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Well explain the 16 pt drop after going from 8% to 7%? And other factors?

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Regular Contributor

Re: Well explain the 16 pt drop after going from 8% to 7%? And other factors?

So if I am understanding this correctly since I had the AU cards all at zero, they have disappeared from reports for a short moment and have no impact. 

 

This is the first time in a long time, I have seen all my scores the same for the big 3. I expect this to change as they will start showing balances again and I am taking care of some TU inq issues. But its nice to see them all equal. 

 

3 scores.png

Message 21 of 32
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Valued Contributor

Re: Well explain the 16 pt drop after going from 8% to 7%? And other factors?


@AzCreditGuy wrote:

So if I am understanding this correctly since I had the AU cards all at zero, they have disappeared from reports for a short moment and have no impact. 

When all AU cards are at zero, do the ages change dramatically on a report from myFICO or Experian?

 

I thought they would just show the same (intramonth reports) or an additional month, and the scoring module drops them internally, which lowers AAoA (or AAoRA) for scoring purposes.

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

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Message 22 of 32
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Regular Contributor

Re: Well explain the 16 pt drop after going from 8% to 7%? And other factors?


@CassieCard wrote:

@AzCreditGuy wrote:

So if I am understanding this correctly since I had the AU cards all at zero, they have disappeared from reports for a short moment and have no impact. 

When all AU cards are at zero, do the ages change dramatically on a report from myFICO or Experian?

 

I thought they would just show the same (intramonth reports) or an additional month, and the scoring module drops them internally, which lowers AAoA (or AAoRA) for scoring purposes.

 

Below is from Experian....Seems I still have AU age factored in report?

 

Credit History.png

 

 


 

Message 23 of 32
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Super Contributor

Re: Well explain the 16 pt drop after going from 8% to 7%? And other factors?

@CassieCard The ages don't change in Experian, it has one place that shows with authorized user accounts and another place that shows ages without.

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:

Oldest/average age varies by bureau. Estimates above.


Updated Oct 2020, unless otherwise noted.

(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? (Mature/young), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/mature/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 to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 24 of 32
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Valued Contributor

Re: Well explain the 16 pt drop after going from 8% to 7%? And other factors?


@Birdman7 wrote:

@CassieCard The ages don't change in Experian, it has one place that shows with authorized user accounts and another place that shows ages without.


Oh thanks...that explains a lot now. I didn't know that.

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

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Message 25 of 32
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Valued Contributor

Re: Well explain the 16 pt drop after going from 8% to 7%? And other factors?


@AzCreditGuy wrote:

Below is from Experian....Seems I still have AU age factored in report?

 

Credit History.png

Going by that snapshot, it looks like I'm going to have to wait 2yrs 3mo until AoOA is 5yrs 0mo for Credit History Length to change from FAIR to GOOD.

 

I saw it change from POOR to FAIR at AoOA 2yr 6mo.

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

Keeper of the Scrolls of ResilienceEQ FICO Resilience Index Score Leaderboard

46 forum members have shared this new credit score. Share yours today!

Message 26 of 32
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Regular Contributor

Re: Well explain the 16 pt drop after going from 8% to 7%? And other factors?

Yep, i had the AZ AU ding in August when I accidentally let all accounts report as zero. You can see in my signature only TU and EX were impacted. I'm hoping to bounce back later this month.

FICO 8
1/2020 EQ714 TU736 EX719
2/2020 EQ718 TU744 EX736
5/2020 EQ723 TU741 EX730
7/2020 EQ725 TU750 EX755
8/2020 EQ725 TU746 EX744
9/2020 EX718 EQ715 TU722
Cards:
NFCU Visa Sig Cash Rewards $28k cl
Amex Gold
Amex HH Aspire $40k cl
Synchrony Bank -Bowflex $7500 cl
BoA Visa Cash Rewards $24k cl
Message 27 of 32
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Regular Contributor

Re: Well explain the 16 pt drop after going from 8% to 7%? And other factors? (Update)

So the main cardholder who I am under the AU just had a 22 pt drop on Fico 9. Ive always been one to say if your at 800, anything over that is fluff. Im having second thoughts 823 seems better than 801....

 

Fico 9.png

 

I find the factors interesting though?

 

  • Lack of recent installment loan information (Personal loan paid off 2019)
  • No recent revolving balances ( The issue that started the thread)
  • Length of time accounts have been established ( oldest account 17 years, youngest account 10 years)
Message 28 of 32
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Regular Contributor

Re: Well explain the 16 pt drop after going from 8% to 7%? And other factors? (Update)

Well the AU CC posted a balance of $66 and 13pts were gained back from the 16 pt loss from the AU CC $0 balance a couple of weeks ago

 

Capture.PNG

Message 29 of 32
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Valued Contributor

Re: Well explain the 16 pt drop after going from 8% to 7%? And other factors?

well this is insane to find this little tidbit here...I just had this happen on a kids account that I have (3) AU cards on.  I have not read the back story here on this but great, I know how to fix it - get a bal on the card that reported $ 0 but is this artificial, meaning if I closed all the AU accounts would his scores also go back up?  crazy but glad I found the cause it really had me going.  thx

 

EDIT: just hit the post below talking about aaoa - I don't have the time or interest to aaoa his account to answer the remove question so i will just get a bal back reporting on the card.   thx

Message 30 of 32
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