@Aahz wrote:
Thr primary purpose of this post is to provide datapoints for the "forum FICO scientists". However, there is also a question/theory/observation at the end that I believe is worthy of discussion.
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MyFICO 3B Report 3/11/16--
Payment History: Perfect - No lates or derogs of any kind
Utility -- 14%
Oldest Account -- 17 Years, 9 Months
AAoA -- 4 Years, 10 Months (TU) / 4 Years, 6 Months (EQ, EX)
Installment Loans -- 4 Open w/ 76% total utility, 5 Closed (EQ/TU) / 7 Closed (EX) (No mortgages)
@Revolving -- 14 Open (5 w/ balance, 2 @ >30%), 9 Closed (EQ/TU) / 7 Closed (EX)
New(?) Credit:
- 3 months: 3 cards
- 6 months: 3 cards (inclusive)
- 12 months: 11 cards & 1 installment (inclusive)
- 24 months: 17 cards & 1 installment (inclusive)
Equifax - 6 inq in 1 year (2 in 3 mos / 2 in 6 mos (inclusive))
FICO® 08 -- 743
FICO® Auto 08 -- 753
FICO® Bankcard 08 -- 742
FICO® 05 -- 734
FICO® Auto 05 -- 712
FICO® Bankcard 05 -- 720
FICO® 09 -- 750
FICO® Auto 09 -- 755
FICO® Bankcard 09 -- 747
Experian - 9 inq in 1 year (3 in 3 mos / 3 in 6 mos (inclusive))
FICO® 08 -- 727
FICO® Auto 08 -- 715
FICO® Bankcard 08 -- 733
FICO® 02 -- 722
FICO® Auto 02 -- 717
FICO® Bankcard 02 -- 692
FICO® 09 -- 724
FICO® Auto 09 -- 720
FICO® Bankcard 09 -- 722
FICO® 03 -- 705
Transunion - 6 inq in 1 year (0 in 3 mos / 1 in 6 mos (inclusive))
FICO® 08 -- 753
FICO® Auto 08 -- 745
FICO® Bankcard 08 -- 753
FICO® 04 -- 747
FICO® Auto 04 -- 712
FICO® Bankcard 04 -- 723
FICO® 09 -- 739
FICO® Auto 09 -- 741
FICO® Bankcard 09 -- 736
Differences between reports not noted above-
- EQ 2 Closed Child Support (as Revolvers)
- EX 2 Closed Child Support (as Installment)
- TU 1 Closed Child Support (as Revolver) & 1 Closed Credit Card
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MyFICO 3B Report 6/13/16--
Payment History: Perfect - No lates or derogs of any kind
Utility -- 15%
Oldest Account -- 18 Years
AAoA -- 4 Years, 6 Months (TU) / 4 Years, 4 Months (EQ, EX)
Installment Loans -- 4 Open w/ 72% total utility, 5 Closed (EQ/TU) / 7 Closed (EX) (No mortgages)
@Revolving -- 16 Open (6 w/ balance, 3 @ >30%), 10 Closed (EQ/TU) / 8 Closed (EX)
New(?) Credit:
- 3 months: 4 cards
- 6 months: 6 cards (inclusive)
- 12 months: 8 cards & 1 installment (inclusive)
- 24 months: 20 cards & 1 installment (inclusive)
Equifax - 4 inq in 1 year (0 in 3 mos / 1 in 6 mos (inclusive))
FICO® 08 -- 737
FICO® Auto 08 -- 744
FICO® Bankcard 08 -- 739
FICO® 05 -- 725
FICO® Auto 05 -- 705
FICO® Bankcard 05 -- 706
FICO® 09 -- 743
FICO® Auto 09 -- 747
FICO® Bankcard 09 -- 740
Experian - 6 inq in 1 year (2 in 3 mos / 4 in 6 mos (inclusive))
FICO® 08 -- 719
FICO® Auto 08 -- 705
FICO® Bankcard 08 -- 724
FICO® 02 -- 725
FICO® Auto 02 -- 699
FICO® Bankcard 02 -- 692
FICO® 09 -- 712
FICO® Auto 09 -- 706
FICO® Bankcard 09 -- 708
FICO® 03 -- 699
Transunion - 5 inq in 1 year (2 in 3 mos / 2 in 6 mos (inclusive))
FICO® 08 -- 744
FICO® Auto 08 -- 743
FICO® Bankcard 08 -- 747
FICO® 04 -- 754
FICO® Auto 04 -- 713
FICO® Bankcard 04 -- 731
FICO® 09 -- 741
FICO® Auto 09 -- 735
FICO® Bankcard 09 -- 739
Differences between reports not noted above-
- EQ 2 Closed Child Support (as Revolvers)
- EX 2 Closed Child Support (as Installment)
- TU 1 Closed Child Support (as Revolver) & 1 Closed Credit Card
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Interesting Reason Codes on my 06/13/16 report-
TU - Positive - You have an established credit history. (18 yrs / AAoA 4yrs 6mths)
EQ/EX - Negative - You have a short credit history. (18 yrs / AAoA 4yrs 4mths)
EQ - Positive - You've limited the use of your available revolving credit. (15%)
EX - Negative - You've made heavy use of your available revolving credit. (15%)
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My question/theory/observation-
My Experian 08 score has consistently been ~20 points lower than my EQ & TU scores since I started carrying balances on some cards. The only significant difference between these reports is that EX shows two accounts as Installments that both EQ & TU show as Revolvers.
I believe that the "How many accounts have balances" portion of the FICO algorithm is taking BOTH open and closed revolvers into account. This would help explain why my EX 08 score is consistently ~20 points lower than my EQ & TU scores as well as how/why 15% utility can be a positive on EQ, but a ngeative on EX.
On my 3/11/16 report EQ & TU showed a balance on 5 of 23 total (open & closed) revolvers (22%)
On my 3/11/16 report EX showed a balance on 5 of 21 total (open & closed) revolvers (24%)
On my 6/13/16 report EQ & TU showed a balance on 6 of 26 total (open & closed) revolvers (23%)
On my 6/13/16 report EX showed a balance on 6 of 24 total (open & closed) revolvers (25%)
Thoughts?
Lower Experian score might relate to higher INQ count - IMO. Child support as installment loans should not hurt score if "loans" are paid and closed. If they were open then balance/original loan is a scoring factor. However, I have no idea how this would be determined for child support payments.
Overall, I think your scores are held down by the QTY of new accounts in the last year. It appears you have a high ratio of open revolving accounts under 1 year age to total open revolving accounts. Not sure of age on the open installment loans.
