@Anonymouswrote:TT, thanks for your insight. A couple of questions though.
Regarding the inquiry drops, I know you and I have discussed possible "binning" in the past. I would think for sure I'll see a score increase on EX in going from 2 to 0 and possibly the same going from 2 to 1 on EQ... but on TU in going from 1 to 0 don't you think that may not have any impact?
Good to know that 3 or less total accounts (across all types) with balances should result in the too many accounts with balances reason statement going away. Is that simply a hard number? Like 4+ yields that statement regardless of total number of accounts? I find it interesting that percentage isn't taken into account at all. Good to know!
Thanks for your score predictions. Is there any reason in particular why you think I'd be able to achieve 850 on TU and EX but come up 5 points short on EQ with Classic FICO 8? As far as Bankcard 8, I'm at 851 there now and that was with 3/8 of my revolvers reporting balances, which I believe is hitting me with some sort of penalty. Not sure what AZEO would do to that 851, but I'll find out next cycle. What is the biggest constraint to hitting 900 on Bankcard 8 relative to 850 on Classic 8?
BBS, I now think INQ binning may be 0, 1, 2-3, 4-6 after review of further data from other posters and my own Bankcard data. Thus, the 845 for your EQ estimate. [As we know 850 is possible with one INQ but it requires sufficient buffer]
Inverse data from a couple years ago shows his scores (after two liens were removed) resulting in clean files across the board were:
EX Fico 8: 850, 0 INQ
TU Fico 8: 840, 2 INQ
EQ Fico 8: 840, 2 INQ
Text in blue below are a copy-paste of his comments
It appears those two inquiries may be worth 10 points on FICO 8 and are certainly affecting my FICO 4 more.
Installment utilization is:
just under 80% on the auto loan
2 mortgages, 2 properties
1 at 40%
1 just under 90%
mortage installment "utilization" under 64%
overall installment "utilization" just over 65%
8+ years AAoA with 18++ years oldest account but not enough history.
When an INQ dropped off his TU file, score increased to 845.
Inquiry dropped of TU scoring yesterday.
Did the $1 CCT join just to check my TU FICO 8, didn't want to pay for a 1B pull here.
Going from 2 -> 1 inquiry on TU netted me 5 points.
Below is some more interesting data from Inverse showing impact of a drop in AoOA and AAoA
My oldest account fell off my TU report for some reason
18.9 year old account "closed" credit card
This was an MBNA card from 1996, that was PC'd in October 2007 to a rewards card that resulted in closing the first accout and opening a new one for the new card
Not sure why it dropped off TU, still reporting on EX and EQ
Last payment date on the account is noted at DEC 2005
My oldest account
18.9-> 9.8
AAoA
8.3 -> 7.4
TU FICO 8 Score drop 845 -> 831