Definitely rebucketed. And iirc @SouthJamaica experimented with auto loan thresholds a few years back and I seem to remember 79% or 78% being one of them... dont know why it stuck in my mind. Maybe we could get clarification. Or you could search the thread �
@805orbust wrote:Definitely rebucketed. And iirc @SouthJamaica experimented with auto loan thresholds a few years back and I seem to remember 79% or 78% being one of them... dont know why it stuck in my mind. Maybe we could get clarification. Or you could search the thread �
I definitely did test it, and did not find anything interesting until I got it down to 9%, which was like rocket fuel for my FICO 8 score.
As I went down certain imagined thresholds, there were possible slight gains, but it was not possible to determine whether they were solely attributable to the installment utilization decrease.
What amazed me was that I continually got an error code indicating that my installment balances were too high, even when it was down to 14%, which I would consider pretty low, and that the error code did not go away until I got down to 9%.
@SouthJamaica wrote:
@805orbust wrote:Definitely rebucketed. And iirc @SouthJamaica experimented with auto loan thresholds a few years back and I seem to remember 79% or 78% being one of them... dont know why it stuck in my mind. Maybe we could get clarification. Or you could search the thread �
I definitely did test it, and did not find anything interesting until I got it down to 9%, which was like rocket fuel for my FICO 8 score.
As I went down certain imagined thresholds, there were possible slight gains, but it was not possible to determine whether they were solely attributable to the installment utilization decrease.
What amazed me was that I continually got an error code indicating that my installment balances were too high, even when it was down to 14%, which I would consider pretty low, and that the error code did not go away until I got down to 9%.
Yeah, even my original data showed that reason code stayed till 9%.
I'm still convinced on my old data that there's a breakpoint somewhere higher, worth roughly 1/3 the points but financially I've been unable to get down to that level playing with mortgages. Couple more months either way and I could've maybe sorted it but c'est la vie. Need a pretty fixed file to really get it, and I only found it the first time because I was flatlined in a dirty scorecard prepping for a mortgage and it doesn't get any more fixed than that really.
Clean files just have more volatility especially when doing anything credit related (revolving util changes, new accounts, etc). I'm basically useless with 2 mortgages now, one of which is in process of being refinanced even so back to 100% there too for getting back down to where I was pre-Houston mortgage, but I got datapoints down to 69% aggregate and hadn't found anything but the old data showed one between north of there and 50 and some other people's data conjoined looks like 66% is the likely target but someone else will have to get it anytime in the next few years (until that Cali condo gets sold and I'm more likely to annihlate the remaining debt I have instead of putting yet more money into the market).
Back on topic, @Anonymous 10-15 years? Where'd that conventional wisdom come in? Maybe searching for the 850 but for the new file scorecards thought everyone was in agreement it was around the 2-3 year mark depending on score. Don't know that we ever got that on FICO 04 (EQ/TU are the only ones that matter), though if we have a 3 year datapoint here and Cassie has the 2 year one those are fairly concrete on them... though if I had to guess based on my own experience with EQ FICO 5, it's probably longer than any other score. FICO went through a pretty gnarly shift from 98 -> NG -> 04 and that latter score went Old Testament seemingly on a bunch of things. FICO 8 was a loosening on that front, and FICO 9 is a further refinement on that.
@Anonymous wrote:
@Revelatewe’ve been wondering where that line is forever and everybody thought 10 or 15 years even TT said 10 to 12 years was his guess, if I recall correctly. I’ve always theorized it was lower, but few seemed to agree that I recall.
The forum is full of threads with people saying 10, 15, even 20 years.
I’m just glad we found it.
Credit scoring, clearly, loses it's resolution over such great time periods, why would it be 10, 15, 20 years to get out of the new file scorecard when even collections and most other derogatory information is gone in 7? Dunno I've occasionally been guilty of sloppy thinking too but this one is a new one for me, but there were times that I admittedly sort of ignored this board and I don't even read it fully currently so it's possible I just missed it.
+1 on it's being sorted.