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Hey All -
So, February 1st will bring 2 (known) minor changes to my EX report:
(1) AoOA will hit the 5 year mark.
(2) 1 inquiry (out of a total of 6) will hit the 1 year mark.
No balance updates will occur between now and then, so assuming no other, unexpected changes - could this be an opportunity for a small score increase? Anyone have experience with an AoOA 5 year threshold? Anyone have experience with only 1 inquiry out of several reaching the 1 year mark?
I am not expecting much, if anything at all - but I'm in the Garden, my scores are stable, and I'm using this time to try to figure out the little things.
*TU and EQ have a different (wrong) date for the oldest account so it will not hit the 5 year mark on those two reports till March - which is why I'm only referring to EX.
Thanks!
I'm not sure if 5-6 inquiries are binned together or not. If so, you wouldn't gain any points in going from 6 to 5. If they are, you could see maybe 3-6 points come back. As for AAoA, jury is out on that one too. I would think if it was indeed a threshold, you'd see 5-10 points from crossing it. Just a guess though.
Thanks for the input. If I do receive any points, I'll monitor EQ and TU in March since the only change at that point should be the AoOA. That way, I should be able to isolate the cause and say with some level of certainty whether AoOA at 5 years is a threshold. Thanks again!
@Anonymous wrote:I'm not sure if 5-6 inquiries are binned together or not. If so, you wouldn't gain any points in going from 6 to 5. If they are, you could see maybe 3-6 points come back. As for AAoA, jury is out on that one too. I would think if it was indeed a threshold, you'd see 5-10 points from crossing it. Just a guess though.
@thornback wrote:Hey All -
So, February 1st will bring 2 (known) minor changes to my EX report:
(1) AoOA will hit the 5 year mark.
(2) 1 inquiry (out of a total of 6) will hit the 1 year mark.
No balance updates will occur between now and then, so assuming no other, unexpected changes - could this be an opportunity for a small score increase? Anyone have experience with an AoOA 5 year threshold? Anyone have experience with only 1 inquiry out of several reaching the 1 year mark?
I am not expecting much, if anything at all - but I'm in the Garden, my scores are stable, and I'm using this time to try to figure out the little things.
*TU and EQ have a different (wrong) date for the oldest account so it will not hit the 5 year mark on those two reports till March - which is why I'm only referring to EX.
Thanks!
AoOA is not a Fico scoring factor. It is a scorecard assignment segmenter. If an increase moves you to a different scorecard your score may change is due to a shift in weighting of the factors used in scoring and the assigned min/max scores associated with the scorecard.
TT, do we have any data on what different AoOA values result in which score card assignments?
@Thomas_Thumb wrote:
@thornback wrote:Hey All -
So, February 1st will bring 2 (known) minor changes to my EX report:
(1) AoOA will hit the 5 year mark.
(2) 1 inquiry (out of a total of 6) will hit the 1 year mark.
No balance updates will occur between now and then, so assuming no other, unexpected changes - could this be an opportunity for a small score increase? Anyone have experience with an AoOA 5 year threshold? Anyone have experience with only 1 inquiry out of several reaching the 1 year mark?
I am not expecting much, if anything at all - but I'm in the Garden, my scores are stable, and I'm using this time to try to figure out the little things.
*TU and EQ have a different (wrong) date for the oldest account so it will not hit the 5 year mark on those two reports till March - which is why I'm only referring to EX.
Thanks!
AoOA is not a Fico scoring factor. It is a scorecard assignment segmenter. If an increase moves you to a different scorecard your score may change is due to a shift in weighting of the factors used in scoring and the assigned min/max scores associated with the scorecard.
Arghh -- is this the "rebucketing" thing? So does that mean I could, potentially, lose points? What you say here makes total sense but I've read things about rebucketing causing folks to actually drop a few points because they are now at the bottom of a higher barrel, sort to speak. Thank you!
Yes, Although the official term for segmentation is scorecards, people like to use the slang term "buckets".
It is hard to confirm where Fico draws the line on age of file (AoOA) for segmentation but, it is likely higher than 5 years - perhaps 10 years.
Gotcha. OK. Thank you so much for the information - greatly appreciated.