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Valued Contributor
Uborrow-Upay
Posts: 2,708
Registered: ‎10-16-2008
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Re: Credit Card Usage for high FICO score

Very interesting, indeed.

 

I just looked again at this thread, and hobojon pointed out there something I didn't know about Amex:

 

 "That may be because of Amex's unique policy that states that the AU are liable for their charges if the primary card holder doesn't pay. Don't Amex AU cards have different card numbers than the primary user? I believe Amex even reserves the right to pull an AU credit report."

 

Tracking usage could be very easy, on the lender side of the equation.  Matching addresses, too.

 

Moot anyways, as has already been pointed out.

Senior Contributor
creditwherecreditisdue
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Registered: ‎04-19-2009
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Re: Credit Card Usage for high FICO score

[ Edited ]

hobojon wrote:

creditwherecreditisdue wrote:

As for:

patent-pending technology that includes AU data in the calculation of scores, while reducing potential impact from tampering

I suspect that doesn't go a whole lot deeper than weeding out AU's that are never used. I don't think enough information is collected by the CB's on accounts to go much further than that.


 

How could they determine if the lines weren't being used verses just PIF before the statement cuts?

Forcing a consumer to carry a balance so their AU beneficiaries accounts get factored into the score probably wouldn't go over too well.

 


 

Which is why the whole matter of excluding certain AU's is very very shakey. If they are concerned about complying with some future interpretation of a law, they are going to have to allow most of them in.
Message Edited by creditwherecreditisdue on 07-16-2009 08:35 AM
Frequent Contributor
hobojon
Posts: 261
Registered: ‎01-20-2009
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Re: Credit Card Usage for high FICO score


creditwherecreditisdue wrote:

hobojon wrote:

The rumors I have heard are that it will look at the addresses and see if they match (which could be problematic)


Match which addresses and how? I have one past address that EX has seven different address records for, The only reason they can resolve an address match is due to the fact that they are tied together by my accounts.


hobojon wrote:

They will allow all AU accounts to report but they will only allow one of the tradelines to be used as a factor for the fico score (How they choose which one is beyond me)


Lots of luck on that one. Would it be the oldest or the one with the highest CL or the one with the greatest utilization or...


You must not be directing these questions to me as I clearly stated that these are rumors and I have expressed my doubts myself on each count in the OP.

Frequent Contributor
hobojon
Posts: 261
Registered: ‎01-20-2009
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Re: Credit Card Usage for high FICO score


Uborrow-Upay wrote:

Very interesting, indeed.

 

I just looked again at this thread, and hobojon pointed out there something I didn't know about Amex:

 

 "That may be because of Amex's unique policy that states that the AU are liable for their charges if the primary card holder doesn't pay. Don't Amex AU cards have different card numbers than the primary user? I believe Amex even reserves the right to pull an AU credit report."

 

Tracking usage could be very easy, on the lender side of the equation.  Matching addresses, too.

 

Moot anyways, as has already been pointed out.


Yes that would work, except that is unique to Amex.

If they could get all issuers to issue unique card numbers for the primary and AU they should be able to exclude people gaming the system easier. I have a feeling that the scummy companies that sell aged tradelines would find a way to circumvent most anything though. They would just have the primary card holder use the AU card instead of their own and the AU would still never have posession of the card.

Valued Contributor
Uborrow-Upay
Posts: 2,708
Registered: ‎10-16-2008
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Re: Credit Card Usage for high FICO score

What is not unique to Amex is that the credit cards issued include the name of the AU, on the embossing and the mag strip.

 

I agree that a valid AU account would/could be put to use by the primary.  But would a primary do that for a bogus, piggybacked AU for pay?  Maybe.

 

This is all speculation anyways, but highly interesting.  We've got some passionate folks on these boards, I'm one of 'em, too!

 

 

 

 

Frequent Contributor
hobojon
Posts: 261
Registered: ‎01-20-2009
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Re: Credit Card Usage for high FICO score

It wouldn't surprise me if the company that brokered the tradeline took posession of the AU card themselves. Had the AU and primary card holder sign a release so they could swipe the card at the pump for $1 worth of gas once a month. Something like that. Who knows.
Valued Contributor
Uborrow-Upay
Posts: 2,708
Registered: ‎10-16-2008
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Re: Credit Card Usage for high FICO score

I wonder whatever happened to Goal800, our original poster?

 

If you're still here, Goal800, welcome to the forum!

Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: Credit Card Usage for high FICO score

[ Edited ]

This is the video referenced by llecs which contains FICO's comments on the matter of AU's in FICO 08:

 

http://www.youtube.com/watch?v=IIXKHki4-9g&eurl=http%3A%2F%2Fbrblog%2Etypepad%2Ecom%2Ftechtalk%2Fpag...

Message Edited by creditwherecreditisdue on 07-16-2009 09:05 AM
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: Credit Card Usage for high FICO score

And here is what someone else has to say on the matter of AU's in FICO 08:

 

http://www.youtube.com/watch?v=hIi73_vDye8&feature=related

Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009
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Re: Credit Card Usage for high FICO score

Does anyone know which FICO model the score provided by transunioncs is based on? If it is FICO 08 I like it.

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