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‘ Short Revolving History ‘ / ‘ Long Credit History ‘

Anonymous
Not applicable

Re: ‘ Short Revolving History ‘ / ‘ Long Credit History ‘


@noneofyourbusiness0 wrote:

 

In the primer, you all felt that EQ5 is very sensitive to AWB and TU4 is most sensitive to total number of accounts. That could be relative to the scorecard because my EQ5 gives no AWB codes and TU4 has AWB as code #2.

My EQ5 isn't as sensitive to 100% of accts with balances (4 of 4) - only -2 points lost there. But my TU4 sure is around -14pts. Ex2 is -7pts.

 

Just backing 1 account off of 100% reporting can help a lot with the median mortgage score.

 

Regardless, for EQ 5 I have Revol. Util % at #3and inquiries at #4. Anyone have a feel for:

  • points when the final EQ5 inquiry becomes unscorable on 5/22?  (headed over to master inquiry thread now)
  • Aggregate Revolver Util % threhold(s) for EQ5? 

Dropping the last INQ on EQ, TU, and EX:

 

Happened late December 2020, after my 2 cards (at the time) had reported for the month in the first week. So just INQ changes here.

 

FICO 5

EQ

724

+11

735

[Change]

Short credit history, High revolving balances, Short revolving history, Heavy use of revolving credit

 

Short credit history, High revolving balances, Short revolving history, Seeking credit

FICO 4

TU

728

+6

734

 

Short credit history, No recent loan activity, Recently opened new credit account, High revolving balances

FICO 2

EX

711

+13

724

[Change]

Short credit history, Short revolving credit history, High revolving balances, Too many accounts with balances

 

Short credit history, Short revolving credit history, Seeking credit, High revolving balances

Message 71 of 79
Birdman7
Super Contributor

Re: ‘ Short Revolving History ‘ / ‘ Long Credit History ‘


@noneofyourbusiness0 wrote:

Also, I had given up on EQ5 because it has historically been awful due to a $66 collection (6/15/16 DoFD, so will be 5 years next month) only reported on EQ (and only EQ5 versions specifically due to being under $100). Due to the collection, I've always ignored it for mortgage purposes because it's usually in the low to mid 600s.

 

I ran a 3B today just for good measure and it's at 715. Can you believe that EQ5 with a collection (collection as reason code #1) is only 4 points lower than my TU4 with no collection?

 

In the primer, you all felt that EQ5 is very sensitive to AWB and TU4 is most sensitive to total number of accounts. That could be relative to the scorecard because my EQ5 gives no AWB codes and TU4 has AWB as code #2.

 

Regardless, for EQ 5 I have Revol. Util % at #3and inquiries at #4. Anyone have a feel for:

  • points when the final EQ5 inquiry becomes unscorable on 5/22?  (headed over to master inquiry thread now)
  • Aggregate Revolver Util % threhold(s) for EQ5? 

 

5.5.21 Reason Codes screenshot.JPG


@noneofyourbusiness0 very interesting data. And yes each Scorecard is weighted  differently for its Scoring factors, so we typically are generalizing among the versions unless identify specific Scorecards.

 

True enough, the mortgage section is still in its infancy and needs to grow and may need some corrections. We start with existing knowledge and then we fact check it and improve it. Maybe you are correct it is only certain Scorecards that are especially sensitive to AWB on EQ5? We need to get to the bottom of it whatever it is.

 

unfortunately the master inquiry thread does not catalog HP point cost. That would be a good project thread for someone. It would have to be organized by scorecard.

 

Either way I did drop my last one on a new account Scorecard recently. I can go back and try to look and see what it was on my card as well. 

Message 72 of 79
noneofyourbusiness0
New Contributor

Re: ‘ Short Revolving History ‘ / ‘ Long Credit History ‘

Thanks @Anonymous. Very helpful.

 

The general thought that thicker and/or more mature profiles are less (correction) suceptible to new inquiries and becoming unscorable.

 

My EX2 went +6 and my TU4 went only +2. @Curious_George2 had similar results on the same scorecard as me.

