@nyyankees877 wrote:
@Anonymous wrote:
@nyyankees877 wrote:I bet the over-limit was a huge chunk of the points.
What I meant by something obvious was whether or not there was a [scoring impact] factor potentially responsible for your score shift outside of the factors I listed in my post.
As for over the limit, my understanding is that doesn't further impact your scores outside of the 2 known factors of aggregate utilization and individual card utilization... so your (highest) individual card(s) utilization was maxed out and of course your aggregate utilization was what it was considering those over limit balances.
Nothing else changed though in that time? As you can see? Ask me anything else you could think of and I’ll answer it.
What is the distribution of those inquiries?
I saw some REALLY weird behavior once upon a time on EX FICO 9 explicitly where it looked like I lost 40-50 points for an inquiry but I had all the points back by the 6 mo mark and maybe even by 3 months which is a marked departure from FICO 8 and earlier but I never confirmed the datapoint. I never had good access to that score, but when I had 3B pulls my 3 FICO 9's between CRA's were nearly identical almost always over time (which allegedly they should be), but when I took that inquiry on the scorecard I was on, it got skewed, badly.
I know FICO 9 penalizes recent things more, FICO 8 does too but FICO 9 moreso, doesn't surprise me that such an outsized gain is seen on FICO 9 potentially but I still suspect it might have gotten conflated. Even so 100 points on what I assume is TU FICO 8 is a big deal regardless hah.
@sarge12 wrote:
@Revelate wrote:
@nyyankees877 wrote:
@Anonymous wrote:
@nyyankees877 wrote:I bet the over-limit was a huge chunk of the points.
What I meant by something obvious was whether or not there was a [scoring impact] factor potentially responsible for your score shift outside of the factors I listed in my post.
As for over the limit, my understanding is that doesn't further impact your scores outside of the 2 known factors of aggregate utilization and individual card utilization... so your (highest) individual card(s) utilization was maxed out and of course your aggregate utilization was what it was considering those over limit balances.
Nothing else changed though in that time? As you can see? Ask me anything else you could think of and I’ll answer it.
What is the distribution of those inquiries?
I saw some REALLY weird behavior once upon a time on EX FICO 9 explicitly where it looked like I lost 40-50 points for an inquiry but I had all the points back by the 6 mo mark and maybe even by 3 months which is a marked departure from FICO 8 and earlier but I never confirmed the datapoint. I never had good access to that score, but when I had 3B pulls my 3 FICO 9's between CRA's were nearly identical almost always over time (which allegedly they should be), but when I took that inquiry on the scorecard I was on, it got skewed, badly.
I know FICO 9 penalizes recent things more, FICO 8 does too but FICO 9 moreso, doesn't surprise me that such an outsized gain is seen on FICO 9 potentially but I still suspect it might have gotten conflated. Even so 100 points on what I assume is TU FICO 8 is a big deal regardless hah.
It is not like this is the first person to get a consolidation loan and report the results. This is an aberation, I think. I did not even think there were almost 150 points available in revolving utilization alone. Even the total debt did not change much. We may never know, but this is the kind of increase that can usually only be acheived by a bankrupty or judgement falling off of reports. I am happy for the OP, but I think until we see it repeated, it is an outlier. I mean the whole catagory of amount owed is 30% of the total score and revolving utilization is only a part of that 30%. It is in any case a truly remarkable increase.
I wonder how much higher it would be without the 40K Lending Club loan?
Only thing I could see is an inquiry for a home loan hit its one year mark so it no longer is calculated in the score. I doubt that contributed to it significantly?
👏🏼👏🏼🙌🏼
I was under the impression that a loan from the Landing Tree is not beeing looked favorably at by the credit agencies? Was I assuming wrong?
@Anonymous wrote:
@kah-pas wrote:I was under the impression that a loan from the Landing Tree is not beeing looked favorably at by the credit agencies? Was I assuming wrong?
I'm not understanding your question. Why would it be unfavorable? Due to the loan itself? The lender? Something else?
Also, the credit reporting agencies don't look at anything favorably or unfavorably, they simply compile/provide data. Lenders then use that data when they view your credit report in making their credit decisions... so are you saying you think a lender would look at a loan unfavorably and if so, why?
I read on these forums that some lenders are sub-prime or something like that. And, it was my understanding, that if you have loans from those sources, not from the major banks, it might reflect poorly on your credit report. Or, at least, that those other sources, "the major banks" would look at your report unfavorably (Lending Tree being one of those lenders) when considering extending you a loan.
Very impressive increase in score.
By any chance do you have a list of Reason Codes for the before and after scores?
The over limit situation is interesting because we don’t see that, like, ever. So with no data points, uncharted territory. I liken it to closed accounts: There is quite a bit of speculation and misunderstanding about how closed accounts impact score, because not many people have closed accounts, with balances, and do not also have the necessary time to adjust their file while a closed account is reporting to measure the impact on score. In most cases, the APR on the closed balance is so onerous that the first priority is paying it off, not playing with it.
And just to be clear, you see that new loan in your total reported balances that are factored in to the 800 score?
@NRB525 wrote:Very impressive increase in score.
By any chance do you have a list of Reason Codes for the before and after scores?
The over limit situation is interesting because we don’t see that, like, ever. So with no data points, uncharted territory. I liken it to closed accounts: There is quite a bit of speculation and misunderstanding about how closed accounts impact score, because not many people have closed accounts, with balances, and do not also have the necessary time to adjust their file while a closed account is reporting to measure the impact on score. In most cases, the APR on the closed balance is so onerous that the first priority is paying it off, not playing with it.
And just to be clear, you see that new loan in your total reported balances that are factored in to the 800 score?
Yes. the 40K lending club loan has been added in the installment debt equation for the TU score.