Why did my scores increase 30+ points on all three CBs?

[Anonymous]

I got an very unexpected (pleasant) surprise when my fico 8 scores increased by 30+ points on all three CBs this month.  EQ increased by 35 points and TU/EX both increased by 32 points.  I'm just not sure exactly why.  

previous Fico 8 scores:

EQ: 716 TU: 725 EX: 760

current Fico 8 scores:

EQ: 751 TU: 757 EX: 792

Last month...

5/8 cards reporting a balance (EQ, TU, EX)

overall aggregate util 6% (EQ and EX)

overall aggregate util 7% (TU)

This month...

3/8 cards reporting a balance (EQ and EX)

4/8 cards reporting a balance (TU)

overall aggregate util 4% (EQ and EX)

overall aggregate util 5% (TU)

My oldest open CC (opened last year) turned 1 year this month.

No inquiries have fallen off.  2 of 7 inquiries are due to fall off on EQ only later this month.  Since those two inquiries are still on the report, they shouldn't be factoring into the increase.

6 new cards were added last quarter with 3 of the 6 new cards turning 3 months old this month and the remaining three turned 2 months old this month.

 AAoA is 9 years 4 months

10 total revolving TLs on EQ/EX, 2 of these are closed

9 total revolving TLs on TU, 1 of these is closed

8 open revolving TLs on EQ/TU/EX

Although I expected an increase due to my first CC that I got last year turning a year old this month, I wasn't expecting this large of an increase.  The only other thing I see is that last month, over 50% of my cards reported a balance.  This month, 50% or less reported a balance. Would these two things be the cause for such a big jump?  What is the typical score increase one could expect to see when one TL turns 1 year old?  I know YMMV apply, but just wondering.  Now, that I think about it, maybe I was getting dinged big time for the fact that more than 50% of my cards were reporting a balance even though my aggregate util was <9%.  But 30+points? Whew!

 Any insight would be much appreciated.  Thanks inadvance to everyone who responds.

[SouthJamaica]

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@Anonymous wrote:

I got an very unexpected (pleasant) surprise when my fico 8 scores increased by 30+ points on all three CBs this month.  EQ increased by 35 points and TU/EX both increased by 32 points.  I'm just not sure exactly why.  

previous Fico 8 scores:

EQ: 716 TU: 725 EX: 760

current Fico 8 scores:

EQ: 751 TU: 757 EX: 792

Last month...

5/8 cards reporting a balance (EQ, TU, EX)

overall aggregate util 6% (EQ and EX)

overall aggregate util 7% (TU)

This month...

3/8 cards reporting a balance (EQ and EX)

4/8 cards reporting a balance (TU)

overall aggregate util 4% (EQ and EX)

overall aggregate util 5% (TU)

My oldest open CC (opened last year) turned 1 year this month.

No inquiries have fallen off.  2 of 7 inquiries are due to fall off on EQ only later this month.  Since those two inquiries are still on the report, they shouldn't be factoring into the increase.

6 new cards were added last quarter with 3 of the 6 new cards turning 3 months old this month and the remaining three turned 2 months old this month.

 AAoA is 9 years 4 months

10 total revolving TLs on EQ/EX, 2 of these are closed

9 total revolving TLs on TU, 1 of these is closed

8 open revolving TLs on EQ/TU/EX

Although I expected an increase due to my first CC that I got last year turning a year old this month, I wasn't expecting this large of an increase.  The only other thing I see is that last month, over 50% of my cards reported a balance.  This month, 50% or less reported a balance. Would these two things be the cause for such a big jump?  What is the typical score increase one could expect to see when one TL turns 1 year old?  I know YMMV apply, but just wondering.  Now, that I think about it, maybe I was getting dinged big time for the fact that more than 50% of my cards were reporting a balance even though my aggregate util was <9%.  But 30+points? Whew!

 Any insight would be much appreciated.  Thanks inadvance to everyone who responds.

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In my opinion none of those changes would yield that many points.

[Anonymous]

SouthJamaica, I agree with you 100%. That's why I'm posting this as it doesn't make sense to me either. I've gone through my 3B reports from last month and this month with a fine tooth comb- nothing is standing out.

[Anonymous]

any open installment TLs? What's the utilization on those? Also, what were your scores before you added the 6 revolvers 3 months ago?  I think  getting less than half of your revolvers to report zero balance probably contributed 10 to 15 of those 30 points.  But you probably took  some kind of score hit by adding those six accounts within the last three months, and the effects are starting to wear off.

