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Oldest account hits 3 yrs scores drops up to 22 points

Frequent Contributor

Re: Oldest account hits 3 yrs scores drops up to 22 points

When my oldest account turned 3 years I saw a similar drop and was told it was due to re-bucketing. I'm curious to see what the effect will be when it turns 4 years next month.... 

Message 21 of 25
Frequent Contributor

Re: Oldest account hits 3 yrs scores drops up to 22 points

Rebucketing, and losing points, would indicate that, consumer habits are less than ideal, compared with other consumers in that bucket.

So, it seems to me like it's possible that recently obtaining a mortgage can cause one's scores to drop, once they are moved up the the big leagues, as it were.

Once the mortgage reports for a year, I'd gather that you would regain those points.

But, I'm just spitballing, here. There could be something else being overlooked.
Message 22 of 25
Super Contributor

Re: Oldest account hits 3 yrs scores drops up to 22 points

That would suggest though that the presence of a mortgage is a factor in scorecard assignment, which it is not.

Message 23 of 25
Super Contributor

Re: Oldest account hits 3 yrs scores drops up to 22 points

It also would require a new mortgage to be on a delay timer of 5 to 6 months before the effect is added to the score.

I am looking forward to the listing of all accounts from the OP.
High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812

Delta Reserve and CSP Jan 2018, no more 5/24 worries... unless new Chase Marriott/SPG replacement is enticing...meh, turns out not. [unless a 100k points SPG Luxury Upgrade appears... well lookie here...]
Message 24 of 25
Moderator Emeritus

Re: Oldest account hits 3 yrs scores drops up to 22 points

While I'm definitely in agreement on checking the reports, being rebucketed isn't outside of the realm of possibility.

 

 

I think we're all pretty sold on the fact that age of oldest is a scorecard segmentation metric, and somewhere in there you transition out of the new / thin file score card to the mature credit report scorecards, I just would've figured it would've been prior to that.

 

That might explain the somewhat freakishly high 1-2 year timelines on FICO 8 for new files, it'd be an interesting experiment to run if I had a new file to play with for perhaps longer than the "how long to 800 does it really take?" that I was originally amused by.  Not sure I have that kind of patience really haha, but the fact that it happened to both you and your wife and presumably the mortgage is the only shared account (?) from your description, it certainly points to your shifting scorecards.

 

Do you get real reason codes from CCT or your other services?  That'd be worth a look but FICO 8 reason codes suck across the industry in terms of how many you get so you might not get much.  

 

 




        
Message 25 of 25