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Huge score drop!

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Frequent Contributor

Re: Huge score drop!


@BrutalBodyShots wrote:

@mooshi123 wrote:
My AAoA is 31 months now. I don’t remember what it was before the car loan dropped off. All of my accounts are less than 5 years old now, newest one from 10/18.

You'd have to compute the AAoA yourself then to figure out how much greater than 31 months it was.  This is simple to do with a calculator and a minute or two of time.  So, your AoOA dropped from ~10 years to under 5 years then?


Yes less 5 years now.  From over 7 years.

Message 11 of 24
Super Contributor

Re: Huge score drop!

Didn't you say the loan was from 2009?  If that was the case, it should have been ~10 years in age at the time it just dropped off, no?

 

Please figure your "before" AAoA so you can determine how much it actually dropped, as knowing that it's 31 months now doesn't tell us much.

Message 12 of 24
Frequent Contributor

Re: Huge score drop!


@BrutalBodyShots wrote:

Didn't you say the loan was from 2009?  If that was the case, it should have been ~10 years in age at the time it just dropped off, no?

 

Please figure your "before" AAoA so you can determine how much it actually dropped, as knowing that it's 31 months now doesn't tell us much.


ok got it... my AAoA was 63 mos. before the oldest account dropped off. I just paid $10,000 reporting later this week. Will see how much Equifax bounces back. Then I'll know how of the score drop was AAoA and how much was the big balances. Same AAoA and balances on Transunion and the hit was so much less. Crazy. All quiet on EX.

Message 13 of 24
Super Contributor

Re: Huge score drop!


@mooshi123 wrote:


ok got it... my AAoA was 63 mos. before the oldest account dropped off.


So, your AAoA was just about cut in half in going from 63 months --> 31 months.  That's a pretty significant drop.  In years of course that's going from over 5 years to less than 3 years.  While difficult to quantify, I'd shoot from the hip and say that caused a 15-20 point drop.  The thresholds for AAoA are somewhat of a mystery, but I'd guess that you crossed probably 4-5 of them at ~4 points apiece or so.

Message 14 of 24
Frequent Contributor

Re: Huge score drop!


@BrutalBodyShots wrote:

@mooshi123 wrote:


ok got it... my AAoA was 63 mos. before the oldest account dropped off.


So, your AAoA was just about cut in half in going from 63 months --> 31 months.  That's a pretty significant drop.  In years of course that's going from over 5 years to less than 3 years.  While difficult to quantify, I'd shoot from the hip and say that caused a 15-20 point drop.  The thresholds for AAoA are somewhat of a mystery, but I'd guess that you crossed probably 4-5 of them at ~4 points apiece or so.


That's the hit I took on Transunion. The Equifax crater was pobably more from the higher balances reporting. I had been watching to see what the home improvement balances would do my score. I have been adding debt for the last two months. Things were pretty stable, a few points here and there. I think I lost my AAoA and passed a usage % mark around the same time. Paying down is all I can do now... and not open ANY new credit for a while!!! and hope I don't get nailed with AA.

Message 15 of 24
Super Contributor

Re: Huge score drop!


@mooshi123 wrote:

Paying down is all I can do now... and not open ANY new credit for a while!!! and hope I don't get nailed with AA.

Nah, AA shouldn't be a factor.  AA comes 95% of the time from missing a payment, probably 4% of the time from prolonged high utilization and 1% of the time from some other factor.  You've got nothing bad going on with your payment history or utilization.

Message 16 of 24
Super Contributor

Re: Huge score drop!


@BrutalBodyShots wrote:

@mooshi123 wrote:

Paying down is all I can do now... and not open ANY new credit for a while!!! and hope I don't get nailed with AA.

Nah, AA shouldn't be a factor.  AA comes 95% of the time from missing a payment, probably 4% of the time from prolonged high utilization and 1% of the time from some other factor.  You've got nothing bad going on with your payment history or utilization.


I'd sure like to know where those stats come from, because I've had major AA twice, with not a single late payment and with prolonged low to exceedingly low utilization.

 

 


Total revolving limits 728500 (602000 reporting) 10/2/19 FICO 8 scores: EQ 744 TU 782 EX 746
Message 17 of 24
Frequent Contributor

Re: Huge score drop!


@SouthJamaica wrote:

@BrutalBodyShots wrote:

@mooshi123 wrote:

Paying down is all I can do now... and not open ANY new credit for a while!!! and hope I don't get nailed with AA.

Nah, AA shouldn't be a factor.  AA comes 95% of the time from missing a payment, probably 4% of the time from prolonged high utilization and 1% of the time from some other factor.  You've got nothing bad going on with your payment history or utilization.


I'd sure like to know where those stats come from, because I've had major AA twice, with not a single late payment and with prolonged low to exceedingly low utilization.

 

 


Who AA'd you? I'm worried about BOA, Chase and Citi... I'm not carrying balances with those banks but I have some big limits and my favorite rewards cards with them.

Message 18 of 24
Super Contributor

Re: Huge score drop!


@SouthJamaica wrote:


I'd sure like to know where those stats come from, because I've had major AA twice, with not a single late payment and with prolonged low to exceedingly low utilization.

 


That's the 1%.  I bet green money that for the 2 instances you experienced there were 190 people that received AA brought about by late payments and 8 people that took it due to prolonged high utilization.

 

In your opinion, what was the AA catalyst from the two times you received it?

Message 19 of 24
Frequent Contributor

Re: Huge score drop!

I like you! You tell me what I want hear.
Message 20 of 24
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