What my scores did after recent flurry of activity

[sarge12]

In the past 2 months I have done the following

1) Paid off a secured 3500 loan on my Goldwing

2) Opened a Discover 3500 personal loan to replinish funds

3) Opened BoA credit card with 18 month 0% BT to pay off Discover...card opened but waiting for BT

4) Opened BoA Cash Rewards World card for greed of 150 dollar SUB

5) PC'd my Amex BCE to BCP for 250 dollar bribe

Here is a screenshot of what this did to fico 8 scores at each CRA...in fact it shows what my scores have done for years.

I supply this for those who study what the changes will be when you do various things....FWIW the greatest change was shown at ex which shows 3 new inqueries...the other 2 only show 1 each.

[sarge12]

BBS, Thomas_Thumb, CGID...I put this here so you guys could take advantage of the data...hope you guys see it. I know you all deep dive in what affect things have on the scores, thought this would be helpful.

[Anonymous]

Hi Sarge!  Thanks for contributing the data above!

A few things.  From your points 1-5, only 1-4 would impact your score as the Amex PC wouldn't impact it. 

That being said, would you be able to provide any further info regarding your points 1-4?  Specifically, overall/individual installment loan utilization before/after the changes made with points 1-2 would be cool.  I'm not sure if you have any other loans on your CR not mentioned above with the changes.  As for 3-4, the same thing would be good to know regarding your revolvers.  I think you've said a bunch of times that your AU account is often at 50% or so utilization and may be your AZEO account?  Don't quote me on that, though.  Also, did you compute your AAoA drop from the new accounts in the last 2 months and what was your AoYA in months prior to the drop to 0 months when you opened these new accounts?  Thanks!

[sarge12]

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@Anonymous wrote:

Hi Sarge!  Thanks for contributing the data above!

A few things.  From your points 1-5, only 1-4 would impact your score as the Amex PC wouldn't impact it. 

That being said, would you be able to provide any further info regarding your points 1-4?  Specifically, overall/individual installment loan utilization before/after the changes made with points 1-2 would be cool.  I'm not sure if you have any other loans on your CR not mentioned above with the changes.  As for 3-4, the same thing would be good to know regarding your revolvers.  I think you've said a bunch of times that your AU account is often at 50% or so utilization and may be your AZEO account?  Don't quote me on that, though.  Also, did you compute your AAoA drop from the new accounts in the last 2 months and what was your AoYA in months prior to the drop to 0 months when you opened these new accounts?  Thanks!

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BBS the Goldwing was refinanced when I had it triked...it was 3500 of original 15600 when paid off. I also have in my name my Neices Town and Country financed. It was 13000 of original 20200. Also have home mortgage refinanced in 2009 it is 25000 of original 70000. All my revolvers except the one my sister uses and pays gets PIF before statement cuts. The one she pays is 5400/10000 at 4.99% interest. Once the BT completes from the discover personal loan to the BoA 18 month 0% card it will be at 3300/7000 and be set autopay 220 per month.

[Thomas_Thumb]

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@sarge12 wrote:

In the past 2 months I have done the following

1) Paid off a secured 3500 loan on my Goldwing

2) Opened a Discover 3500 personal loan to replinish funds

3) Opened BoA credit card with 18 month 0% BT to pay off Discover...card opened but waiting for BT

4) Opened BoA Cash Rewards World card for greed of 150 dollar SUB

5) PC'd my Amex BCE to BCP for 250 dollar bribe

Here is a screenshot of what this did to fico 8 scores at each CRA...in fact it shows what my scores have done for years.

I supply this for those who study what the changes will be when you do various things....FWIW the greatest change was shown at ex which shows 3 new inqueries...the other 2 only show 1 each.

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A 15 to 20 point score drop is not unexpected opening three new accounts when considering associated inquiries. The real surprise is the token 4 point drop on EQ. At the time of the last score posting do all three CRAs show the new accounts and same new account activity?

I suspect the loan payoff is inconsequential given your other loans. However, it would be helpful to know your aggregate B/L ratio before & after payoff.

P.S. Why the different time scale for TU and greater # of data points per year? Do you have credit monitoring through TU?

[sarge12]

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@Thomas_Thumb wrote:

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@sarge12 wrote:

In the past 2 months I have done the following

1) Paid off a secured 3500 loan on my Goldwing

2) Opened a Discover 3500 personal loan to replinish funds

3) Opened BoA credit card with 18 month 0% BT to pay off Discover...card opened but waiting for BT

4) Opened BoA Cash Rewards World card for greed of 150 dollar SUB

5) PC'd my Amex BCE to BCP for 250 dollar bribe

Here is a screenshot of what this did to fico 8 scores at each CRA...in fact it shows what my scores have done for years.

I supply this for those who study what the changes will be when you do various things....FWIW the greatest change was shown at ex which shows 3 new inqueries...the other 2 only show 1 each.

---

A 15 to 20 point score drop is not unexpected opening three new accounts when considering associated inquiries. The real surprise is the token 4 point drop on EQ. At the time of the last score posting do all three CRAs show the new accounts and same new account activity?

I suspect the loan payoff is inconsequential given your other loans. However, it would be helpful to know your aggregate B/L ratio before & after payoff.

P.S. Why the different time scale for TU and greater # of data points per year? Do you have credit monitoring through TU?

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I'll try to answer all 3 of these. I too was surprised by the token 4 point drop, so I did the full pull of all three credit reports with AnnualCreditReport.com, which was about time to do anyway. I decided to pull all 3 vs spacing them out. It showed the new discover loan and the first BoA card on all 3. None of them yet show the second BoA cash reward card...so I can find nothing to account for this discrepency.

Since the payoff of the Goldwing and the new Discover loan were both 3500 dollars the aggregate balances would be the same. The balance/original loan amount would have changed, which is of course the utilization on installment loans. With the 25k of 70k home mortgage, and the 13k of 20k on my Neices car in my name, I doubt the change on a 3rd installment from 3500 of 15,600 to 3500 of 3500 would cause any major change. It went from 41,500/105,600 to 41,500/93,500. Hope this is what you are looking for.

I signed up for Fico quarterly monitoring which provides a quarterly TU fico08 report and score for I think 60 dollars a year. Every now and then I pull a 3b, but since I get all except EQ for free elsewhere, I do not do it very often anymore. This product is no longer offered by Myfico, but is continued for those who already had it.

[sarge12]

Fico Quarterly monitoring is actually 49.95 annually, and provides a 1b report and scores from TU, plus ID theft monitoring and insurance. It is not open to new subscribers. The EQ and EX shown was when a 3b was purchased. I get EX fico 08 monthly from discover free to everyone. Eq is only known and updated when I do a 3b pull, which I will likely start doing only twice per year...this does also give me the mortgage and auto scores as well as fico 09.

[sarge12]

Since the OP, I opened a Langley CU checking and savings, and as a result I am finally receiving a free EQ fico08 score....updated scores in signature.

[Anonymous]

Cool.  They must be one of the very few sources of an EQ FICO 8 score.  That's definitely a nice bonus to be able to have a free one provided to you, as most people do not.

[sarge12]

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@Anonymous wrote:

Cool.  They must be one of the very few sources of an EQ FICO 8 score.  That's definitely a nice bonus to be able to have a free one provided to you, as most people do not.

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It is, I now have the fico08 trifecta. I get TU and EX fico 08 from multiple sources as well as Bankcard 08 from Citi, and EX fico 09 from Wells Fargo. Now with the free EQ fico08 from Langley CU, I may not need to buy scores anymore. Might still do a 3B pull every couple of years just to get the more obscure scores used in mortgages and such, but I think it will be rarely done.