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DCU April 2020 FICO is Up

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651 (-128)

 

PenFed took long enough to fix their reporting this month that it showed on this pull. 

 

Wife: 778 (-15) one balance reporting at 80%

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13 hours ago, shifter said:

651 (-128)

 

PenFed took long enough to fix their reporting this month that it showed on this pull. 

 

That's... dramatic.  

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Posted (edited)
On 4/25/2020 at 9:57 AM, cv91915 said:

796 (+18)

Last week I applied for a HELOC with DCU, and the score disclosure shows 806 as of 5/14.  

 

This ties the highest score I've ever had on this model (in Feb 2017).

 

 

CqvRQAh.png

 

 

The score factors for this model are always entertaining.  

 

And the score range on their disclosure is wrong, just like it is in the monthly free score notification.  I believe this score model ranges from 334-818.

 

7any1FR.png

 

Most recent account (Citi Expedia Voyager) was opened in October 2019.

 

I don't have any consumer finance accounts.

 

Counting the inquiry for this specific credit transaction, I have two inquiries on Equifax.  The previous inquiry was in July of 2019.

 

6 of my 28 cards (primary and AU) had balances.

 

 

 

 

 

 

 

Edited by cv91915

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cv:  The score range cited is a joke (that looks to be the range for Equifax's proprietary FAKO score).

 

However, any identified factors that keep you from a 850 score aren't a joke ... simple fact.  1 inquiry and 2 accounts with balances can be reasonably stated to be "too many", assuming their presence lowered your score.

 

As far as "consumer finance company", I have yet to see a definitive description of exactly what types of accounts qualify.  Anecdotally, it seems to be more than the proverbial "Rip You A New One" Finance Co.  Private label store cards might well come into play (even if backed by major banks).

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4 hours ago, hdporter said:

cv:  The score range cited is a joke (that looks to be the range for Equifax's proprietary FAKO score).

 

However, any identified factors that keep you from a 850 score aren't a joke ... simple fact.  1 inquiry and 2 accounts with balances can be reasonably stated to be "too many", assuming their presence lowered your score.

 

As far as "consumer finance company", I have yet to see a definitive description of exactly what types of accounts qualify.  Anecdotally, it seems to be more than the proverbial "Rip You A New One" Finance Co.  Private label store cards might well come into play (even if backed by major banks).

Perhaps one of the score factors should be, "Score range peaks at a lower point than disclosed."

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4 hours ago, hdporter said:

 

As far as "consumer finance company", I have yet to see a definitive description of exactly what types of accounts qualify.  Anecdotally, it seems to be more than the proverbial "Rip You A New One" Finance Co.  Private label store cards might well come into play (even if backed by major banks).

in part due to the path-dependencies of the industry, certain companies that sound like they aren't consumer finance cos code as if they are. For example, for years my spouse had "consumer finance tradeline" as a FICO reason code for a closed Wells Fargo Financial* (not to be confused with Wells Fargo Bank). So if you have Citi Financial, Wells Fargo Financial, etc. you have what codes as a financial services tradeline.

 

 

* the tradeline has long since aged off.

 

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6 minutes ago, chicagorich said:

807.

 

My credit mix isn’t optimal. No car loans or mortgage.

same although I do have closed auto loans and mortgages reporting.

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Posted (edited)

Forget the score. What are you thinking apping a HELOC with a subprime CU??! 

 

Are you going hoping for a close in 2022?

Edited by shifter

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48 minutes ago, shifter said:

Forget the score. What are you thinking apping a HELOC with a subprime CU??! 

 

Are you going hoping for a close in 2022?

 

I keep privately goading cv into it (the drama quotient around here has been at an all-time low ... ;) )

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9 hours ago, shifter said:

Forget the score. What are you thinking apping a HELOC with a subprime CU??! 

 

Are you going hoping for a close in 2022?

It was a long and difficult decision-making process.  🦕

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2 hours ago, DebtFreeIn04 said:

Steady at 662. Should start creeping up during the long hot Summer!

I'm stalled at 661. Nothing is moving, it sucks!

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On 5/29/2020 at 10:18 PM, smartlypretty said:

I'm stalled at 661. Nothing is moving, it sucks!

Depending on what is on the report or current holdings, it is not at all uncommon to see both FAKO *and* FICO stagnant for multiple months in a row.  Some of us doing an AZEO plan routinely see that and only see movement with an inquiry and new account. 

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On 5/19/2020 at 10:33 PM, shifter said:

Forget the score. What are you thinking apping a HELOC with a subprime CU??! 

 

Are you going hoping for a close in 2022?

 

On 5/19/2020 at 11:18 PM, hdporter said:

 

I keep privately goading cv into it (the drama quotient around here has been at an all-time low ... ;) )

Oh, the vitriol is on its way.

 

We applied with DCU on 5/14.  House was appraised the following week, and we were conditionally approved on 6/9.

 

Since then we've been waiting for the underwriter to inspect a new homeowners insurance declaration page I submitted on June 10.

 

This document is identical to the one I submitted on May 15 except it shows DCU as a second lien holder.

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On 7/8/2020 at 10:23 AM, cv91915 said:

Since then we've been waiting for the underwriter to inspect a new homeowners insurance declaration page I submitted on June 10.

Well, that puts you just about on target for the 2022 close I mentioned.

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8 hours ago, shifter said:

Well, that puts you just about on target for the 2022 close I mentioned.

Great news!  It only took them 39 days to verify that their name had been added to that one-page document.  

 

 

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