How long does it take before your profile hits 800+ FICO 8 without an active installment loan?

[crystal626]

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@BrutalBodyShots wrote:

Gotcha, that makes more sense.

You said you got an alert of this? Can I ask what it said specifically? I'm not sure I've ever seen a CMS alert to an inquiry becoming unscorable. I've seen alerts to them dropping off of a credit report since that's a very obvious report data changing event which is easily alertable.

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It was an alert for the credit score increase. When I checked, it said that my number of inquiries in the last year went to 0.

[BrutalBodyShots]

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@crystal626 wrote:

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It was an alert for the credit score increase. When I checked, it said that my number of inquiries in the last year went to 0.

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So isn't that alert stating that there are now no inquries on that bureau report? How is it differentiating between scoreable and non scoreable inquiries I guess is my question?

[crystal626]

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@BrutalBodyShots wrote:

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@crystal626 wrote:

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It was an alert for the credit score increase. When I checked, it said that my number of inquiries in the last year went to 0.

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So isn't that alert stating that there are now no inquries on that bureau report? How is it differentiating between scoreable and non scoreable inquiries I guess is my question?

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Here is what it shows.

[crystal626]

To be clear, it shows that under activity, not under alerts, so I suppose it's not accurate to say that I got an alert for the change, just for the score increase.

[BrutalBodyShots]

Apologies if I missed this in one of your earlier comments, but which CMS is this?

I think it comes down to a poorly worded statement from the CMS. It's inaccurate to say that an inquiry "from the last year" is no longer on your credit report the way it's being presented. A better way for the CMS to frame what they are trying to communicate is "a hard inquiry has reached a year in age" or something to that tune since a CMS can't actually declare that one is only score-impacting for 365 days.

[crystal626]

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@BrutalBodyShots wrote:

Apologies if I missed this in one of your earlier comments, but which CMS is this?

I think it comes down to a poorly worded statement from the CMS. It's inaccurate to say that an inquiry "from the last year" is no longer on your credit report the way it's being presented. A better way for the CMS to frame what they are trying to communicate is "a hard inquiry has reached a year in age" or something to that tune since a CMS can't actually declare that one is only score-impacting for 365 days.

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It's Capital One Credit Wise.

I wasn't aware that the CMSes weren't allowed to say something that FICO themselves say?

How long do credit inquiries stay on your credit report?

Hard inquiries stay on the report for up to two years, but they only affect the FICO^® Scores for a year. Note that on credit reports from myFICO, inquiries are only shown for 12 months (to align with the period when FICO Scores consider inquiries).

https://www.myfico.com/credit-education/credit-reports/does-checking-credit-score-lower-it

It feels like they should be able to word it better.

[crystal626]

Experian FICO 9 went up there on my Wells Fargo score refresh today.

 

Experian FICO 8 hasn't budged yet though. As of today it's still showing 8 cards with a balance so I wonder what made my Experian 9 so happy between June and now.

[Thomas_Thumb]

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@crystal626 wrote:

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@BrutalBodyShots wrote:

Apologies if I missed this in one of your earlier comments, but which CMS is this?

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It's Capital One Credit Wise.

How long do credit inquiries stay on your credit report?

Hard inquiries stay on the report for up to two years, but they only affect the FICO^® Scores for a year.

Note that on credit reports from myFICO, inquiries are only shown for 12 months (to align with the period when FICO Scores consider inquiries).

https://www.myfico.com/credit-education/credit-reports/does-checking-credit-score-lower-it

It feels like they should be able to word it better.

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The wording is accurate. Hard inquiries do stay on credit reports (EQ, TU and EX) for 2 years. That's where the data is pulled from for scoring. It is also true that Fico scores them for one year. MyFICO summary reports are not officially credit reports. 

VantageScore scores HPs for the full 2 years so they can't be removed from official credit reports before then. 

[Thomas_Thumb]

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@crystal626 wrote:

Experian FICO 9 went up there on my Wells Fargo score refresh today.

 

Experian FICO 8 hasn't budged yet though. As of today it's still showing 8 cards with a balance so I wonder what made my Experian 9 so happy between June and now.

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Looks like WF did their monthly pull for your EX 9 score earlier today. Does your latest EX 8 score show an 8/11 pull date?

Neither EX Fico 8 or EX 9 scores show sensitivity to % of cards or number of accounts with balances. On the otherhand EQ and TU do react favorably to reducing % and #. 

Perhaps balance lowering had a greater positive impact on EX 9 compared to EX 8. FWIW, since I closed my only open loan nearly 6 years ago, my EX 9 score always tracks a few points higher than EX 8.

BTW - Will your number of cards with balances dropping to 4 or 5? I can't recall. Also, what was the open date for your youngest revolving CC?

[crystal626]

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@Thomas_Thumb wrote:

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@crystal626 wrote:

Experian FICO 9 went up there on my Wells Fargo score refresh today.

 

Experian FICO 8 hasn't budged yet though. As of today it's still showing 8 cards with a balance so I wonder what made my Experian 9 so happy between June and now.

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Looks like WF did their monthly pull for your EX 9 score earlier today. Does your latest EX 8 score show an 8/11 pull date?

Neither EX Fico 8 or EX 9 scores show sensitivity to % of cards or number of accounts with balances. On the otherhand EQ and TU do react favorably to reducing % and #. 

Perhaps balance lowering had a greater positive impact on EX 9 compared to EX 8. FWIW, since I closed my only open loan nearly 6 years ago, my EX 9 score always tracks a few points higher than EX 8.

BTW - Will your number of cards with balances dropping to 4 or 5? I can't recall. Also, what was the open date for your youngest revolving CC?

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I get daily FICO 8 and credit report updates on Experian free from the Experian app and my score hasn't changed on EX8 at all yet.

I may be able to get down to 3 next month. Debating paying another card off before the statement. 

My youngest account, a CLOC from Affinity FCU, will hit 1 year in October.