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So my FICO8 is capped at 774 not even AZEO helps (was: Effect of one inquiry on FICO8 and FICO2)

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Established Contributor

So my FICO8 is capped at 774 not even AZEO helps (was: Effect of one inquiry on FICO8 and FICO2)

Some data to share:

Today my only inquiry aged off my EX report (ie, hit 12m). I have 10 open and 4 closed accounts, oldest 4y8m AAoA 3y5m and very low utilization (under 1%).

No other changes on my report between yesterday and today.

EX FICO8 771 to 774
EX FICO2 786 to 797

Per CCT

 

UPDATE: See my recent post on the thread (page 4 for me). I achieved AZEO on my account and my score is still 774. 


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Last Inq 06/2020
46 REPLIES 46
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Established Contributor

Re: Effect of one inquiry on FICO8 and FICO2

Interestingly it doesn't look like there was any score change for newest account reaching 1 year.

I opened two cards with the inquiry that just aged off, but the cards both have an April 1 date on EX (even though they were later in April).

Between end of March and beginning of April there way no change in my FICO8, it was 771 before and after April 1.

So whatever new account penalty exists other than the inquiry itself looks like it wears off earlier than a year or else doesn't actually exist.

Didn't look at my FICO2 unfortunately so can't speak to whether it was impacted.

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Last Inq 06/2020
Message 2 of 47
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Re: Effect of one inquiry on FICO8 and FICO2


@Canadian-In-Seattle wrote:

So whatever new account penalty exists other than the inquiry itself looks like it wears off earlier than a year or else doesn't actually exist.


Two things.  One, an inquiry does not age off of your report at 12 months.  It becomes unscoreable at 365 days yes, but will remain on your report for another year.

 

Second your statement I quoted above definitely is not the case.  AoYA moving from < 12 months to 12+ months is a significant change and one that typically results in a 15-20 point FICO score gain.  Relative to the (say) 4-5 point change associated with an inquiry, the AoYA threshold you mentioned is far more significant.  If your score did not approve on the 1st of the month when your AoYA reached 12 months either there must be an error in your calculation, or your profile is simply not reacting (for whatever reason) to this event like we've come to expect.  My guess is that there was an adverse scoring event that happened at the same relative time that masked your gain associated with the positive AoYA threshold crossing.

Message 3 of 47
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Senior Contributor

Re: Effect of one inquiry on FICO8 and FICO2


@Canadian-In-Seattle wrote:
Some data to share:

Today my only inquiry aged off my EX report (ie, hit 12m). I have 10 open and 4 closed accounts, oldest 4y8m AAoA 3y5m and very low utilization (under 1%).

No other changes on my report between yesterday and today.

EX FICO8 771 to 774
EX FICO2 786 to 797

Per CCT

Was this inquiry tied to a new account as opposed to something like a CLI? Do you still have any new accounts under 12 months age as would be the case if a new account HP was pulled from a different CRA? 

 

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 4 of 47
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Re: Effect of one inquiry on FICO8 and FICO2


@BrutalBodyShots wrote:

@Canadian-In-Seattle wrote:

So whatever new account penalty exists other than the inquiry itself looks like it wears off earlier than a year or else doesn't actually exist.


Two things.  One, an inquiry does not age off of your report at 12 months.  It becomes unscoreable at 365 days yes, but will remain on your report for another year.

 

Second your statement I quoted above definitely is not the case.  AoYA moving from < 12 months to 12+ months is a significant change and one that typically results in a 15-20 point FICO score gain.  Relative to the (say) 4-5 point change associated with an inquiry, the AoYA threshold you mentioned is far more significant.  If your score did not approve on the 1st of the month when your AoYA reached 12 months either there must be an error in your calculation, or your profile is simply not reacting (for whatever reason) to this event like we've come to expect.  My guess is that there was an adverse scoring event that happened at the same relative time that masked your gain associated with the positive AoYA threshold crossing.


Certainly I was hoping for and expecting more than 3 points from 2 accounts going >12m and the last inq aging past 12 months. I was kind of hoping I would see my score get up into the 780's, given the mortgage app is coming up. But it didn't happen. The FICO2 at 797 is promising, but the FICO8 is just stuck there in the low 770's and only moved a few points.

