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SSL Technique Effect on FICO 8 and Mortgage Scores

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Established Contributor

SSL Technique Effect on FICO 8 and Mortgage Scores

(Learn all about SSL (Share Secure Loan) here: https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Adding-an-installment-loan-the-Share-Sec... )

 

From 1 SSL and no other accounts to a closed SSL and 2 revolving accounts over a 2 month timespan. (Non-derogatory, non-delinquency, thin file bin/scorecard/bucket.)

 

I can't tell whether EX FICO 2 loves both the loan closure and new revolving accounts, or just really, really loves new revolving accounts at low utilization alone.

 

(Sorry about the formatting...Lithium forum software won't let me use CSS3 or even colspan, rowspan, or style tags in HTML.)

 

 

mF 1B

 Δ 

CCT 3B

 Δ 

mF 3B

 Δ 

mF 3B

 Δ 

mF 3B

 

 

 

Loan utilization changed from 17% to 8.47%

 

1 new inq at TU on 12/20, now 2 under 1yr

 

I only had a credit score for 6 months at this point! AoOA 1 yr

 

1 new inq at EX/EQ on 12/23 after the CCT 3B report

 

Loan closed!

 

2 new revolving accounts

 

1 of 2 cards reporting 2% util with 1% total util.

 

Both cards (100%) reporting 7% util with 7% total util.

 

1 inq aged past 1 year on TU

 

The -3 on EX F8 happened when Card 1 reported a change from 2% to 7% util, and 3 days before Card 2 statement closing (0 to 7% util).

 

  

12/04

Δ

12/23

Δ

12/31

Δ

01/18

Δ

02/08

F2

EX

 

 

691

-16

675

+52

727

-6

721

F4

TU

673

 

 

 

681

+5

686

-4

682

F5

EQ

 

 

 

 

681

+15

696

-5

691

F8

EQ

 

 

750

-20

730

-46

684

-3

681

F8

TU

666

+62

728

 

728

-39

689

+6

695

F8

EX

 

 

748

-19

729

-30

699

-3

696

1 REPLY 1
Highlighted
Super Contributor

Re: SSL Technique Effect on FICO 8 and Mortgage Scores


@CassieCard wrote:

(Learn all about SSL (Share Secure Loan) here: https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Adding-an-installment-loan-the-Share-Sec... )

 

From 1 SSL and no other accounts to a closed SSL and 2 revolving accounts over a 2 month timespan. (Non-derogatory, non-delinquency, thin file bin/scorecard/bucket.)

 

I can't tell whether EX FICO 2 loves both the loan closure and new revolving accounts, or just really, really loves new revolving accounts at low utilization alone.

 

(Sorry about the formatting...Lithium forum software won't let me use CSS3 or even colspan, rowspan, or style tags in HTML.)

 

 

mF 1B

 Δ 

CCT 3B

 Δ 

mF 3B

 Δ 

mF 3B

 Δ 

mF 3B

 

 

 

Loan utilization changed from 17% to 8.47%

 

1 new inq at TU on 12/20, now 2 under 1yr

 

I only had a credit score for 6 months at this point! AoOA 1 yr

 

1 new inq at EX/EQ on 12/23 after the CCT 3B report

 

Loan closed!

 

2 new revolving accounts

 

1 of 2 cards reporting 2% util with 1% total util.

 

Both cards (100%) reporting 7% util with 7% total util.

 

1 inq aged past 1 year on TU

 

The -3 on EX F8 happened when Card 1 reported a change from 2% to 7% util, and 3 days before Card 2 statement closing (0 to 7% util).

 

  

12/04

Δ

12/23

Δ

12/31

Δ

01/18

Δ

02/08

F2

EX

 

 

691

-16

675

+52

727

-6

721

F4

TU

673

 

 

 

681

+5

686

-4

682

F5

EQ

 

 

 

 

681

+15

696

-5

691

F8

EQ

 

 

750

-20

730

-46

684

-3

681

F8

TU

666

+62

728

 

728

-39

689

+6

695

F8

EX

 

 

748

-19

729

-30

699

-3

696


My personal experience has been that FICO 8 reacts strongly to installment utilization percentage, TU FICO 4 reacts slightly, and EX FICO 2 and EQ FICO 5 shrug it off.


Total revolving limits 644000 (568000 reporting)
FICO 8's EQ 710 TU 733 EX 717



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