Reply
Regular Contributor
Posts: 199
Registered: ‎05-29-2008
0

transunion and new fico

any one know how transunion will be coding charge cards once the new fico is released. so far they are still factoring my charge card into my utility.

 

thanks

Moderator Emeritus
Posts: 16,375
Registered: ‎03-12-2007
0

Re: transunion and new fico

The TU score pulled at this site is TU 98 and all cards are factored in revolving util calculations. The TU 04 scoring model used by some lenders, banks and CCCs, will code charge cards like Amex as open accounts and they do not factor in revolving util calculations.
Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1

Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring Mastercard ~ Chase Freedom Visa ~ CITI Dividend Platinum World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Regular Contributor
Posts: 199
Registered: ‎05-29-2008
0

Re: transunion and new fico

any idea of when will they start using the TU 04 on this site? it would be nice for a consumer to get the same scores the lenders and banks get to see.

 

thanks


fused wrote:
The TU score pulled at this site is TU 98 and all cards are factored in revolving util calculations. The TU 04 scoring model used by some lenders, banks and CCCs, will code charge cards like Amex as open accounts and they do not factor in revolving util calculations.

 

Moderator Emeritus
Posts: 16,375
Registered: ‎03-12-2007
0

Re: transunion and new fico

no word yet. It's estimated that maybe half of all lenders, banks and CCCs who pull FICO scores are utilizing the TU 04 model.
Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1

Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring Mastercard ~ Chase Freedom Visa ~ CITI Dividend Platinum World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.