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From 1 to 0 inquiries on a clean/young/thin file

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Valued Contributor

Re: From 1 to 0 inquiries on a clean/young/thin file

I couldn't wait for EQ due to going LOCO (Late Onset Credit Obsessed - credit to @Peazmom for the original version!.)

 

EQ had the best outcome so far - +9 to +12 on all 9 FICO scores.

 

So this month I got a net gain of +10pts on my middle mortgage score after that scorecard switch dropped my EX 2 from 733 to 711 and then back up to 724 with the inquiry aging to 1 year.

 

I'm going to pay the Mastercard to $0 and the Visa to $630 (from 8% to 7% ind. util) before January's statement closings to see how good AZEO is on this new scorecard. (Balances always paid in full shortly after statement closing. I pay down the new spend to whatever I want it to report.)

 

Borrowing from @Revelate, I want to 'look pretty' for that extensive TU trended data on my credit union issued Mastercard. I think dropping from 8% to 6% aggregate in the month after Christmas is a pretty good look compared to the general population. I know it doesn't matter that much, but my credit union sees it and that's where I'm going for home and auto loans.

 

(Apparently, 'Heavy use of revolving credit' on EQ 5 = $816.59 of $11,000, or 8% aggregate [7.42% actual].)

Previous Report

12/10/2019

  • AoOA: 2 yr 0 mo
  • AAoA: 1 yr 4 mo
  • AoYA: 1 yr 0 mo

Current Report

12/24/19

What changed?

  • AoOA: 2 yr 0 mo
  • AAoA: 1 yr 4 mo
  • AoYA: 1 yr 0 mo
  • 1 remaining scorable inquiry ages to 1 year. Now at 0 scorable inquiries.
  • Both open accounts had statement closings during the first week of December. They don't report again until the first week of January.

 

  • PAYMENT HISTORY: EXCEPTIONAL
  • AMOUNT OF DEBT: VERY GOOD
  • CREDIT HISTORY LENGTH: POOR
  • AMOUNT OF NEW CREDIT: VERY GOOD
  • CREDIT MIX: VERY GOOD

 

 

12/10

Δ

12/24

FICO 8

EQ

719

+11

730

[Change]

Short credit history, No recent loan activity

 

Short credit history, No recent loan activity, Too many accounts with balances

FICO 9

EQ

730

+9

739

 

Short credit history, No recent loan activity, Too many accounts with balances, Short revolving credit history

FICO 5

EQ

724

+11

735

[Change]

Short credit history, High revolving balances, Short revolving history, Heavy use of revolving credit

 

Short credit history, High revolving balances, Short revolving history, Seeking credit

FICO Bankcard 8

EQ

720

+12

732

 

Short credit history, No recent loan activity, Too many accounts with balances, Short revolving credit history

FICO Bankcard 9

EQ

739

+9

748

 

Short credit history, No recent loan activity, Too many accounts with balances, Short revolving credit history

FICO Auto 8

EQ

694

+11

705

 

Short credit history, No recent loan activity, Too many accounts with balances, Short installment credit history

FICO Auto 9

EQ

737

+12

749

 

Short credit history, No recent loan activity, Too many accounts with balances, Short revolving credit history

FICO Auto 5

EQ

732

+10

742

[Change]

Short credit history, High revolving balances, Short revolving credit history, Recently opened new credit account

 

Short credit history, High revolving balances, Short revolving credit history, Seeking credit

FICO Bankcard 5

EQ

725

+10

735

 

Short credit history, Short installment credit history, High revolving balances, Short revolving credit history

Message 11 of 37
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Super Contributor

Re: From 1 to 0 inquiries on a clean/young/thin file

@CassieCard Which versions do you believe you were reassigned on? All or only some?
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.

RIP:







Updated June 2020, unless otherwise noted. I took an HP on EX, will reflect on next update.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (aged/nonaged), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/aged/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 12 of 37
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Moderator Emeritus

Re: From 1 to 0 inquiries on a clean/young/thin file

Heavy Use might actually be a dollar value instead.

 

Strange that, now that I think of it that must've counted under EX FICO 2 too for my 43.5K CSR.  I have a high TCL though, 208.7K to be precise and going from 1.1k to <400 doesn't seem relevant percentage wise TBH.




        
Message 13 of 37
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Super Contributor

Re: From 1 to 0 inquiries on a clean/young/thin file

In one thread, there appeared to be a correlation between multiple revolvers with balance > 28.9% and the Heavy Use.

