i didn't think that alone would be worth 13 points, especially because it reduced my average age by about 33% and dropped my age of youngest account from over 1 year to 1 month.
Meaning despite the drop in age metrics I was still about to gain 13 points. I would think the drop in age metrics would have cost me at least 5-10 points. Meaning had I not lost as much age, my total gain could have been 20-25 points.
The 4% to 1% util ratio change wouldn't be worth much if anything.
the addition of the next card will bring cards with balances down to 1/3 and will give me true azeo. It will also make my account even thicker. But I don't think that will give me another 13 points, thinking it May be worth a few more points. 5-10 at the most.
And that card will drop my average card from 2.9 years to 2.1. Dropping me below the 2.5 year cutoff some people speak of, but not under the 2 year threshold obviously. It will also give me 2 new accounts under 1 year instead of just 1. So im fully expecting a loss when the next card hits on 9/25, curious to see if dropping under the 2.5 year average age is a true threshold.
My Equifax score 8 dropped 21 points when the 1st of 2 accounts hit this morning.
equifax was the very young profile with 0 missed payments.
@Snook_on_the_Line @NoHardLimits @FicoMike0 @Jnbmom
Ok results are in!
the second account hit my report this morning and the results are:
fico 8 score change after first account-
-gained 13 points on TU and exp
Fico 8 score change from second account-
- received an additional 8 points from the second account, making a grand total of 21 points gained for Fico 8. This only Fico 8 score that lost any points was equifax, and I'm assuming this happened due to it being a much younger and thinner profile than the others? I am extremely please with these results. I was expecting heavy losses for all 3.
fico 9/10/10T we're all slightly different and ranged from small loses to small gains. I will post these results if you guys are infested as well.
Adding accounts did not cause any point gains.
Any point gains are attributable to something else.
@Cblough93 wrote:@Snook_on_the_Line @NoHardLimits @FicoMike0 @Jnbmom
Ok results are in!
the second account hit my report this morning and the results are:
fico 8 score change after first account-
-gained 13 points on TU and exp
Fico 8 score change from second account-
- received an additional 8 points from the second account, making a grand total of 21 points gained for Fico 8. This only Fico 8 score that lost any points was equifax, and I'm assuming this happened due to it being a much younger and thinner profile than the others? I am extremely please with these results. I was expecting heavy losses for all 3.
fico 9/10/10T we're all slightly different and ranged from small loses to small gains. I will post these results if you guys are infested as well.
I'm interested in the fico 9 and 10t changes
my shed is Infested with ants 🐜
but that's a conversation for a whole different forum.
I've got a student loan that's in the process of transferring to nelnet thru the fresh start thing.
it's been in default for so many years that it is no longer on my current reports
im very interested in how this 'new' $7700 installment loan will affect my scores when it shows up on my reports with a b/l ratio of 100%
one of the reasons I've been on a little app/cli spree lately
I plan on paying it down to 49% very quickly and just making double or triple payments from there
The points gain are not from adding the accounts directly but indirectly.
adding the accounts took me from a very thin account with no credit mix (10% of the score) to a very good account mix.
it also brought me from 1/1 Accts with balances to 1/3 giving me points for that and for azeo
lastly it helped my overall payment history and percentage of Accts paid as agreed.
that's my best guess anyways
I'll post all the 9/10/10T scores soon
@Cblough93 wrote:The points gain are not from adding the accounts directly but indirectly.
adding the accounts took me from a very thin account with no credit mix (10% of the score) to a very good account mix.
it also brought me from 1/1 Accts with balances to 1/3 giving me points for that and for azeo
lastly it helped my overall payment history and percentage of Accts paid as agreed.
that's my best guess anyways
I'll post all the 9/10/10T scores soon
Your stated reasons make perfectly good sense. Other things to consider are the improvement in loans:revolvers ratio (part of the credit mix calculation). And generally speaking, score changes impact "clean" and "dirty" profiles differently. Negative changes hit "clean" profiles harder. Positive changes improve "dirty" profiles faster.
Very interesting..
TransUnion and Experian both had the exact same data points. Same accounts same age, same inquiries. But for some reason the addition of 1 new account made TU gained 13 points and experian lost 18 points.
transynuon proceeeded to gain another 8 points from the second account, experian has not yet updated with the second account.
I am stumped as to why there was such a drastic difference between the 2.
more to come
@Cblough93 wrote:Very interesting..
TransUnion and Experian both had the exact same data points. Same accounts same age, same inquiries. But for some reason the addition of 1 new account made TU gained 13 points and experian lost 18 points.
transynuon proceeeded to gain another 8 points from the second account, experian has not yet updated with the second account.
I am stumped as to why there was such a drastic difference between the 2.
more to come
Experian or Equifax? In post #13, you said that TU and EX both gained 13 points after the first new account reported. In post #19, you said that TU gained 13 points but EX lost 18 points. My guess is that you meant EQ, rather than EX, lost 18 points. EQ was your "clean" profile, correct? If so, that put you on a different scorecard than the "dirty" profiles. As I mentioned earlier, negatives lose more points on "clean" profiles while positives gain more points on "dirty" profiles. Do some research on FICO8 Scorecard parameters.
Edit to add: Each bureau has it's own tweaked version of scores. My actions hardly ever produce the exact same score changes across all 3 bureaus simultaneously. In fact, my overall scores are rarely the same except on those occasions when I max out at 850.