Message 73 of 79
Anonymous
Not applicable

Re: ‘ Short Revolving History ‘ / ‘ Long Credit History ‘


@noneofyourbusiness0 wrote:

Thanks @Anonymous. Very helpful.


Hey, your data is too! Nice!

 

@Birdman7: I'd really like to see what happens on your scorecard to the mortgage scores when dropping that last inquiry. Your profile has been pretty resilient so far. (Thinking of that spree last year.)

Message 74 of 79
Curious_George2
Established Contributor

Re: ‘ Short Revolving History ‘ / ‘ Long Credit History ‘


@Birdman7 wrote:

@noneofyourbusiness0 wrote:

Also, I had given up on EQ5 because it has historically been awful due to a $66 collection (6/15/16 DoFD, so will be 5 years next month) only reported on EQ (and only EQ5 versions specifically due to being under $100). Due to the collection, I've always ignored it for mortgage purposes because it's usually in the low to mid 600s.

 

I ran a 3B today just for good measure and it's at 715. Can you believe that EQ5 with a collection (collection as reason code #1) is only 4 points lower than my TU4 with no collection?

 

In the primer, you all felt that EQ5 is very sensitive to AWB and TU4 is most sensitive to total number of accounts. That could be relative to the scorecard because my EQ5 gives no AWB codes and TU4 has AWB as code #2.

 

Regardless, for EQ 5 I have Revol. Util % at #3and inquiries at #4. Anyone have a feel for:

  • points when the final EQ5 inquiry becomes unscorable on 5/22?  (headed over to master inquiry thread now)
  • Aggregate Revolver Util % threhold(s) for EQ5? 

 

5.5.21 Reason Codes screenshot.JPG


@noneofyourbusiness0 very interesting data. And yes each Scorecard is weighted  differently for its Scoring factors, so we typically are generalizing among the versions unless identify specific Scorecards.

 

True enough, the mortgage section is still in its infancy and needs to grow and may need some corrections. We start with existing knowledge and then we fact check it and improve it. Maybe you are correct it is only certain Scorecards that are especially sensitive to AWB on EQ5? We need to get to the bottom of it whatever it is.

 

unfortunately the master inquiry thread does not catalog HP point cost. That would be a good project thread for someone. It would have to be organized by scorecard.

 

Either way I did drop my last one on a new account Scorecard recently. I can go back and try to look and see what it was on my card as well. 


I've still got an inquiry on EQ until June, so I'll have to sit this one out. 


Message 75 of 79
Birdman7
Super Contributor

Re: ‘ Short Revolving History ‘ / ‘ Long Credit History ‘


@Anonymous wrote:

@noneofyourbusiness0 wrote:

Thanks @Anonymous. Very helpful.


Hey, your data is too! Nice!

 

@Birdman7: I'd really like to see what happens on your scorecard to the mortgage scores when dropping that last inquiry. Your profile has been pretty resilient so far. (Thinking of that spree last year.)


@Anonymous you mean the remaining one on Experian or the one I just dropped on Equifax?

Message 76 of 79
Anonymous
Not applicable

Re: ‘ Short Revolving History ‘ / ‘ Long Credit History ‘


@Birdman7 wrote:

@Anonymous wrote:

@noneofyourbusiness0 wrote:

Thanks @Anonymous. Very helpful.


Hey, your data is too! Nice!

 

@Birdman7: I'd really like to see what happens on your scorecard to the mortgage scores when dropping that last inquiry. Your profile has been pretty resilient so far. (Thinking of that spree last year.)


@Anonymous you mean the remaining one on Experian or the one I just dropped on Equifax?


Both! Because you're definitely at the far end of the scorecard progression line. I was at the complete opposite end before 3yr0mo AoOA.

Message 77 of 79
Birdman7
Super Contributor

Re: ‘ Short Revolving History ‘ / ‘ Long Credit History ‘

I don’t know if I’ll be able to isolate the one I just dropped, but I think I’ll be able to isolate the upcoming one.
Message 78 of 79
noneofyourbusiness0
New Contributor

Re: ‘ Short Revolving History ‘ / ‘ Long Credit History ‘

I have a last inquiry dropping from EQ5 on 5/22/21.

Message 79 of 79
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