Did you have any other revolvers with a balance at that time? I don't recall which algorithm it was, but just a thought and curious myself.
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.

RIP:







Updated June 2020, unless otherwise noted. I took an HP on EX, will reflect on next update.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (aged/nonaged), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/aged/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 14 of 37
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Moderator Emeritus

Re: From 1 to 0 inquiries on a clean/young/thin file

Some percentage line would make sense on now the rest of the algorithm components work but the approximate balances were:

850ish/43500 - squirrelly tradeline under EX FICO 2 because of the limit.

340ish/25000

Nowhere close to a 28.9% line and yet the reason code showed up in the #4 slot. We aren’t even at 10% hence not taking the additional few minutes to get real numerical values though if desired I can get that. I just don’t understand how it’s factored with the odd tradeline and if that skews it badly.



        
Message 15 of 37
Highlighted
Super Contributor

Re: From 1 to 0 inquiries on a clean/young/thin file

@Rev No need to get the precise data in that case. I just had one thread where someone had the reason and had a couple to a few revolvers over 28.9%, so I was attempting to formulate a working theory. Guess its back to the drawing board...

Doesn't seem like it would just be multiple revolvers with a balance, as we already have that a code for that. I'm stumped for the moment.
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.

RIP:







Updated June 2020, unless otherwise noted. I took an HP on EX, will reflect on next update.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (aged/nonaged), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/aged/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 16 of 37
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Moderator Emeritus

Re: From 1 to 0 inquiries on a clean/young/thin file

I am going to let my CFU report with a larger than 800 dollar balance (over 2K might even be more depending how I proceed with building the lab).

If it is size or percentage either aggregate or individual (since that is a 25k tradeline) we can see if it shows up again. If it doesn’t I’ll check with two balances again and if that still fails then there is probably something wonky with the algorithm and the 43.5k tradeline. Maybe it doesn’t recognize the limit and goes off high balance or something I don’t have any real idea at this point either but we should be able push this a little further towards resolution I think.



        
Message 17 of 37
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Moderator Emeritus

Re: From 1 to 0 inquiries on a clean/young/thin file


@Revelate wrote:
I am going to let my CFU report with a larger than 800 dollar balance (over 2K might even be more depending how I proceed with building the lab).

If it is size or percentage either aggregate or individual (since that is a 25k tradeline) we can see if it shows up again. If it doesn’t I’ll check with two balances again and if that still fails then there is probably something wonky with the algorithm and the 43.5k tradeline. Maybe it doesn’t recognize the limit and goes off high balance or something I don’t have any real idea at this point either but we should be able push this a little further towards resolution I think.

I'm such an idiot I even confused myself.

 

The squirrley High Revolving Balances was on EX FICO 3 with that small number, not EX FICO 2.

 

My bad am sorry.  That said I don't know what caused the +4 on EX FICO 2 when I paid off that 800, happened below the current 4 reason codes.  Will test again in May when Seeking Credit should be gone and maybe New Accounts will be off too, maybe.

 




        
Message 18 of 37
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Valued Contributor

Re: From 1 to 0 inquiries on a clean/young/thin file


@Birdman7 wrote:
@CassieCard Which versions do you believe you were reassigned on? All or only some?

The EX 2 models, definitely. Those all went down -19 to -22 pts on 12/1 with no change in balances or anything else besides the extra month of aging.

 

I think it's safe to say EQ 8 and EX 8 as well, since the inquiry aging off didn't return the same amount of points lost last year (EQ -20pts and EX -19pts). Neither did any of the 7 EX scores on CreditWorks.

 

I reached AoOA 2yrs (known segmenter) at the same time AoYA reached 1yr. It's also just 1 year of revolving history, where most people start with revolving accounts from the start and would have 2yrs of revolving history. I think this is an important factor.

Message 19 of 37
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Valued Contributor

Re: From 1 to 0 inquiries on a clean/young/thin file


@Revelate wrote:

Heavy Use might actually be a dollar value instead.


I think so too, and I think FICO is giving us a big clue in the questions the FICO Estimator asks. I have had $816 in total balances reporting for November and December. That's in the '$500 to $999' interval, so it's time to let $499 total report for January and see if there is a shift in 'Heavy Use' and 'High revolving balances'.

 

estimator-question-balances.png

Message 20 of 37
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