FICO Scorecard Reason Code

[CreditMagic7]

I know i have a long wait on this one but since buckling down hard this year and doing good several months already, am curious where this range generally is as far as a Threshold.

From what i've been able to determine so far it's likely based on the newest account first and working back but how far?

What is the average amount of months (or years) before this particular Reason Code goes away? 

LENGTH OF TIME ACCOUNTS HAVE BEEN ESTABLISHED

People who do not frequently open new accounts and have longer credit histories generally pose less risk to lenders. The age of your oldest account and/or the average age of your accounts is relatively low

[SouthJamaica]

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@CreditMagic7 wrote:

I know i have a long wait on this one but since buckling down hard this year and doing good several months already, am curious where this range generally is as far as a Threshold.

From what i've been able to determine so far it's likely based on the newest account first and working back but how far?

What is the average amount of months (or years) before this particular Reason Code goes away? 

LENGTH OF TIME ACCOUNTS HAVE BEEN ESTABLISHED

People who do not frequently open new accounts and have longer credit histories generally pose less risk to lenders. The age of your oldest account and/or the average age of your accounts is relatively low

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I believe that the reason codes are provided on a relative, rather than an absolute, basis.

As I understand it, once your scores exceed 800 you get no reason codes at all.

And while you are getting reason codes, they pick the top 3 or 4 or so, even if their negative effect is slight, in order of impact.

[disdreamin]

I'm not sure the part about not having reason codes is accurate. I have reason codes and my current TU score is well over 800. The reason codes become sort of arbitrary at that point, it seems, but they are still present (I currently show two - Too many accounts with balances and Proportion of balances to credit limits too high on revolving accounts).

[Anonymous]

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@SouthJamaica wrote:

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@CreditMagic7 wrote:

I know i have a long wait on this one but since buckling down hard this year and doing good several months already, am curious where this range generally is as far as a Threshold.

From what i've been able to determine so far it's likely based on the newest account first and working back but how far?

What is the average amount of months (or years) before this particular Reason Code goes away? 

LENGTH OF TIME ACCOUNTS HAVE BEEN ESTABLISHED

People who do not frequently open new accounts and have longer credit histories generally pose less risk to lenders. The age of your oldest account and/or the average age of your accounts is relatively low

---

I believe that the reason codes are provided on a relative, rather than an absolute, basis.

As I understand it, once your scores exceed 800 you get no reason codes at all.

And while you are getting reason codes, they pick the top 3 or 4 or so, even if their negative effect is slight, in order of impact.

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This is correct for the Fico 8 classic versions. The Fico 8 auto enhanced and bankcard enhanced, the factors go away at 850. At least this is the case with TU, which is my only score that's ever hit that stratosphere.

[Anonymous]

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@disdreamin wrote:

I'm not sure the part about not having reason codes is accurate. I have reason codes and my current TU score is well over 800. The reason codes become sort of arbitrary at that point, it seems, but they are still present (I currently show two - Too many accounts with balances and Proportion of balances to credit limits too high on revolving accounts).

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My reason codes went away over 800 on TU and EX for Fico 8 classic.

[CreditMagic7]

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@disdreamin wrote:

I'm not sure the part about not having reason codes is accurate. I have reason codes and my current TU score is well over 800. The reason codes become sort of arbitrary at that point, it seems, but they are still present (I currently show two - Too many accounts with balances and Proportion of balances to credit limits too high on revolving accounts).

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I'm trying to determine if this might also be more closely correlated or not in some fashion along similar lines that we find about less impact to FICO scores after a 12 month period as pertains to Inquiries or if it branches apart in another form or is extended longer than the actual INQ that also accompany that particular account(s).

[disdreamin]

I'm looking at my TU score via Barclay's and I see two reason codes with that score. I am trying to figure out which scoring model that uses - I thought I was seeing it was FICO 8.

[Anonymous]

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@disdreamin wrote:

I'm looking at my TU score via Barclay's and I see two reason codes with that score. I am trying to figure out which scoring model that uses - I thought I was seeing it was FICO 8.

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It is Fico 8. Barclays may be adding their two cents worth, but on CCT and MyFico, the codes have always gone away for me when my score busts through the 800 mark. Then they promptly come back when I dip back below. 

[CreditMagic7]

So let's turn focus away for a moment from you fortunate peeps that play in the 800 range.

What's being suggested then with that line of discovery is that your scores have to break thru 800 for that "reason code" to fade away.

I'm sure an 800 score alone doesn't also cancel out the reason code of "Length of time accounts have been established" which is brings me back to the basic point of the topic.

What (if any) range in months or years do "New Accounts" become FICO established?

Or are no longer Tagged with that gripe.

[disdreamin]

I can probably answer that one, although not for absolute certain. My one year anniversary for my newest pull/line was one year ago and my TU and EX scores are back up to roughly where they were pre-spree, and I no longer have the "new account" flag showing, which I know it did up until at least March. The May pull shows a significant score jump 13 points on TU, which was where the new accounts were really hitting me since my most recent apps all seemed to pull TU.

Edited to add: for sure the HP's also affected my score, but the new lines did as well. My EX, which was not pulled in my app spree, finally went back up the 6 points it had been lagging pretty much ever since I opened my new accounts. The TU was a double whammy as there were HP and the new lines on that bureau.