I made a post a few months back about my fico score dropping 78 points and I couldn't figure out why, I have given up trying to figure it out.
however, equally as concerning is the fact that my score doesn't appear to be recovering at all, for example I just hit the 6 month threshold for my youngest account, and from what I've seen this almost always adds points. Usually at least a few points. I know I got 10 points back when I hit the 3 month mark.
am I wrong? Is 6 months not worth any points?
@Cblough93 wrote:I made a post a few months back about my fico score dropping 78 points and I couldn't figure out why, I have given up trying to figure it out.
however, equally as concerning is the fact that my score doesn't appear to be recovering at all, for example I just hit the 6 month threshold for my youngest account, and from what I've seen this almost always adds points. Usually at least a few points. I know I got 10 points back when I hit the 3 month mark.
am I wrong? Is 6 months not worth any points?
Frustration abounds! There are so many scoring models and so many different variables that go into each that figuring out score fluctuations seems like an exercise in futility. These models seem more like a recipe, not a formula. A formula is static, a recipe leaves space for experimentation. Imagine being in college and having your final grade determined by 3 different professors with 3 different interpretations. Good luck to us all.
@Cblough93 wrote:I made a post a few months back about my fico score dropping 78 points and I couldn't figure out why, I have given up trying to figure it out.
however, equally as concerning is the fact that my score doesn't appear to be recovering at all, for example I just hit the 6 month threshold for my youngest account, and from what I've seen this almost always adds points. Usually at least a few points. I know I got 10 points back when I hit the 3 month mark.
am I wrong? Is 6 months not worth any points?
I just got a boost on all 3 FICO 8 scores when my AoYA hit 6 months. And there was nothing else good happening in my reports. So in my opinion yes, 6 months is a threshold.
Increases were:
EQ +10
TU +12
EX +9
Well,
that was the answer I was expecting, but unfortunately that leaves me with even more questions. Losing points is 1 thing, but not gaining those points back at expected thresholds is another story. doesn't any sense.
@Thomas_Thumb wrote:It may depend on type of account (revolving vs installment loan vs open account, AMEX charge). It may also depend on the version of Fico.
I recall SJ opening a new SSL about 6 months ago. Not sure about his latest CC card. Many believe 6 months of payment history on a new loan - particularly if it is the only open loan can add points.
I meant to be referring to revolving accounts and AoYRA. My most recent credit card just hit 6 months.
My most recent installment loan is at 9 months.