TU 04 datapoint, I think this is clean since I didn't tick over 5 years AAOA, I'm in a derogatory scorecard so the new Citi DC that reported is a non-issue, and the accounts with reason codes not only dropped off but I got a big score shift.
4/2/19: 747 6/18 accounts with balances
- You have a serious delinquency (60 days past due or greater) or derogatory indicator on your credit report.
- You have too many credit accounts with balances.
- You recently missed a payment or had a derogatory indicator reported on your credit report.
- You have a short credit history.
5/7/19: 767 (+20) 3/19 accounts with balances
- You have a serious delinquency (60 days past due or greater) or derogatory indicator on your credit report.
- You recently missed a payment or had a derogatory indicator reported on your credit report.
- You have a short credit history.
That's a whole mortgage tier.
Also note 3 reason codes: nothing about installment utilization at all , but it is on TU 4 Bankcard... which is a really interesting thing to me.
3. The remaining balance on your mortgage or non-mortgage installment loans is too high.
Also funny, a 767 puts me in the top shelf for conventional PMI even on a mortgage app... go me! Didn't get anything back on the email response I made back to SpaceX so a small condo in Seattle isn't in the cards apparently but might make sense to pick up a small shack near a Caltrain station if I'm stuck in the Bay Area for work on a more regular basis.
New account apparently resetting AOYA dropped me from 784 to 777.
Then today a second credit card reported:
3/19 to 4/19 accounts, 15.8% -> 21.1%
EX FICO 2: 777 -> 770
Same magnitude change as previously, and the reason code for "accounts with balances" came back in the #4 slot.
@Revelate wrote:New account apparently resetting AOYA dropped me from 784 to 777.
Then today a second credit card reported:
3/19 to 4/19 accounts, 15.8% -> 21.1%
EX FICO 2: 777 -> 770
Same magnitude change as previously, and the reason code for "accounts with balances" came back in the #4 slot.
So it looks like 40% is a thing and 20% is a thing.
@SouthJamaica wrote:
@Revelate wrote:New account apparently resetting AOYA dropped me from 784 to 777.
Then today a second credit card reported:
3/19 to 4/19 accounts, 15.8% -> 21.1%
EX FICO 2: 777 -> 770
Same magnitude change as previously, and the reason code for "accounts with balances" came back in the #4 slot.
So it looks like 40% is a thing and 20% is a thing.
Yeah seems to be pretty reasonable. I have one more account still to report (Amex revolver) once that lands I'm on 20% flat at 4 accounts with balances... not really inclined to open up another CC to test this frankly but eventually the auto loan gets paid (maybe sooner than later, I probably should just pool cash waiting for the market to fall through these trade things and then hop in with whatever I've got but meh, guarunteed 3.85%) at which point I can concretely test if it's 20% of all accounts or some other metric.
No open installment tradelines at all?
@Anonymous wrote:
What are you thinking? 2/16=11.11%? We need SJ here, LOL!
Why the difference when one CC is CU?
The working theory it is all accounts with balances, revolving and installment.
It might not be, hell it might be exactly one revolver numerically to all the old wisdom but I believe TT had that reason code at one revolver on EQ FICO 5. Admittedly FICO 98 and FICO 04 models are absolutely different, and this might be one such element. Also CU cards are weird under FICO 2 or under just Experian older models: my DCU at $500 is discounted as is my DCU HELOC... at this point for this calculation I'm only testing with bank cards that I know count. I can't explain the 779 TBH unless it's just something funky.
Incidentally, identically as funky as your TU FICO 8 find with that retail card.
I may need to get out of this current new accounts / inquiries bit on Experian before I can get accounts with balances back on, it might just be sitting at #5 for me. I really hope it's just explicitly one revolver with balance rather than all accounts, if not it's utterly absurd to optimize for. Might be basically 11 months before I can really see on this particular algorithm unfortunately short of my CFA wandering away which I'm not expecting till 2022... gift that keeps on giving that one stupid account.
If I had better access to TU FICO 4 I could probably exactly tease it out as I only have 3 reason codes at my one revolver and two installment lines reporting out of 19 and accounts with balances is not one of them whereas it was before - by definition I passed the optimum breakpoint on that score; it's also the score that saw the strongest movement for me during this: 740 -> 767 from 6/18 to 3/19 between my two snapshots. Not too hard to grab a snapshot of that score at 2 revolvers reporting, and then whenever my auto loan is paid (though I did buy the most recent market dips) I can get it exactly for that algorithm as to whether it's accounts or just revolvers, that would be handy.
At some level this is just intellectual distraction (or masturbation TBH) as it's absolutely 100% crystal clear that however many accounts you have, when it matters for a mortgage, get down to AZEO anyway and if nothing else that will be the most optimal configuration for your particular file... even if you're way above consumer norms when it comes to your total open accounts.