[Anonymous]

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@Anonymous wrote:

any open installment TLs? What's the utilization on those? Also, what were your scores before you added the 6 revolvers 3 months ago?

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TMF, thanks for responding.

Yes, an open installment TL - Alliant Share Secure loan - was open in Dec,, first reported in January and my EX score was increased early January and that increase was already reflected in the last month scores I reported.  The utilization for that is 8.4%.  Note this installement loan was paid down to 8.4 % before it ever reported the first time.  So essentially, I opened it, paid it down by the first due date and when it first reported, it reported the 8.4%.  This utilization % did not change between last month and this month.

Fico 8 scores before adding the new 6 revolvers and before the installment TL reported (end-Oct. 2016):

EQ: 684, TU: 682, EX: 723

During this time, no new revolvers had reported.  The fico 8 scores reported were (mid-Nov 2016):

EQ: 666, TU: 682, EX: 737

Essentially in Nov 2016 is when I started applying for the new revolvers TLs.  

During this time, two of the new revolvers had reported.  The fico 8 scores reported were (mid-Dec 2016):

EQ: 682, TU: 709, EX: 740

Essentially in Dec 2016 two new revolvers TLs reported.

Another new revolver reported and there was a +3 pt increase on EQ Fico 8 (end-Dec 2016):

EQ: 685, TU: 709, EX: 740

Fico 8 scores after all the newly added 6 revolvers reported but before the installment TL reported (Jan 2017):

EQ: 694, TU: 708, EX: 740

So bascially, I lost 1 point on TU after all the revolvers reported. EQ increased and EX remained the same.  My mortgage scores took a larger hit, ignore - since they are not a part of this analysis.

Fico 8 scores after the newly added 6 revolvers reported and after the installment TL reported (mid-Jan 2017):

EQ: 712, TU: 725, EX: 760

Then there was a 4 point increase on Fico 8 EQ when one of my cards reported a zero balance (mid-Jan 2017):

EQ: 716, TU: 725, EX: 760

...and now 30+ points (Feb 2017)

EQ: 751, TU: 757, EX: 792

The only alerts I got between the last scores (^^^^^) and the 30+ points increase were overall balances decreased or a particular CC balance decreased alerts, but none of those alerts indicated any score change - not until one card on EQ reported a 0 balance. That CC balance essentialy went from $423 balance to 0 of a 20K individual CC CL.  That's when the 35 point increase alert first showed, but only on EQ fico 8.

I pulled my 3B report the same day I got that alert which showed a 30+ point increase on all the CBs.  So to me, that indicates that the number of cards reporting a balance was the cause of the increase- but I know alerts can be rolled up, so it's hard to tell.  If so, that's a lot of points for just that one event!

[Anonymous]

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@Anonymous wrote:

any open installment TLs? What's the utilization on those? Also, what were your scores before you added the 6 revolvers 3 months ago?  I think  getting less than half of your revolvers to report zero balance probably contributed 10 to 15 of those 30 points.  But you probably took  some kind of score hit by adding those six accounts within the last three months, and the effects are starting to wear off.

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Yes, I did but not as much as I expected and they are accounted for in the additional info I added in the score trends I posted (see previous post). Most of the inquiries were on EQ (increased from 2 to 7- which explains why it had the largest drop).  TU (increased from 1 to 3), and EX (increased from 0 to 2).  

Ofcourse, I'm happy for the increase.  I would just like to understand why I got it!

[Anonymous]

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@Anonymous wrote:

I got an very unexpected (pleasant) surprise when my fico 8 scores increased by 30+ points on all three CBs this month.  EQ increased by 35 points and TU/EX both increased by 32 points.  I'm just not sure exactly why.  

previous Fico 8 scores:

EQ: 716 TU: 725 EX: 760

current Fico 8 scores:

EQ: 751 TU: 757 EX: 792

Last month...

5/8 cards reporting a balance (EQ, TU, EX)

overall aggregate util 6% (EQ and EX)

overall aggregate util 7% (TU)

This month...

3/8 cards reporting a balance (EQ and EX)

4/8 cards reporting a balance (TU)

overall aggregate util 4% (EQ and EX)

overall aggregate util 5% (TU)

My oldest open CC (opened last year) turned 1 year this month.

