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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

Re: Effect of one inquiry on FICO8 and FICO2

10 open and 4 closed.

 

Something's keeping my score low, all I can think is that I opened a lot of accounts quickly with little credit history. Otherwise I'm not sure why things like the inquiry aging >12m and the new accounts aging >12m isn't moving my score more than 2 points. Something is "capping" me at somewhere near my present 771 score for FICO 8. 

 

FICO 2 seems to have responded the way you would expect.


Amex BCE $40k || BoA Travel $5k || FirstTech MC $5k || BECU PLoC $10k || Discover Miles $27.7k || CITI DC $27.5k || CHASE Amazon $12.5k || BoA Premium Rewards $31k || BoA Cash Rewards 26k // AU on DW's Costco Visa $12k FICO8 774
Last Inq 04/2018
Message 21 of 47
Established Contributor

Re: Effect of one inquiry on FICO8 and FICO2

And the answer is.......

 

No change in score. Still 774 on May 1st. There's some useful data there:

Latest open account updated from 1 yr to 1yr 1m

Average age updated from 3yr 5m to 3yr 6m

 

Neither made any difference. Score remained steady at 774. Next event will be when my account actually updates to AZEO from AZE3 right now (all with very low balances). Assuming I don't app something first.


Amex BCE $40k || BoA Travel $5k || FirstTech MC $5k || BECU PLoC $10k || Discover Miles $27.7k || CITI DC $27.5k || CHASE Amazon $12.5k || BoA Premium Rewards $31k || BoA Cash Rewards 26k // AU on DW's Costco Visa $12k FICO8 774
Last Inq 04/2018
Message 22 of 47
Valued Contributor

Re: Effect of one inquiry on FICO8 and FICO2

Wow, this is a real mystery. I hope someone figures it out I’d love to know the answer.
New:
Under Recon:Should I?




Installment loan reported this month,so technically, I'm at 2 months, but AoYA points were NOT reset. When new CCs hit and it is reset, I'll put the number it is.+0,+2,+2(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated AUG 4, '19. Since then, 4 HP dings to add; will update again.
Message 23 of 47
Moderator Emeritus

Re: Effect of one inquiry on FICO8 and FICO2

Hmmm those FICO 8 reason codes are useless as they appear to be CMS provided rather than CRA provided.

Would note though that your EX FICO 2 now appreciably higher than mine and I just got a boost for what appears to be AAOA (though to BBS’s point is is conflated with oldest account having the same anniversary, maybe one of my two new accounts will knock it back down when they report but I doubt it) .

It also is highly optimized in that I don’t have that reason code for balances anymore but I do have a CFA so I don’t think you are being negatively penalized there (786 as of this morning).

But why my EX FICO 8 is 820 and to your point that is substantial: it was 817 yesterday too.



        
Message 24 of 47
Moderator Emeritus

Re: Effect of one inquiry on FICO8 and FICO2

Actually what is your tradeline mix? Do you have any installment accounts at all and if so are they open or closed?



        
Message 25 of 47
Established Contributor

Re: Effect of one inquiry on FICO8 and FICO2

No installments. I had one store card (Amazon) but it's now closed. One line of credit. The rest are all bank credit cards.

Amex BCE $40k || BoA Travel $5k || FirstTech MC $5k || BECU PLoC $10k || Discover Miles $27.7k || CITI DC $27.5k || CHASE Amazon $12.5k || BoA Premium Rewards $31k || BoA Cash Rewards 26k // AU on DW's Costco Visa $12k FICO8 774
Last Inq 04/2018
Message 26 of 47
Valued Contributor

Re: Effect of one inquiry on FICO8 and FICO2

Wait a minute, this is sounding real familiar. This is reminding me of HO with no open or closed installments. Remember his profile seemed to react differently, we presumed as a consequence of his having no open or closed installment loans, or at least we never came up with a better answer. Maybe CiS’s profile is doing unconventional things for the same reason?
New:
Under Recon:Should I?




Installment loan reported this month,so technically, I'm at 2 months, but AoYA points were NOT reset. When new CCs hit and it is reset, I'll put the number it is.+0,+2,+2(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated AUG 4, '19. Since then, 4 HP dings to add; will update again.
Message 27 of 47
Moderator Emeritus

Re: Effect of one inquiry on FICO8 and FICO2

Well credit mix is a thing: we know that FICO 8 looks at installment ratios but never really have been able to separate it from credit mix... your FICO 2 score being higher makes sense as I have more dings but your FICO 8, given that I only got 3 points for crossing a clear aging boundary, the fact I have several open and closed installment accounts seems to be the only substantial difference.



        
Message 28 of 47
Valued Contributor

Re: Effect of one inquiry on FICO8 and FICO2

I tend to agree. CIS are we correct that you don’t have any installment loans even closed?
New:
Under Recon:Should I?




Installment loan reported this month,so technically, I'm at 2 months, but AoYA points were NOT reset. When new CCs hit and it is reset, I'll put the number it is.+0,+2,+2(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated AUG 4, '19. Since then, 4 HP dings to add; will update again.
Message 29 of 47
Established Contributor

Re: Effect of one inquiry on FICO8 and FICO2


@Birdman7 wrote:
I tend to agree. CIS are we correct that you don’t have any installment loans even closed?

Sorry for the late reply -- correct. I don't have any installments, closed or open. I have 14 total accounts:

 

9 open bank credit cards in siggy (on just one--not the oldest--I am the AU, rest I'm primary)

1 open line of credit (BECU)

1 closed charge card (Amex gold)

1 closed bank card (RBC)

1 closed store card (Amazon/sync)

1 closed line of credit (RBC)


Amex BCE $40k || BoA Travel $5k || FirstTech MC $5k || BECU PLoC $10k || Discover Miles $27.7k || CITI DC $27.5k || CHASE Amazon $12.5k || BoA Premium Rewards $31k || BoA Cash Rewards 26k // AU on DW's Costco Visa $12k FICO8 774
Last Inq 04/2018
Message 30 of 47
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