYA (months)
08/02/19	707	714	none	19.00%	very good	very good	poor	fair	very good	5	2
08/18/19	717	733	none	2.00%	very good	very good	poor	fair	very good
09/06/19	716	733	none	2.00%	exceptional	very good	poor	good	very good
09/18/19	716	733	none	2.00%	exceptional	very good	poor	good	very good
09/30/19	715	732	none	7.00%	exceptional	very good	poor	good	very good
10/11/19	715	739	none	8.00%	exceptional	very good	poor	good	very good	8	4

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Not sure this will be possible before card 3 reports, but you should try to get aggregate utilization above 10% to see what happens with the Amt of Debt.  If that earlier 19% is aggregate, then your low dollar amount of debt is probably influencing the "very good". 

Can you add dollar amount and individual card utilization to that grid?

Also, I get confused as to the days you have listed. I presume these are when you pulled data, not card statement dates? Can you add the card statement dates, or when they updated to the bureaus?

[Anonymous]

those dates are when i pulled the 3b report, nothing else will update until after the amex card begins to report. so it will change this amt of debt calculation in a few ways.

i learned today that a very important consideration of fico scores is the "net fraction revolving burden" i'm not sure what the difference is between this and util, it seems to be the same thing. i haven't looked into that yet.

also the scorecard examples i have show that the average balance of your revolving tradelines is used against you. your average should be between $1 and $99 for the best score. this is a really nasty one where you can lose a lot of points if you didn't pay down your balance before it reports. or if you let multiple cards report.

[Anonymous]

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@Anonymous wrote:

Great replies above from other members regarding the CMS fluff in using words like "exceptional" and "very good" to assign arbitrary "ratings" for different scoring categories.

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I think the OP needs 1/3rd of revolving lines reporting a balance under 9% utilization in order to get an "exceptional" rating.  Maybe an installment loan under 9% is required too.  I suspect it depends on where the threshold between "exceptional" and "very good" is made for utilization points.

[Anonymous]

^^^ that may be the case but it’s still fluff, aka BS, that really has no relevance. Best example of that is someone with a 30-late last year showing 94% payment history and a “good” rating. It’s not good - it was a late payment. That late makes the person’s payment history poor because they did not pay as agreed per the terms of the card account.

[NRB525]

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@Anonymous wrote:

those dates are when i pulled the 3b report, nothing else will update until after the amex card begins to report. so it will change this amt of debt calculation in a few ways.

i learned today that a very important consideration of fico scores is the "net fraction revolving burden" i'm not sure what the difference is between this and util, it seems to be the same thing. i haven't looked into that yet.

also the scorecard examples i have show that the average balance of your revolving tradelines is used against you. your average should be between $1 and $99 for the best score. this is a really nasty one where you can lose a lot of points if you didn't pay down your balance before it reports. or if you let multiple cards report.

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Thus my request for the dollar amounts per account on the previous statement vs the credit limit of each account, at each point in time.  You don't have US Bank yet so the end-of-month timing does not yet apply for that one.