Paging any FICO9 analyst

[Meanmchine]

This is the third time over the years that this happened.

 On the day that I go one full year without any apps/inquiries, my Fico9 scores plummets

[GZG]

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@Meanmchine wrote:

This is the third time over the years that this happened.

 On the day that I go one full year without any apps/inquiries, my Fico9 scores plummets

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I wonder if the no new apps mature/thick/no derogs scorecard is tougher on scores than the has new apps/mature/thick/no derogs scorecard

it wouldn't surprise me if it's harder to get higher scores in the "no new apps scorecard" because of all of the extremely stable profiles that haven't applied for credit for years and decades compared to much less stable profiles from the "has new apps scorecard"

only explanation I can reasonably think of

[Patient957]

Interesting.  When was your last new account and was it a revolver or installment?  

Did you get any bump or change in your Fico 8 or Fico 5/4/2 at the same time or did they stay the same?

[Meanmchine]

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@Patient957 wrote:

Interesting.  When was your last new account and was it a revolver or installment?  

Did you get any bump or change in your Fico 8 or Fico 5/4/2 at the same time or did they stay the same?

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EQ8 stayed at 850

EX8 stayed at 842

TU8 ?

Van3 stayed the same

[Thomas_Thumb]

Is the F9 drop transitory or does it remain depressed for more than a month assuming no new credit seeking activity? If short term transitory; it is likely an algorithm glitch that self corrects in the days following a scorecard reassignment.

Curious - how many cards do you have and how many are reporting balances before/after the 12 month age? Also, what are your aggregate and highest card utilization levels?

[Meanmchine]

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@Thomas_Thumb wrote:

Is the F9 drop transitory or does it remain depressed for more than a month assuming no new credit seeking activity?

Curious - how many cards do you have and how many are reporting balances before/after the 12 month age? Also, what are your aggregate and highest card utilization levels?

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It takes awhile  6-9 months to get most of it back

Last new account 2/24

30+ open   1 account $3k bal.   2 accounts of less then $50 reporting

Remember, the day before yesterday, it was an 850 score.  Nothing else occured beside the 1 year mark being reached

In addition to 2 accounts turning 1 year old, 2 inquiries are reporting   1/12  2/24  currently

[Thomas_Thumb]

Strange indeed. Fico 9's new account scorecard may put little or no weight on too many revolving accounts or too few open loans. Once you switch scorecards perhaps you are receiving an F9 penalty for qty of open accounts or ratio of revolving to installment accounts that does not exist with F8. Then the hypothesized F9 penalty for too many revolvers or too high a ratio diminishes over time as AoYA increases.

Some reports will list a couple negative reasons whenever score drops below 850. Unfortunately, the Fico reports require Classic scores to fall below 800 before listing reasons. Do you have access to any reports from CC companies listing reason statements?

* refer to credit scoring primer thread (message 5) suggesting R/I ratio of 3:1 to 4:1 as a preferred range. Not sure Fico looks at such a ratio but my ratio of 5:1 was fine.

My newest card account is 2011 so I can't speak directly to impact on score of a newest account aging to 12 months. I can say lack of any newish accounts were never an impediment for Fico 9 850s in my situation. I "only" have 5 cards plus 1 AU card and 1 installment loan, now closed.

[Meanmchine]

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@Thomas_Thumb wrote:

Strange indeed. Fico 9's new account scorecard may put little or no weight on too many revolving accounts or too few open loans. Once you switch scorecards perhaps you are receiving an F9 penalty for qty of open accounts that does not exist with F8. Then the hypothesized F9 penalty for too many revolvers or too few open installment loans diminishes over time as AoYA increases.

Some reports will list a couple negative reasons whenever score drops below 850. Unfortunately, the Fico reports require Classic scores to fall below 800 before listing reasons. Do you have access to any reports from CC companies listing reason statements?

My newest card account is 2011 so I can't speak directly to impact on score of a newest account aging to 12 months. I can say lack of any newish accounts were never an impediment for Fico 9 850s in my situation. I "only" have 5 cards plus 1 AU card.

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At lease someone still loves me.  Van3 TU

[Thomas_Thumb]

It should. VS3 likes to see a boatload of open revolving accounts - atleast 10 -19.

[SouthJamaica]

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@Meanmchine wrote:

This is the third time over the years that this happened.

 On the day that I go one full year without any apps/inquiries, my Fico9 scores plummets

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I can't imagine why that would occur. I'm not aware of a scorecard change based on inquiries.

I'm not sure what you meant when you said "2 inquiries are reporting 1/12 2/24 currently". Isn't that inconsistent with what you said in your first post, that you've just gone one full year without any inquiries?