@Anonymous , I'm assuming this ratio affects Clean and Dirty scorecards (perhaps varying amounts)?
I experienced an unexplained loss of around 6 points across all 3 bureaus Fico 8 scores when I paid off 1 of 2 auto loans a few months ago. There were some other variants changed as well. I was planning on posting about it to see if anyone knew why the drop occurred, but Covid reared its ugly head.
I'll post DP's a bit later.
Posting some DP's for what may be related to the topic. I had a mysterious drop in my Fico scores when paying off 1 of 2 installment loans. My installment loan age dropped by 1 month, but the AGG Installment UTI improved when the payoff occurred (so if anything, the AGG UTI should have had a postive effect rather than negative).
Loan reported as open on 8/19, then reported as closed and PIF on 8/20. That was the only change that occurred until the first couple of weeks into September. I'm including 9/1 info as well to show the change in age of accounts was not the reason for the score drop (scores were the same on 9/1 as on 8/20).
I could only isolate EX scores for this sole change. EQ and TU had other things change when this loan closed, so I can't isolate just the loan for those bureaus.
I have 4 revolvers and 1 AU revolver.
Went from 2 open installments to 1 open installment.
Went from 2 closed installments to 3 closed installments.
Practicing AZEO and had a tiny $10 balance on the AU to avoid the AU AZ penalty.
No scoreable inquiries.
BK7 in 2012
ETA: There was a change to my Negative reason codes (Positive codes remained the same):
On 8/19
- Collection And/Or PR
- Short Account History
On 8/20
- Collection And/Or PR
- Few Accounts Paid On Time
@Anonymous wrote:
@Anonymous wrote:So, I saw in a fico slide that the algorithm considers the ratio in the Mix category.
You always find the best slides.
@Anonymous I've got a great Technical Advisor 😉
@Duke_Nukem wrote:Posting some DP's for what may be related to the topic. I had a mysterious drop in my Fico scores when paying off 1 of 2 installment loans. My installment loan age dropped by 1 month, but the AGG Installment UTI improved when the payoff occurred (so if anything, the AGG UTI should have had a postive effect rather than negative).
Loan reported as open on 8/19, then reported as closed and PIF on 8/20. That was the only change that occurred until the first couple of weeks into September. I'm including 9/1 info as well to show the change in age of accounts was not the reason for the score drop (scores were the same on 9/1 as on 8/20).
I could only isolate EX scores for this sole change. EQ and TU had other things change when this loan closed, so I can't isolate just the loan for those bureaus.
I have 4 revolvers and 1 AU revolver.
Went from 2 open installments to 1 open installment.
Went from 2 closed installments to 3 closed installments.
Practicing AZEO and had a tiny $10 balance on the AU to avoid the AU AZ penalty.
No scoreable inquiries.
BK7 in 2012
ETA: There was a change to my Negative reason codes (Positive codes remained the same):
On 8/19
- Collection And/Or PR
- Short Account History
On 8/20
- Collection And/Or PR
- Few Accounts Paid On Time
@Duke_Nukem forgive me if I'm wrong, but I think you misunderstand when we say aging related changes occur on the first. That's only organic ones meaning caused by aging of your accounts naturally.
When you open a new account and it reports, the day it reports it changes your ages and so that can be part of the point change or affect the point change.
But based on your negative reason code change, I have a theory: since your profile is dirty, it's looking for a minimum number of active non-derogatory accounts. You've had that until you closed the loan. Now that it's closed and no longer open and active, it's not counting towards your active and current accounts. I don't know if the code disappeared or just moved down. That's my theory.