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PFICO???

Valued Member

PFICO???

Does the P in the PFICO per chance stand for PLUS, as in the EX model on their site? I think I read on here that it is a model used for consumer loans or CC's? Any other info is appreciated.
Message 1 of 9
8 REPLIES
Moderator Emeritus

Re: PFICO???



williewonka wrote:
Does the P in the PFICO per chance stand for PLUS, as in the EX model on their site? I think I read on here that it is a model used for consumer loans or CC's? Any other info is appreciated.


The P in PFICO stands for Providian, since it's available to consumers only through WaMu's (formerly Providian's) CC servicing site.  It has nothing to do with the EX PLUS score.
 
Here's my recent explanation of the PFICO and what it is.
 
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. Smiley Surprised )
Message 2 of 9
Established Contributor

Re: PFICO???

I'm sure the mods will give an even more technical and accurate answer to this but the answer is "no". The EX Plus is a FAKO. PFICO's are real FICO's but use a model more specific to credit card issuers. There are also real FICOs modeled for auto loans but I don't know what those are called.

If you have a WaMu credit card, you get your PFICO for free.
Filed Chapter 13 April 2012. Case successfully closed May 2017, about 1 month after 60th payment. FAKO scores on close date: TU 695 EQ 697. Received discharge July 11th - took forever! Real EX day of discharge 624.
Message 3 of 9
Established Contributor

Re: PFICO???



cheddar wrote:







williewonka wrote:

Does the P in the PFICO per chance stand for PLUS, as in the EX model on their site? I think I read on here that it is a model used for consumer loans or CC's? Any other info is appreciated.





The P in PFICO stands for Providian, since it's available to consumers only through WaMu's (formerly Providian's) CC servicing site. It has nothing to do with the EX PLUS score.


Here's my recent explanation of the PFICO and what it is.









See, I knew a mod would beat me to it! Smiley Happy
Filed Chapter 13 April 2012. Case successfully closed May 2017, about 1 month after 60th payment. FAKO scores on close date: TU 695 EQ 697. Received discharge July 11th - took forever! Real EX day of discharge 624.
Message 4 of 9
Valued Member

Re: PFICO???

OK, so it's Providian's version tailored to their liking. DO other CCC's or lenders have their own tweeked versions as well, and just use them internally?
Message 5 of 9
Moderator Emeritus

Re: PFICO???



williewonka wrote:
OK, so it's Providian's version tailored to their liking. DO other CCC's or lenders have their own tweeked versions as well, and just use them internally?



No, it's not Providian/Wamu's tailored version at all.  It's the bankcard-industry version used by a number of CC issuers, one of which just happens to be WaMu.
 
We call it a PFICO around here because the only place you can get it is through WaMu's CC servicing site.  That doesn't mean it's a WaMu-specific score.
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. Smiley Surprised )
Message 6 of 9
Moderator Emeritus

Re: PFICO???



Math_Rocks wrote:

See, I knew a mod would beat me to it! Smiley Happy

Smiley Wink
 
Good answer, though.

 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. Smiley Surprised )
Message 7 of 9
Valued Member

Re: PFICO???

Gotcha. Thanks for the explanation.
Message 8 of 9
Valued Contributor

Re: PFICO???

Here's a real, substantive question:
 
Why does the PFICO snapshot report I have one "derogatory item" when nobody else does? (TC reports zero derogatories across the board.) Does the Bankcard FICO scoring model use a different defintiion of  "derogatory item"? What gives?
 
 
Message 9 of 9