@Anonymous wrote:OP, impossible to say if it's BS without knowing what your CR looks like.
Slab I have not heard of someone having that negative reason statement present without having late payments on their CR, so that's interesting that you've seen it on a clean file.
I get a "Too few accounts with recent payment information" reason statement every month on my EQ Bankcard Fico 8 from Citi (2016 to date - except when I had an INQ on file). I never had a late payment. I lack a critical mass of accounts so Fico 8 assigns my profile this negative reason statement. [Note: I have 6 open credit card accounts and one open mortgage].
Example pasted below (top paste 2018 screen shot).
The "Too few" reason code is trivial and not worth worring about. When I took a single inquiry on EQ in Nov 2017, it was bumped down and off the list (bottom paste 2017 screen shot)
@Anonymous wrote:
@LP007 wrote:Is this some bull, or is this some bull?
@LP007 aging metrics please?
Any ideas on how to age my rent boost? TU shows a $(0.00) balance with the $(rent amount) paid as agreed each month, but EX shows a $(rent amount) balance with the $(rent amount)t paid as agreed each month. Are these monthly installment loans? how do you age and allocate %s for rent boost into the metric?
@Thomas_Thumb wrote:The "Too few" reason code is trivial and not worth worring about. When I took a single inquiry on EQ in Nov 2017, it was bumped down and off the list (bottom paste)
That's interesting. I don't even see it on my monthly 3Bs with EQ Bankcard 8, and I only have 4 cards with 1 closed SSL.
Citi only shows the top 2, and they match the top 2 on my 3B. The remaining 2 are always:
- (3) "You have not established a long revolving and/or open-ended account credit history"
- (4) "You have too many credit accounts with balances." (50% or 2 of 4)
Of course, I did see it on my also perfectly clean file at various times on EX 8, EX BC8, EX AUTO8, and EQ5. But never on anything since moving from 2 to 4 cards in February.
@Thomas_Thumb wrote:
@Anonymous wrote:OP, impossible to say if it's BS without knowing what your CR looks like.
Slab I have not heard of someone having that negative reason statement present without having late payments on their CR, so that's interesting that you've seen it on a clean file.
I get a "Too few accounts with recent payment information" reason statement every month on my EQ Bankcard Fico 8 from Citi (2016 to date - except when I had an INQ on file). I never had a late payment. I lack a critical mass of accounts so Fico 8 assigns my profile this negative reason statement. [Note: I have 6 open credit card accounts and one open mortgage].
Example pasted below (top paste 2018 screen shot).
The "Too few" reason code is trivial and not worth worring about. When I took a single inquiry on EQ in Nov 2017, it was bumped down and off the list (bottom paste 2017 screen shot)
@Thomas_Thumb I could be wrong, but I think that that is a different reason code TT. One is too few paid as agreed where the other is lacking recent payment information.
@LP007 wrote:
@Anonymous wrote:
@LP007 wrote:Is this some bull, or is this some bull?
@LP007 aging metrics please?
Any ideas on how to age my rent boost? TU shows a $(0.00) balance with the $(rent amount) paid as agreed each month, but EX shows a $(rent amount) balance with the $(rent amount)t paid as agreed each month. Are these monthly installment loans? how do you age and allocate %s for rent boost into the metric?
@LP007 sorry I know nothing about the rental Metrics.
BBS, I don't quantitatively know the effect of "too few" on my score - it could be conditional . My view on presence of a negative reason statements is:
1) It can be costing points directly or...
2) It could be identifying a shortcoming or gap that has the potential to cost points. In this case points may not be lost if an alternate attribute has the ability to fill the gap.
I know what the inquiry is costing me based on comparative analysis. It is 5 to 8 points on BCE at the same # of cards reporting balances. (refer to 2nd paste below).
* I excluded the AU card in count reporting from the above graph. It reports a balance every month but, is not being considered in the Fico 8 algorithm.