 

There's no adverse scoring event. When it happened I was working towards AZEO. With every recent update to my credit report my utilization has reduced, the number of cards reporting a balance reduced (from 4 to 2), my overall utilization reduced. None of those changes budged my score an inch. AAYA going over 12 months made no difference. The inquiry aging to 12 months DID have an impact--I got a whole 3 points on FICO8. On FICO2 I got 11 points, which is much better. But FICO8 doesn't seem very sensitive to any of this.

 

There's no other derogatories on my file. No lates, no records, no collections--my file is clean. What holds back my score is age of oldest account is only around 4.5 years.

 

I used Experian's Credit Check Total to update my score every day for the last few days, looking only at the EX FICO8 scores that it provides daily. CCT is run by Experian, so it's not "my" calcualtion, it's Experian's. If it's calculating wrong then Experian is calculating wrong. 

 

So that's data: On my file, on EX, for FICO8 it didn't make any difference. I only recently started this daily monitoring (planning a mortgage app soon) so I don't know if it mattered at the 6 month mark or 9 month mark or some other point in time. It didn't matter at 12.

 


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Last Inq 06/2020
Message 5 of 47
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Established Contributor

Re: Effect of one inquiry on FICO8 and FICO2


@Thomas_Thumb wrote:

@Canadian-In-Seattle wrote:
Some data to share:

Today my only inquiry aged off my EX report (ie, hit 12m). I have 10 open and 4 closed accounts, oldest 4y8m AAoA 3y5m and very low utilization (under 1%).

No other changes on my report between yesterday and today.

EX FICO8 771 to 774
EX FICO2 786 to 797

Per CCT

Was this inquiry tied to a new account as opposed to something like a CLI? Do you still have any new accounts under 12 months age as would be the case if a new account HP was pulled from a different CRA? 

 


The inquiry was Bank of America pulling my credit to issue two credit cards. The inqury was April 11th. The first card was issued April 11th, and, the second I think around April 20th. They re-used the same HP for the second card. On my EX file both the cards show up with April 1st as their date issued even though it was acutally later in the month--I see that EX always lists the 1st of the month for every card like that. 

 

So with April 1 listed as the issue date for both cards it was interesting to see no score change between March 31 and April 1. When the inquiry itself aged to 12 months on the 11th I got a 3pt bump.


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Last Inq 06/2020
Message 6 of 47
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Super Contributor

Re: Effect of one inquiry on FICO8 and FICO2

TT, is there a certain clean scorecard that doesn't react like the others when talking AoYA reaching 12 months?  If so, I have not heard of it in my forum readings over the years.

Message 7 of 47
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Senior Contributor

Re: Effect of one inquiry on FICO8 and FICO2

Not that I am aware but, that is hard to nail down since we don't really know what scorecard each profile is on.

 

Although both cards issued list 4/1 as a date with one not being issued until 4/20, I wonder if there could be a difference in dates on the CRA report. It will be interesting to see if something happens 4/20 or 5/1. Also, I am still unclear if there are potentially other new accounts under 12 months age that did not result in a HP on EX.

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 8 of 47
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Established Contributor

Re: Effect of one inquiry on FICO8 and FICO2

No other new accounts. After last April I went into the garden in anticipation of a mortgage application sometime this spring. Last month I started paying my balances ahead of statement to lower reported utilization with the goal of being AZEO when I apply. So during this time my utilization has been under 1 percent and less than 5% on the highest card.

I checked on March 29, 30, 31 and April 1, 2 and there were no changes of any kind on my EX report on those days and no change to FICO8.

Between April 3rd and 10th a few cards reported zero balance and one reported a 4% balance, with no change in score. On April 11 the inquiry aged to 12 months and FICO8 score increased 3 points while FICO2 jumped 11 points.

Unfortunately I wasn't looking at FICO2 during March so that MAY have changed April 1. FICO8 didn't. I also only looked at EX so I don't know what TU and EQ did.

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Last Inq 06/2020
Message 9 of 47
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Super Contributor

Re: Effect of one inquiry on FICO8 and FICO2

I bet you get your points on the first.
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.
RIP:




Updated June 2020, unless otherwise noted. I took an HP on EX, will reflect on next update.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (aged/nonaged), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/aged/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 10 of 47
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