Oldest card clocks 3yrs and Fico8 score drops 22 points. can some pls explain why???

[Anonymous]

And by the way positive reason codes are meaningless.

[Credit_Flavours]

@Anonymous 

No, the Fico2 wasn't affected but the Fico3 bankcard increased by 7 points. See below:

Here are the before and after of the Fico8 auto and bankcard variants

[Anonymous]

Thank you for posting the information. I noticed score 3 dropped the negative reason code “short revolving history.” And gained 7 points.

I wish we could see what the fifth negative reason code was on the score 8 variants. I admit it does suspiciously look like a scorecard reassignment. That’s assuming you have went through line by line and verified there’s no differences between the dates and it happened on the first which makes sense for aging.

And to explain it to you, it basically means that you’re moving from being compared against one group of people to being compared to a group of people with better credit. Kind of like reaching the top of one ladder and starting again at the bottom of a higher ladder.

Just because you switch scorecards on score 8 does not mean that you do so on the other versions. For instance score 2 seems to possibly have a threshold at two years. Possibly you have found score 8 at three years. Can you verify that you do not have any loans or other accounts open or closed that are older? If so, please give me the information on them.

On score 3 I don’t know it could’ve just been an award for hitting three years oldest revolving account, but score 8 I don’t know if I can think of another reason.

[Credit_Flavours]

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@Anonymous wrote:
Thank you for posting the information. I noticed score 3 dropped the negative reason code “short revolving history.” And gained 7 points.

I wish we could see what the fifth negative reason code was on the score 8 variants. I admit it does suspiciously look like a scorecard reassignment. That’s assuming you have went through line by line and verified there’s no differences between the dates and it happened on the first which makes sense for aging.

And to explain it to you, it basically means that you’re moving from being compared against one group of people to being compared to a group of people with better credit. Kind of like reaching the top of one ladder and starting again at the bottom of a higher ladder.

Just because you switch scorecards on score 8 does not mean that you do so on the other versions. For instance score 2 seems to possibly have a threshold at two years. Possibly you have found score 8 at three years. Can you verify that you do not have any loans or other accounts open or closed that are older? If so, please give me the information on them.

On score 3 I don’t know it could’ve just been an award for hitting three years oldest revolving account, but score 8 I don’t know if I can think of another reason.

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Thanks for the analysis. On the bolded, this revolver is my oldest account, closed or open.

I guess I just have to allow time for my accounts to age especially the 3 youngest revolvers which are at 4months now. My CC UTI has already bottomed out so there's nothing I can do there.

Also while I have you, can you confirm if the 79% mark is a threshold for instalment loans? My auto loan is only 13% paid down which always triggers that "high loan balance..." code, so I am thinking of at least paying it down another 8% to maybe get back some points short-term.

Thanks again.

[Anonymous]

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@Credit_Flavours wrote:

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@Anonymous wrote:
Thank you for posting the information. I noticed score 3 dropped the negative reason code “short revolving history.” And gained 7 points.

I wish we could see what the fifth negative reason code was on the score 8 variants. I admit it does suspiciously look like a scorecard reassignment. That’s assuming you have went through line by line and verified there’s no differences between the dates and it happened on the first which makes sense for aging.

And to explain it to you, it basically means that you’re moving from being compared against one group of people to being compared to a group of people with better credit. Kind of like reaching the top of one ladder and starting again at the bottom of a higher ladder.

Just because you switch scorecards on score 8 does not mean that you do so on the other versions. For instance score 2 seems to possibly have a threshold at two years. Possibly you have found score 8 at three years. Can you verify that you do not have any loans or other accounts open or closed that are older? If so, please give me the information on them.

On score 3 I don’t know it could’ve just been an award for hitting three years oldest revolving account, but score 8 I don’t know if I can think of another reason.

---

Thanks for the analysis. On the bolded, this revolver is my oldest account, closed or open.

I guess I just have to allow time for my accounts to age especially the 3 youngest revolvers which are at 4months now. My CC UTI has already bottomed out so there's nothing I can do there.

Also while I have you, can you confirm if the 79% mark is a threshold for instalment loans? My auto loan is only 13% paid down which always triggers that "high loan balance..." code, so I am thinking of at least paying it down another 8% to maybe get back some points short-term.

Thanks again.

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@Credit_Flavours yes I know that's your oldest revolver, but I need to know if you have any other revolvers or other accounts, even if they're closed that are older?

assuming your profile is clean, those revolvers you have at 4 months old have caused you to be in a new account scorecard which has taken 10 or 15 points and you will get them back when they turn 12 months old.

No 79% as meaningless is it comes to installment utilization. We know the big one is at 9% and we've got a pretty good evidence of one at 65%, everything else is just isolated and unconfirmed. I wouldn't waste my money unless I could get it to 65%. Then it's probably roughly 10 points, depending on scorecard.

[Revelate]

TBH we've had a few other datapoints suggesting similar over the years all at the 3 year mark for AOOA, though admittedly I don't think we ever had an oldest tradeline being an installment loan hitting that mark.

I've assumed it was simply the switch from new file to some other scorecard as it has been markedly consistent.

If you have the 3B service look at the FICO 8 BC and AU scores, the reason codes are pretty close and they might have shifted which might shed some light on it as they're derivative scores of the main FICO 8 Classic scores.  Yeah I hate the fact that myFICO and elsewhere suppress reason codes for FICO 8; I hate being treated like a child in pretty much anything and this is an example of such.

[Credit_Flavours]

@Anonymous No, I do not have any other older account; loan or revolver either closed or open. This is my oldest account.

@Revelate I posted before and after reason codes of the Fico8 variants in message 12 above.

[Anonymous]

Well it appears the threshold for AoOA for score 8 maybe 3 years. And it looks like it’s 2 years for EX2, Maybe even the 2004 versions.

The common wisdom has always been 10 to 15 years, and I’ve always doubted that because the logistic regression only looks at 2 or 3 years. I don’t see how it could be anything else it’s not thick/thin, it’s not new account, it’s not clean/dirty. What else could it be?

[Anonymous]

@Revelate has a good memory.

It happened to two other members at exactly 3yrs0mo: Poppa and Scuderia. See here. (Scuderia's report of it is in message #21).

( @Anonymous : This is what I was referencing in the other thread about the POOR to FAIR change. This is Poppa's report of that change.)

Both of those members got to 800 in 2yr0mo or less. There may be other member reports of it in that thread as well.

[EDIT: Yes there are others. Read the whole thread.]

[Anonymous]

And I bet the first account was a revolver.