Checked my account status on Credit Karma. My high balance card shows being paid off on TransUnion but the balance still shows on Equifax. Typically my VS3 scores are the same on all three CRAs if open accounts are showing the same payment status.
The reduction in aggregate utilization (12% to 4%) was worth 11 points on VS3. Looking at EQ the increase in aggregate utilization (11% to 12%) cost 2 points.
@Thomas_Thumb wrote:
@Anonymous wrote:
@Thomas_Thumb wrote:
All as expected. My mortgage was still reporting as open. However, I had no other installment loans.
The "lack of recent installment loan information" is present because this particular metric excludes mortgages..
So is that metric costing you points? I mean, the presence of a negative reason code means it's adversely impacting score... is that a Fico 9 thing? To me that suggests credit mix isn't being satisfied... does that mean you have no other non-mortgage installment loans (closed included) on your CR?
@Anonymous My credit mix has always been Very Good, never Excellent/Exceptional. According to Fico representatives, the front end software accuractly reflects the Fico scoring algorithm's assessment of various profile metrics. Certainly my profile is not optimized with respect to credit mix and it is leaving some points on the table for that metric. The situation is not specific to Fico 9.
As you know, mix is a minor contributor to score. I never had an issue holding 850 on Fico 8 or Fico 9 with a VG mix. My recent point drops (Fico 8 and Fico 9) are undoubetedly due to a rise in revolving utilization above a critical threshold.
My open card accounts (1 charge card, 4 credit cards and 1 AU credit card) have remained constant since 2014. No changes in any CLs since 2017. All accounts are listed in each report and all are being used. However, the # of revolving accounts LISTED ON THE 3B SUMMARY has dropped from (EQ=6, TU=6, EX=6 in 4/2018) to (EQ=6, TU=5, EX=5 in 4/2020) to (EQ=5, TU=4, EX=5 in 10/2020). See below pastes (top to bottom 4/2018, 4/2020, 10/2020):
For reference, # of accounts with balances (4/2018, 4/2020, 10/2020 top to bottom):
Why the drop in # of Revolving Accounts as shown in the summary? All accounts being reported and are in active use. Furthermore, the # of accounts showing balances has increased.
I suspect the front end software was updated this year to no longer include the AU card in the count total for any of the CRAs. In addition, I suspect the charge card (which is an open account with 1 month terms as opposed to a revolving account) is now not included in the TU count. Alternatively, my AMEX charge card is not included on any CRA with the AU card being excluded from count on TU only.
I would appreciate input from others that get 3B reports on whether or not their AMEX charge card and/or AU credit cards are included in the "Revolving Accounts" number and/or "Accounts With Balance" number.
@Thomas_Thumb my authorized user PLCC account, which is discounted on version 8, is counted in the total number of revolving accounts in MF, as are closed revolvers.
Even though EX & TU have the same accounts, TU shows one less bankcard, maybe Carecredit is counted as a bankcard at EX. Not counted as bankcard at EQ either apparently as it shows 3 less bankcards and it has an old JCP plus my 2 PLCCs.
I paid off the Fidelity card with a large balance and then stopped using it for a month. It since reported a small statement balance. Another card not currently in use reported a zero statement balance. Five cards had reported small balances on today's pull. No cards were over 10% and aggregate was down to 2% (from 13%). See pastes below.
EX Fico 8 thru Discover scorecard is reporting at 848 - 1/16/2021 pull. (TU Fico 8 thru my Discover card account still shows December pull). EX Fico 9 thru Wells Fargo updated 1/2/2021 and now is at 849. Fico 8 and Fico 9 scores of 850 score are undoubtedly achievable without an open loan. However, optimizing other factors such as aggregate and individual card revolving utilization becomes critical. Keeping # cards reporting balances low is important but, AZEO is still not critical. For my "no open loan" profile, I suspect 850 is possible with 3 or less cards reporting "small" balances
Prior to the October 2020 loan payoff I could maintain 850 with 6 of 6 cards reporting balances and even with an individual card reporting 71% utilization ($3200/$4500) as long as aggregate utilization was under 9%. Loan reported closed to CRAs in November.
Here is some comparison data from CK on VantageScore 3.0 relating to score improvements due to decreased utilization. Note the intermediate data points for TransUnion which suggests TU is being updated more often than EQ. For today's update both TU and EQ list 5 of 6 cards reporting balances as pasted below. Overall utilization is 2% with AMEX charge card not counting toward revolving utilization.
1/16/2021 Update
