FICO 9 Score Factors

[Trudy]

Can anyone confirm the accuracy of the 2 factors noted for FICO 9?  If so FICO 9 seems a bit strict?

Length of time revolving accounts have been established.  My oldest is 22+ years and AAoA is 12.5 years.  Youngest account 1.8 years. What is ideal?

Too many inquiries in last 12 months.  I only have 1 inquiry in the last 12 months, 2 in the last 2 years with one falling off in September.  What is ideal?

Regarding the other 2 factors:

Number of accounts with deliquency is 4 that are 30+, 60+ and one 90+ but the 90+ does not show on Experian.  the last late was 5.7 years ago and the rest should fall off in the next few months.

Proportion of loan balances too high.  Only paid 22% of mortgage and 42% of original auto balance.

*FYI only 1 CC with a balance and it is 1%.  Total CL (revolving acct) 78K+, outstanding balance $149.

[SouthJamaica]

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@Trudy wrote:

Can anyone confirm the accuracy of the 2 factors noted for FICO 9?  If so FICO 9 seems a bit strict?

Length of time revolving accounts have been established.  My oldest is 22+ years and AAoA is 12.5 years.  What is ideal?

Too many inquiries in last 12 months.  I only have 1 inquiry in the alst 12 months, 2 in the last 2 years with one falling off in September.  What is ideal?

Regarding the other 2 factors:

Number of accounts with deliquency is 4 that are 30+, 60+ and one 90+ but the 90+ does show on Experian.  the last late was 5.7 years ago and the rest should fall off in the next few months.

Proportion of loan balances too high.  Only paid 22% of mortgage and 42% of original auto balance.

*FYI only 1 CC with a balance and it is 1%.  Total CL (revolving acct) 78K+, outstanding balance $149.

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I would pay those 'age' factors no mind because your 'newness' figures are stellar. You could have perfect credit scores with your oldest account and average age of accounts, once your inquiry and other things dropped off.

[Anonymous]

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@Trudy

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Hi Trudy.  Negative FICO reason statements only mean that the statement is causing you to lose at least one point from your credit score.  I think we often figure that if a statement is present that it must be impacting our scores in a big way.  This is especially true when it comes to those with high credit scores, as almost by definition there aren't many factors that can be significantly hurting your scores.

Regarding your age of accounts reason statement, you are already > ideal for AoOA and AAoA.  I'd say that your AoYA is causing the statement to be present and I'd guess that in a few months when you cross the 2 year mark it will go away.

Ideal for inquiries would be 0.  Anything greater than 0 can generate a negative reason statement pointing toward too many inquiries. 

Number of accounts with delinquency, anything greater than 0 is less than ideal and can generate a related negative reason statement.

Proportion of loan balances too high simply means you haven't yet crossed the top threshold for substantially paying your loan down below 8.9%.  If your at 9% or greater, points can be gained from lowering installment loan utilization, so since points are being left on the table a negative reason statement can be provided.  Since your revolving utilization is < 8.9%, you won't (and aren't) seeing a negative reason statement referencing revolving balances being too high.

[Trudy]

Thanks for the insight BBS.  

[Trudy]

@BrutalBodyShots : you note:

"Proportion of loan balances too high simply means you haven't yet crossed the top threshold for substantially paying your loan down below 8.9%.  If your at 9% or greater, points can be gained from lowering installment loan utilization,..."

Are there points to be gained from lowering my loan balances (individually or collectively) below higher known thresholds (68.9%, 48.9%, etc)?  You may be answering this in the statement highlighted in red, just no sure.