Comparing the consumer accessible credit scores

Does anyone else's Credit Karma graph look like this?



My credit report updates every week, but the score only changes every 4-5 weeks.

someweirdo wrote: ↑ Does anyone else's Credit Karma graph look like this?



My credit report updates every week, but the score only changes every 4-5 weeks.

Same, unless I have a new trade or inquiry. My revolving balance hasn't changed much due to 0% mbna BT but when it changes greatly I'd probably expect a score change within a week of that as well.

someweirdo wrote: ↑ Does anyone else's Credit Karma graph look like this?



My credit report updates every week, but the score only changes every 4-5 weeks.

Prior to July, I was seeing material changes in my score in the weekly updates. Since then, it rarely changes week-to-week, even when there were material changes on my report like new hard pulls.
My score went up by 2 points on 7-24, and then didn't move until 10-01, when it went up by 18. My revolving utilization stayed between 10 and 19% during that interval, and then dropped to 5% on 10-01. I'll be watching for a new trade showing up mid-Oct, which should cause my score to drop.

This reddit posts has the best description of Fico 8 that I've seen:
https://www.reddit.com/r/churning/comme ... ngineered/
One factor not mentioned in the post that seems to have a tangible negative impact is high utilization on new trades. My data points suggest this is more significant with ERS than with CreditVision.

someweirdo wrote: ↑ Does anyone else's Credit Karma graph look like this?



My credit report updates every week, but the score only changes every 4-5 weeks.

no, mine looks like this

:-)

CBC Marketplace this week had a teaser at the end that they are going to air a piece on consumer credit scores next week. It looks like the are going to focus on how scores can be very different from different sources, how they can change significantly for trivial reasons, and how little credence they are given by outfits like car dealers.

ROYinTO wrote: ↑ Do you know what caused the drop? Can't be all that bad because you left a smile.

nothing derogatory.

I had 2 hard pulls and opened 2 additional accounts.

I've figured out (with the CreditVision Risk Score [for me]) that when the total accounts opened in last 2 years is less that accounts open longer than 2 years - it goes up 100 points or so. (and drops back down when the equation reverses).

ROYinTO wrote: ↑ With 17 accounts opened in the last 2 years that would give you some good DP's.
Churning?

yes - opening too many accounts for welcome bonuses, (Also offered a few lines of credit)

Scote64 wrote: ↑ CBC Marketplace this week had a teaser at the end that they are going to air a piece on consumer credit scores next week. It looks like the are going to focus on how scores can be very different from different sources, how they can change significantly for trivial reasons, and how little credence they are given by outfits like car dealers.

Thanks for mentioning this! Here's the video for anyone wanting to watch it:
https://www.cbc.ca/marketplace/episodes ... edit-score

Some good related reads:

• https://www.cbc.ca/marketplace/blog/sco ... es-we-dont
• https://www.cbc.ca/marketplace/blog/company-statements2

nerdralph wrote: ↑ This reddit posts has the best description of Fico 8 that I've seen:
https://www.reddit.com/r/churning/comme ... ngineered/
One factor not mentioned in the post that seems to have a tangible negative impact is high utilization on new trades. My data points suggest this is more significant with ERS than with CreditVision.

Way too many generalizations and some incorrect info:
- #accounts reporting balances (EQ has different thresholds compared to TU and EX)
- AoOA breakpoint is somewhere around 7 yrs 8 months to get into the 850 scorecard
- AoYA point penalty completely off; I was dinged 10-15 points on each bureau going from 12+ months to 0 (new account)
- AoYA has potential breakpoints 3, 6, and 12 months depending on your exact scorecard assignment
- inquires may or may not lose their impact a 6 months depending on your scorecard assignment

and a bunch more I won't waste my time on. The bottom line is, there eight, EIGHT "clean" FICO 8 scorecards, each with different score ceilings and weights. Anyone that gives you a single number instead of a range is just generalizing and oversimplifying things.

Anyway, if you're really that interested in the inside scoop, I highly recommend checking out the myFICO forums, which is probably where that guy plagiarized most of the material anyway: https://ficoforums.myfico.com/t5/Unders ... icoscoring

arkane wrote: ↑ The bottom line is, there eight, EIGHT "clean" FICO 8 scorecards, each with different score ceilings and weights. Anyone that gives you a single number instead of a range is just generalizing and oversimplifying things.

OK, that explains some inconsistencies I've noticed. That means the impact of a change like a new inquiry would be determined by the scorecard used.
After researching the scorecards a bit, I see there are 8 clean (no 90+d late), and 4 derog scorecards. This certainly makes decoding FICO 8 more interesting...

I discovered something interesting about Credit Karma. A couple weeks ago I noticed that although they update my credit report every week, they only update my score about once a month. I think I now know why this happens.



I decided to get Transunion's Online Consumer Disclosure and found it has way more detail than what Credit Karma or Borrowell provide. Under Non-Credit Related Inquiries, it lists CREDIT KARMA once a week on the same day I've gotten my updates, which makes sense.

But there are a few times where, two days before a CREDIT KARMA inquiry, I also have a CREDIT KARMA_ALERTS inquiry. This matches up with the times my credit score has updated, with it remaining unchanged the rest of the time.



This doesn't explain why Credit Karma chooses to update my credit score so infrequently. But at least it shows that CREDIT KARMA inquiries are for credit report updates and CREDIT KARMA_ALERTS inquiries are for credit score updates.

I'm also curious why the CREDIT KARMA_ALERTS inquiries come two days before my actual Credit Karma profile updates.

One more thing: Does anyone have any idea why I have an Account Review Inquiry from Statistics Canada? I can't imagine why StatsCan would need to see my credit report.

ROYinTO wrote: ↑ StatsCan soft hits have been mentioned in the forums before. Here is a link to a news report:
https://globalnews.ca/news/4610259/stat ... reau-data/

That's interesting. However, the article says the requests occurred in October 2017 and January 2018, while mine was in October 2018. So I guess it's an ongoing thing.