Youngest Account 1 Year Thresholds

JLK93 · ‎11-14-2016

My youngest account aged to 1 year on September 1st. All FICO 8 scores increased. FICO 9 scores were rebucketed decreased. The before and after scores are included in the following charts.

Experian	8/30/2016	9/1/2016
		1 Year
		Threshold
# Inquiries	2	2
# Cards w/Bal	2 of 29	2 of 29
AAoA	10 y 3 m	10 y 4 m
EX 8	841	850	Plus 9
EX 8 Auto	853	872	Plus 19
EX 8 Bankcard	890	900	Plus 10
EX FICO 9	850	850
EX 9 Auto	879	878	Minus 1
EX 9 Bankcard	880	879	Minus 1

Equifax	8/30/2016	9/1/2016
		1 Year
		Threshold
# Inquiries	1	1
# Cards w/Bal	2 of 29	2 of 29
AAoA	10Y 3M	10Y 4M
EQ FICO 8	850	850
EQ 8 Auto	856	861	Plus 5
EQ 8 Bankcard	878	883	Plus 5
EQ FICO 9	850	850
EQ 9 Auto	892	877	Minus 15
EQ 9 Bankcard	888	874	Minus 14

Transunion	8/18/2016	9/1/2016
		1 Year
		Threshold
# Inquiries	3	3
# Cards w/Bal	1 of 28	2 of 28
AAoA	10Y 9M	10Y 10M
TU FICO 8	843	850	Plus 7
TU 8 Auto	862	870	Plus 8
TU 8 Bankcard	882	890	Plus 8
TU FICO 9	850	850
TU 9 Auto	871	855	Minus 16
TU 9 Bankcard	882	867	Minus 15

Notes:

1. The drop in TU and EQ FICO 9 scores suggests a rebucketing.

2 The EX Bankcard Enhanced score topped out at 900. Otherwise, the increase might have been closer to the 19 points seen on the EX Auto Enhanced score. This seems reasonable since the increases seen on the TU and EQ FICO 8 enhanced scores were each consistent for each Bureau and the decreases seen on all of the FICO 9 Enhanced scores were consistent for each Bureau.

3. EX and TU FICO 8 Classic scores topped out at 850. The score increase might have been greater otherwise. The EX FICO 8 Classic score increase might otherwise have been in line with the EX 8 Auto increase of 19 points.

4. EX FICO 8 Bankcard Enhanced score was 900 with 2 inquiries. This suggests a possible buffer for Enhanced Scores. The 2 inquiries on Experian have since aged to 1 year. The scores that were not topped out continued to increase as each inquiry aged.

Anonymous · ‎11-15-2016

Interesting data.

So what exactly hit the 1 year mark... the age of the 2 inquiries (were they from the same exact time?) OR the age of the 2 accounts that reported from the inquiries? The accounts would naturally come after the inquiries, so I guess I'm a little confused as to what crossed the 1 year mark.

JLK93 · ‎11-15-2016

@Anonymous wrote:
Interesting data.

So what exactly hit the 1 year mark... the age of the 2 inquiries (were they from the same exact time?) OR the age of the 2 accounts that reported from the inquiries? The accounts would naturally come after the inquiries, so I guess I'm a little confused as to what crossed the 1 year mark.

The title of the thread refers to youngest account. That is what aged to 1 year. No inquiry aged to 1 year on that date. Inquiry aging is not a rebucketing event or even a major event of any kind.

An inquiry taken on Sept 17 of 2015 will no longer be scored by FICO on Sept 16 of 2016. It is always that way.

An account opened on Sept 17 of 2015 will be scored by FICO as being opened on Sept 1 2015. That account will reach 1 year of age on Sept 1 2016. It is that way for all 3 Credit Bureaus.

Anonymous · ‎11-15-2016

Right, but inquiry aging can also result in a score increase and I was just making sure that your data provided was based off of 1 variable changing and not influenced by 2 variables.

JLK93 · ‎11-15-2016

@Anonymous wrote:
Right, but inquiry aging can also result in a score increase and I was just making sure that your data provided was based off of 1 variable changing and not influenced by 2 variables.

One variable.

Revelate · ‎11-15-2016

To ask for a bit more detail, what is the open date on that tradeline and how many payments were reported? I would assume it is calculated on open date.

JLK93 · ‎11-15-2016

@Revelate wrote:
To ask for a bit more detail, what is the open date on that tradeline and how many payments were reported? I would assume it is calculated on open date.

The youngest account was opened on Sept 17 2015. Now, we have introduced a red herring. I really wanted this thread to be informative.

FICO scoring of aging has never been based on the open date of an account. Experian only reports the month an account was opened. Until several years ago only the month of account opening was reported on Equifax. The FICO algorithms have always scored accounts based on the 1st of the month the accounts were opened. It doesn't matter whether an account is opened on the 1st or the 31st. They both age as if they were opened on the first. All of the Myfico old timers were aware that FICO aging was based on the account being opened on the first. Unfortuneately, the common body of knowledge on FICO scoring has deteriorated in some ways.

The fact that my FICO 9 scores were rebucketed on Sept 1st underscores that fact that the algorithms have not changed this aspect of scoring. I have crossed aging thresholds multiple times. The score changes have always occured on the 1st of the month.

The number of payments reported has always been completely irrelevant to FICO scoring. FICO doesn't track payments over time. I don't know how this idea ever got started. It would be good if we could put an end to it now. Most of the major banks no longer even report payments. My youngest account was a Chase card. Chase, like other major banks, doesn't report payment information. If I had never used that card, my scores would have reacted in exactly the same way on the same date.

Once again, the fact that my score increases and rebucketing occured on the first of Sept demonstrates that the knowledge of the Myfico old timers was correct.

Anonymous · ‎11-15-2016

@JLK93 wrote:
The youngest account was opened on Sept 17 2015. Now, we have introduced a red herring. I really wanted this thread to be informative.

So was your intent for no one at all to reply to this thread? It would seem that way as your responses have only been abrasive thus far to anything anyone has asked or added. The thread was informative, but it's natural for members to ask questions which I'm sure you can understand.

Anonymous · ‎11-15-2016

Hey JLK93, were all the myFICO "old timers" as condescending as you back in the day?

Revelate · ‎11-16-2016

Poor choice of words by me even if the reaction wasn't warranted.

Open date = day or month, whatever the bureau lists as the open date on the account and yes that is a month/year on some bureaus (notably EX).

Payments = should've said statements or just reports: the open date doesn't necessarily correspond with the tradeline data of reports to the bureau. Even my own file has multiple skews, and EX and EQ aren't the same at all with how they record the data (which since you had changes on both likely ruled that out but I didn't think of that at the time).

I was simply trying to get some additional detail around the information, that's all, though I accept the responsibility of the poorly chosen words.

In general as a piece of advice: I would make the suggestion to everyone that the assumption that others are less intelligent or less educated, is almost assuredly not correct; it is also not acceptable to express that on this particular forum.