Today I went from a young to a mature scorecard and I lost 16 points on FICO 8. I haven't checked any of the other FICO models yet.
the interesting part is that I lost 45 points on vantage score. Which doesn't really matter but I did find it interesting because I didn't know that vantage score had the same scorecards as FICO. I wasn't really expecting that.
I know we discussed this and I told you I would let you know the outcome
The only hint I have is from chases "credit journey" as they break down the score changes and actually assign a point loss to each individual change.
for example this time it said my point loss was because "I no longer have new accounts (since 2 accounts are now over 2 years of age) however I think we know that an account aging up past 2 years would not cause a point loss by itself, but perhaps a scorecard change as a result of the 2 year threshold could explain the loss
Also, here are Some Other examples of Chase assigning points to each reason from my previous changes
- you have 1 account over 20% utilization causing a 5 point loss
- you have 1 less inquiry causing a 3 point gain.
I usually never put any stock in this sort of thing, but perhaps the accounts aging caused a scorecard reassignment
every time I'm expecting a score change (especially one that I'm extra interesting about) I always do everything I can to get rid of every possible variable.
in this case I had very recent score pulls from before and after. Minimizing any other potential changes. In this specific instance no cards reported between before and after. The only change being the calendar turning over to September
Furthermore as mentioned Chase gets pretty much every potential change between each pull and assigns each a point value (where other outlets only provide 1 reason)
So for example, Credit Karma might only say "increased utilization" but In reality you had 10 other changes that also happened, but they only provide 1 reason.
I've seen as many as 5-6 changes with Chase credit journey with a point value assigned to each change provided. (I don't give any weight to the point value assigned to each change, but I do believe it gives you most if not every change)
the only changes it doesn't say are specific scorecard changes as those are proprietary. So it won't say "you changed scorecards". But it will say "you're account went over 3 years and you lost 30 points"
is it possible there's some change I'm not seeing? Sure? But I have no idea what it would be
Scorecards:
VantageScore (3.0)
Fico 98 (EX score 2) and Fico 04 (EQ score 5, TU score 4, EX score 3) algorithm
Below are links to VS articles describing VS 3.0 scorecards, VS 4.0 scorecards and VS 4.0 trending.
https://cdn.vantagescore.com/uploads/2022/01/VantageScore3-0_WhitePaper.pdf
https://cdn.vantagescore.com/uploads/2022/09/VantageScore-4.0-UserGuide_abr_Sep22.pdf
I would imagine it's just like anyone else, They can't tell you specifics on which scorecard you are in or anything like that. But they absolutely give you more than one reason on why your score changed so you can see the entire picture.
and they even take it a step further by attributing point losses/gains for each specific reason. again I don't give any weight to to the points breakdown. But my main point is this
this time they said the point loss was due to accounts aging up. If there had been more reasons why my score changed, they would have included those reasons as well. (Excluding anything proprietary)
so for example, if my accounts aged up and a late was introduced, and my utilization went up, and I had a new inquiry it would include all those reasons. (Again hypothetically)
