@Anonymous wrote:
@Revelate wrote:Question for you, do you have any other installment loans? If so what current vs. original balance? Thanks for the datapoint!
I have one open auto loan that is at 79.33 % as of 7/1/15 opened March 2014.
I have two closed auto loans 2008-2011 and 2011-2014.
Job since 2008 requires car "no more than 3 years old" and I do 30K-40K miles per year.
I have no other installment loans of any sort open or closed.
These account show on all 3 reports
From my 6/28/15 3B pull. Experian was (and always has been) my lowest score
I know to take the "score factors" with a grain of salt at times, but interestingly Experian and only Experian tells me
1. "You have no recent activity from a non-mortgage installment loan"
I have 1 open reporting and 2 closed auto loans still showing, what more do they want?
2. "The remaining balance on your mortgage or non-mortgage installment loans is too high"
30 Yr mortgage below 89%
6 year car loan at 81% when report pulled
3. "The balances on your non-mortgage credit accounts are too high"
6 year car loan at 81%
3 credit cards at 8% utilization, one card at 16%
All 3 bureaus tell me
4. You have few accounts that are in good standing"
I have 5 accounts reporting
no missed/lates ever
1 mortgage 89% when report pulled
1 auto loan 81% when report pulled
3 credit cards 8% overall, 16% on one card when report pulled
Using the estimator, a couple more credit cards appear they would help my overal range, the simulator shows anything less than a $20K SL would hurt me
I really don't need any more cards.
I guess I could pay the $20 and pull experian on myfico to see if my mortgage score changed and if any of the "score factors" have changed.
Up to you on that, I do it because I'm interested but after I get through the mortgage hump, probably won't be spending that much there. Cheap hobby for me 
Thank you for the additional information.
@Revelate wrote:
Up to you on that, I do it because I'm interested but after I get through the mortgage hump, probably won't be spending that much there. Cheap hobby for me
Thank you for the additional information.
I pulled EX just to see if I could figure it out.
4-6 point jump across all scores except FICO Score3 which didn't budge.
Same "score factors" so that's not encouraging.
One change I can note is under FICO 8 Score ingredients.
Payment History went from Good to Very Good.
I don;t understand this since I have never missed a payment, but I suspect its a sort of a "best description of the ingredient"
My auto loan has now reported 13 or 14 times (hard to tell from graph) although it originated on 3/31/14 and is technically 15 months old.
It looks like the age of the installment account may have something to do with this score bump not the reduction in amount owed.
Hope I see the same effect in EQ soon.
@Anonymous wrote:
@Revelate wrote:
Up to you on that, I do it because I'm interested but after I get through the mortgage hump, probably won't be spending that much there. Cheap hobby for me
Thank you for the additional information.
I pulled EX just to see if I could figure it out.
4-6 point jump across all scores except FICO Score3 which didn't budge.
Same "score factors" so that's not encouraging.
One change I can note is under FICO 8 Score ingredients.
Payment History went from Good to Very Good.
I don;t understand this since I have never missed a payment, but I suspect its a sort of a "best description of the ingredient"
My auto loan has now reported 13 or 14 times (hard to tell from graph) although it originated on 3/31/14 and is technically 15 months old.
It looks like the age of the installment account may have something to do with this score bump not the reduction in amount owed.
Hope I see the same effect in EQ soon.
If you look in my original post in this thread I got an identical datapoint where all my EX scores jumped except EX Bank 3 (Which would be EX 04 Bankcard Enhanced by standard FICO nomenclature)... which is not entirely surprising as EQ and TU 04 did not move for me and those are the same generation of scores; however, your single installment line and what you paid it to suggests the initial boundary is at 80%.
Nicely done sir! Thank you mucho mucho!
Hahaha, this is the first time I've ever seen a MF alert and thought: Oh My God!
And then secondly:
https://www.youtube.com/watch?v=oavMtUWDBTM
There was a small window with my second Chase mortgage pull where my original mortgage inquiries fell out of their 30 day grace period (and my installment loans hadn't updated, FML, one day off, might've been breathing the 740 tier air or darned close on EX if I'd done this the first time though EQ 04 / TU 04 probably didn't move, see Bankcard 3 in the data below), and since I didn't take a drop with any of them when they first landed and they do appear to be coded correctly I am suggesting they all got rolled up into one for scoring purposes, see datapoint post here:
So I now have one scoreable inquiry taking my EX 98 aka FICO Risk Model v2 from 728 to 722. But then I get this gem, MF records the inquiry against EX finally and both my Alliant and USAA loans had reported to EX and, well, damn. File differences from last pull:
- 1 inquiry now scored on my EX report, 0->1 it did impact my EX 98, presumably did FICO 8, so this isn't clean gain, just illustrative that it might've been even better than this!
