During December, the SDFCU 90% amount was transferred away to Quicksliver, SDFCU now about 20% utilization.
The Hilton card at over 50% went down to about 10% utilization.
New application for Savor card adds an INQ to each bureau, but since the most recent apps are a few months ago, for co-signed loan, not much impact from that.
The Reason Codes on TU changed back after the SDFCU went below 90%. The Reason Codes at 90% were:
1 - Proportion of Balances to Credit Limits is too high on bank/national revolving or other revolving accounts are too high.
2 - Time since most recent account opening is too short.
3 - Too many accounts with balances
4 - Amounts owed on revolving accounts is too high
After Hilton dropped below 50%, before SDFCU reported below 90% and after the Savor app, the Reason Codes rearranged:
1 - Time since most recent account opening is too short
2 - Too many accounts with balances
3 - Length of time revolving accounts have been established
4 - Too many inquiries last 12 months
No mention of proportion of balances.
I also made several changes to credit limits, shuffling AMEX and increasing Citi, and this triggered notices from TU about the balances. I see now that TU includes the Closed account in the "All Bankcards" regular update of balances, when there is no CL listed. This is the one you see routinely when balances change.
There is a separate alert from TU when CL changes, and THAT listing shows the Bankcard balances excluding the Closed account, and compared to all the Open Account Credit Limits. This is further indication to me that Closed accounts are not part of the regular Utilization measures.
EQ 825 TU 832 EX 831
Nice analysis @NRB525
Can't fault that for FICO 8, would be interesting to see (if you have the monthly 3B subscription) reason codes for the mortgage scores and if they report similarly.
There's been some changes over time in the algorithms, possible this is another such, or maybe it is just another example of something that was gotten wrong previously. That does happen.
The previous 3B report is from November 9 2018. Included in this the Hilton card was at 44%, seems to be the highest utilization at that time.
Today, currently the Freedom card ($3k limit) is highest utilization at about 33%, and that will drop to near zero in the next few days when that reports. After that, all remaining revolving accounts will be at most 10% range, I have no other large utilization cycles planned, and I will pay off the Citi closed account. That should report as finally zero at about the 21st.
Mortgage reasons as of November 9:
With January 2, my Chase Freedom card has gone from over 30% to nothing ( $1,015 of $3,000 limit to $21 of $3,000 limit ) and both EQ and TU increased nicely. EQ +7 to 832 and TU +11 to 839.
More interesting is that TU now only has two Reason Codes on FICO 8.
Drops "Time Since Most Recent Account opening is too short" and "Length of Time revolving accounts have been established". As soon as CapOne Savor reports, these two should be back.
Edit : The highest utilization card is now the SDFCU $99 of $500 so a fraction under 20%.
The NEXT highest utilization on any card, open or closed, is in the range of 10% utilization on individual cards.
Discover at $1,866 of $17,000 or 10.9% and Hilton at $1,025 of $10,000 or 10.25%.
The closed Citi card is $490 of $5,690 or 8.6%.
After EX reports the Freedom card I will pull the 3B report to get scores.
Then after that will pay off the Citi Closed card to see any score change. But at this point, there is no indication of Balances / Utilization issue, since there are only two Reason Codes at all on TU.
@NRB525 what are your age metrics? Oldest account, oldest revolver, AAOA, etc if you wouldn't mind posting?
I've seen less than 4 reason codes before when I didn't fit any of the ones available in that scorecard (3 reason codes instead of 4 on TU FICO 4 at one point) so wondering what your age metrics are such that the complaints about short history and length of revolvers being established goes away.
Oldest active revolvers / accounts are Dec 2000.
Oldest listed closed account is April 1998, so age of oldest account is now over 20 years.
This Citi closed account was opened December 1999. Interestingly does not have the same "Closed" icon on the mobile app MyFico report.
CK shows AAoA as 5 years 10 months.
Edit: From page 1 the MyFICO AAoA was 6 years 11 months in November, and several of my oldest accounts are closed. The three oldest in particular are closed, 18 to 20+ years each. I seem to recall other comments that CK does not worry about closed accounts for several purposes.
Age of Youngest account (revolver) should just have crossed 1 year, so that is part of the bump in scores today / yesterday.
I don't think the cosigned Installment Loan account in August counts.
Freedom card dropped from 33% to $21 of $3,000. The highest utilization card now is SDFCU $99 of $500. No change to TU score reason list, two reasons only. Overall utilization is 2%.
EQ = 832 TU = 839 EX = 840
Mortgage score reason codes image.
Huh, that's interesting to see both EX FICO 2 and TU FICO 4 complain about revolving utilization.
You mentioned your CC's, do you have things like a HELOC or PLOC or balance on those Amex charge cards in your sig?
Charge card with balance yes.
Second mortgage may be considered a HELLC but no draws available for that, it is now on amortization mode.
Second mortgage may be considered a HELLC but no draws available for that, it is now on amortization mode.
@NRB525 wrote:
Charge card with balance yes.
Second mortgage may be considered a HELLC but no draws available for that, it is now on amortization mode.
Huh, any idea what's causing that reason code on TU FICO 4 then? How does the HELOC report actually for you? Mine just looks like a revolving account.
EX FICO 2 is easy, both charge card and HELOC count there... but I don't see it on my current TU FICO 4 but I have a 60D (recent) on that which might push the revolving metric off the reason code. Doesn't seem like EQ FICO 5 cares but I'll see what happens there when I pay down my HELOC.