No inquiries have fallen off.  2 of 7 inquiries are due to fall off on EQ only later this month.  Since those two inquiries are still on the report, they shouldn't be factoring into the increase.

6 new cards were added last quarter with 3 of the 6 new cards turning 3 months old this month and the remaining three turned 2 months old this month.

 AAoA is 9 years 4 months

10 total revolving TLs on EQ/EX, 2 of these are closed

9 total revolving TLs on TU, 1 of these is closed

8 open revolving TLs on EQ/TU/EX

Although I expected an increase due to my first CC that I got last year turning a year old this month, I wasn't expecting this large of an increase.  The only other thing I see is that last month, over 50% of my cards reported a balance.  This month, 50% or less reported a balance. Would these two things be the cause for such a big jump?  What is the typical score increase one could expect to see when one TL turns 1 year old?  I know YMMV apply, but just wondering.  Now, that I think about it, maybe I was getting dinged big time for the fact that more than 50% of my cards were reporting a balance even though my aggregate util was <9%.  But 30+points? Whew!

 Any insight would be much appreciated.  Thanks inadvance to everyone who responds.

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Not sure why but it's time for some limit increases huh..??

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

I got an very unexpected (pleasant) surprise when my fico 8 scores increased by 30+ points on all three CBs this month.  EQ increased by 35 points and TU/EX both increased by 32 points.  I'm just not sure exactly why.  

previous Fico 8 scores:

EQ: 716 TU: 725 EX: 760

current Fico 8 scores:

EQ: 751 TU: 757 EX: 792

Last month...

5/8 cards reporting a balance (EQ, TU, EX)

overall aggregate util 6% (EQ and EX)

overall aggregate util 7% (TU)

This month...

3/8 cards reporting a balance (EQ and EX)

4/8 cards reporting a balance (TU)

overall aggregate util 4% (EQ and EX)

overall aggregate util 5% (TU)

My oldest open CC (opened last year) turned 1 year this month.

No inquiries have fallen off.  2 of 7 inquiries are due to fall off on EQ only later this month.  Since those two inquiries are still on the report, they shouldn't be factoring into the increase.

6 new cards were added last quarter with 3 of the 6 new cards turning 3 months old this month and the remaining three turned 2 months old this month.

 AAoA is 9 years 4 months

10 total revolving TLs on EQ/EX, 2 of these are closed

9 total revolving TLs on TU, 1 of these is closed

8 open revolving TLs on EQ/TU/EX

Although I expected an increase due to my first CC that I got last year turning a year old this month, I wasn't expecting this large of an increase.  The only other thing I see is that last month, over 50% of my cards reported a balance.  This month, 50% or less reported a balance. Would these two things be the cause for such a big jump?  What is the typical score increase one could expect to see when one TL turns 1 year old?  I know YMMV apply, but just wondering.  Now, that I think about it, maybe I was getting dinged big time for the fact that more than 50% of my cards were reporting a balance even though my aggregate util was <9%.  But 30+points? Whew!

 Any insight would be much appreciated.  Thanks inadvance to everyone who responds.

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Not sure why but it's time for some limit increases huh..??

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doinit1, thank you for responding!  

CLIs would be nice, but in truth, I got some pretty nice SL when I got the new CCs.  The only ones I really would like to see increases on are my Amex BCP, DiscoverIT and my Costco/Citi card.  But I'm in the garden for now and don't want to mess with it for now. But boy oh boy, when that time comes...I intend to have a ball increasing those lines!

[Anonymous]

Based on this information now I'm starting to think that the majority of your points came from being re-bucketed from a profile that did not use a lot of active revolving credit to a profile that is now using It, and using it well... with 50% of  balances at zero and <9% util.

[Anonymous]

Someone can correct me if I'm wrong, but I believe having your oldest (or youngest) CC hit the 1 year mark doesn't matter in and of itself for rebucketing purposes, it's when the age of your youngest account hits 1 year.  You stated that in December (reported in Jan) you had your secure loan open/report, which means you've had an account open recently so I don't believe you can be rebucketed (positively) by that CC reaching the 1 year mark.

It would seem to me that most of the points you gained were from having > 50% of your cards reporting balances change into < 50% of them reporting balances.  As you and others have stated, it seems unlikely that your gains would be this big... but perhaps coupled with aging new accounts and inquiries it is possible.  Did you have a final negative item age past a possible threshold?  Perhaps a lone 30 day late payment crossed the 2 year mark (or dropped off) for example?