- Alliant secured loan: $399 -> $42/500
- USAA secured loan: $1536 -> $236/2500
Wish I'd found this before I started the mortgage process since EX 98 was impacted, but for your viewing pleasure! FICO 8 near 740 even with all my issues from 2010 no less!
| 24-May | 29-May | 5-Jun | 3-Jul | 4-Jul | |
| EX 8 | 712 | 712 | 720 | 739 | |
| EX 2 | 725 | 725 | 728 | 722 | 732 |
| EX Auto 8 | 717 | 717 | 728 | 757 | |
| EX Auto 2 | 741 | 741 | 746 | 747 | |
| EX Bank 8 | 726 | 726 | 739 | 757 | |
| EX Bank 3 | 697 | 697 | 697 | 687 | |
| EX Bank 2 | 739 | 739 | 741 | 745 |
@jamie123 wrote:
@Revelate wrote:Hahaha, this is the first time I've ever seen a MF alert and thought: Oh My God!
And then secondly:
https://www.youtube.com/watch?v=oavMtUWDBTM
There was a small window with my second Chase mortgage pull where my original mortgage inquiries fell out of their 30 day grace period (and my installment loans hadn't updated, FML, one day off, might've been breathing the 740 tier air or darned close on EX if I'd done this the first time though EQ 04 / TU 04 probably didn't move, see Bankcard 3 in the data below), and since I didn't take a drop with any of them when they first landed and they do appear to be coded correctly I am suggesting they all got rolled up into one for scoring purposes, see datapoint post here:
So I now have one scoreable inquiry taking my EX 98 aka FICO Risk Model v2 from 728 to 722. But then I get this gem, MF records the inquiry against EX finally and both my Alliant and USAA loans had reported to EX and, well, damn. File differences from last pull:
- 1 inquiry now scored on my EX report, 0->1 it did impact my EX 98, presumably did FICO 8, so this isn't clean gain, just illustrative that it might've been even better than this!
- Alliant secured loan: $399 -> $42/500
- USAA secured loan: $1536 -> $236/2500
Wish I'd found this before I started the mortgage process since EX 98 was impacted, but for your viewing pleasure! FICO 8 near 740 even with all my issues from 2010 no less!
24-May 29-May 5-Jun 3-Jul 4-Jul EX 8 712 712 720 739 EX 2 725 725 728 722 732 EX Auto 8 717 717 728 757 EX Auto 2 741 741 746 747 EX Bank 8 726 726 739 757 EX Bank 3 697 697 697 687 EX Bank 2 739 739 741 745
Wow! Just...WOW!
THAT IS TOTALLY AWESOME!!!!
Do you realize that it has been many years since the last time the FICO scoring system has been decoded to allow for a fast, cheap and reliable method to raise your scores 10+ points? Probably not since the "One card less than 10% all others $0" came to be understood and that was a looooong time ago!
To be able to raise a mortgage score 10+ points could be worth thousands of dollars!
GOOD GOING REV!!!!
I'll hope I have the same results with my tests. I'll keep this space updated with my results.
Dude, if this holds up it completely falls under my "benefit to humanity" bucket list checkmark.
May be stupid but it has far reaching implications if future testing leads to another easy to optimize boost to scores. Alliant and SDFCU and others might get a ton of new small depository accounts and loan applications too .
I haven't seen it before anyway, hasn't really been much stringent testing on FICO 8 compared to the old guard who dissected FICO 04 least from what I've seen personally.
Actually hell, pulling the EQ report too since it has the updated installment information. Need the datapoint tout suite on Beacon 5.0 rather than waiting for DCU just in case something wierd happens between now and then.
Le sigh, this buying a report and then waiting for the data is for the birds. Get it together MF!
Oh side note: my EQ VS score didn't move upward (just slightly downward for the presumed inquiry) and it was admittedly high before so it might either just be open installment loan present, closed installment loan present, or not look at it at all for all I know as a non-FICO datapoint.
I'm expecting my Beacon 5.0 to be flat or down from the inquiry, but I'm sort of curious what my EQ FICO 8 will do, I took major drops there when my old installment loans closed like everywhere else, wonder if everything will be "right" with the world again after this with my FICO 8's all being non-trivially higher than my older models.
Haha, when I'm good I'm good: precisely as expected - Every FICO 04 model took a drop from the scoreable inquiry and discounted the installment utilization as expected, every single FICO 8 model got a non-trivial boost. Does throw some shade on my Beacon 5.0 datapoints for number of revolvers with balances as that's the precise gain I had when I know at least one scoreable inquiry fell out of range on EQ (on the step function premise), but the hell, installment utilization >>> that.
Also balance to the Force has been restored: my FICO 8 scores are once again higher than my older ones... and EQ still hates me 
| Score | 24-May | 29-May | 5-Jun | 4-Jul |
| EQ 8 | 690 | 690 | 690 | 725 |
| EQ 5 | 700 | 700 | 700 | 693 |
| EQ Auto 8 | 701 | 701 | 701 | 728 |
| EQ Auto 5 | 697 | 697 | 697 | 692 |
| EQ Bank 8 | 705 | 705 | 708 | 742 |
| EQ Bank 5 | 721 | 721 | 721 | 720 |