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TU FICO8 decrease (25 pts)


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No I am not concerned about it...but figured I would post to show WHY it doesn't matter.

 

For the past few months, I have been running at 850.  The score from this week per one of the cards has me at 825, a decrease of 25 points.

 

The two most notable changes are that there are no revolvers showing a balance.  I killed off the remnants of a 0% BT and wanted to weigh the impact of score when ONLY the AXP Plat was reporting and whether Plat factored into AZEO.  With respect to this element of the two changes, we can effectively rule out charge card being a variable for the component related to the reason of "no recent bank/credit card balance" or whatever the specific language is on that reason for why the score was not higher.  Across the past year, it has been rare that there was more than $1K reporting on the AXP since I have not done as much traveling, but it did at least get up close to $2K in the past few months.  The movement between January and February had no impact on score since both months were an 850. 

 

The other significant change is related to a new account reporting.  I have to say that I was quite surprised at JUST how quick the Chiti account reported.  Approved one day and it was reporting the next.  There were no hard inquiries on the TU account related to this new account.  No balance transferred to the card, so it is just sitting with the zero balance and less than one month of age.  

 

The only other changes, of note, between the 850 months and this month's scoring is that I have increased the line on an occasionally-used account and the residual balance on the open loan decreased.  The loan gets killed pretty quick, at which point I get to visit the impact (negligible based on past experience) with the loss of an active loan.  I expect that won't move the score needle more than a point or two, if that much. 

 

I should also have a view of the Vantage impact in the coming days when one of the accounts that gives the TU FAKO is updated. 

 

I'll likely let something report a $10 balance to gauge the points gained by returning to AZEO.  Or not...LOL!

 

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For point of reference, a different card which offers the TU Bankcard FICO8 (900 point scale) had me at 897 prior to the aforementioned two significant changes.  The next update on that one should come next week, so again, we will be able to gauge impact upon two different models using the same data.

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  • 3 weeks later...
On 3/15/2021 at 2:43 PM, centex said:

For point of reference, a different card which offers the TU Bankcard FICO8 (900 point scale) had me at 897 prior to the aforementioned two significant changes.  The next update on that one should come next week, so again, we will be able to gauge impact upon two different models using the same data.

Finally got the update on the TU BankCard 8...dropped to 862. 

 

The two reasons cited were "time since opening of most recent account opening is too short" and "no recent bank/national revolving balances."

 

Still waiting for the FAKO, err Vantage 4.0 to update...looks like that should be in a few days. 

 

Vantage 3.0 seems to have been a net blip of -3 based upon the Chase Journey nonsense. 

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Citi is apparently using Equifax to offer a FICO score...it was a new account, so the score just became available.  It matched the TU BankCard 8, which was not a surprise given that the data is essentially the same.  Different inquiries and dates, but the same NUMBER of inquiries, with accounts reporting in the same manner. 

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  • 2 weeks later...

The 825 is up to 840 after a recent update and my having allowed a sub-$20 balance to report on a card. 

 

So...with AZEO, impact of a new account appears to be ten points on a bureau that was not subjected to a hard inquiry. 

 

FICO BankCard9 is at 824 but has not updated since March 10th.  It uses EXP which also has eight or nine inquiries showing...

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  • 3 weeks later...
On 4/1/2021 at 6:54 AM, centex said:

Finally got the update on the TU BankCard 8...dropped to 862. 

 

This one finally reflected an update and a gain of 17 points with a tiny balance having been allowed to report. 

 

This would tend to suggest a new account on THIS model is good for a drop of about 15-20 points assuming all else is in order. 

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