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New Member
SundanceMike
Posts: 3
Registered: ‎04-10-2007

All 3 bureau reports are missing over 15 years of my credit history

I worked for FICO for a time during the time that we were developing the FICO scoring product and I also worked as an executive for Trans Union and other credit reporting entities for over 20 years.   After owing my own software consulting business for 10 years after leaving the credit industry, it is interesting to see that the FICO score is now a generic commodity product that is known by almost every single credit-active consumer in the country.
 
I decided to purchase the MyFICO product for all 3 bureaus with the identity theft protection since I am now retired and know how big a problem this is -- everyone is at risk.  When I examined my 3 credit profiles, every single one of them was missing over 15 years of my credit history, all of which was positive.  Even though my scores are over 800 (except for 1 score from TU of 780), they would definitely be higher if ALL of my credit history was considered.
 
My missing credit history was from major banks, retailers, and credit card issuers from all over the U.S., and  I lived in Virginia, Illinois, and Ohio for many years before moving back to California.  It looks like most of my credit history from the time that I lived on the east coast of the U.S. is missing --- why would this be?   Does FICO now through out multiple histories from different geographical areas?  This was not the case originally to the best of my knowledge.
 
SundanceMike
Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007

Fair Isaac merely has a scoring system. They maintain no...

Fair Isaac merely has a scoring system. They maintain no credit files as they aren't a credit bureau. EX, EQ and TU maintain credit files. Most negative reporting drops off after 7 years. Positive reporting, by law, can remain forever, but each of the three bureaus maintains their own rules. Sometimes they delete old info, either accidentally or perhaps otherwise. If it's an open account, then contact the bank or creditor and ask them to re-report. If not, then the creditor is under no obligation to do anything.
New Member
SundanceMike
Posts: 3
Registered: ‎04-10-2007

Noah,   Thanks for your input but I know how their system...

Noah,
 
Thanks for your input but I know how their system works -- I worked for FICO for a time and was involved in developing the FICO scoring product when I worked for Trans Union.  The bureaus' computer systems will send multiple credit files to FICO's system, which then scores the credit profiles sent back from the bureau's computer system.  In the case of Trans Union, this can be multiple credit profiles, but normally the multiple files on an individual consumer are combined into a single credit report in the Equifax and Experian systems.
 
I know for a fact that I have been infile in the Equifax system since at least 1974, when I was employed in management at an Equifax affiliate credit bureau in Virginia.  This would make my credit profile an old file, and my credit history over 30 years old, but the report that I got from myFICO says my file is 20 years old... what gives?  I believe that the FICO system is not scoring all of my credit history for some reason!
 
SundanceMike
New Member
SundanceMike
Posts: 3
Registered: ‎04-10-2007

To be clear, the scoring actually happens in each credit...

To be clear, the scoring actually happens in each credit reporting agency's computer system and is delivered simultaneously with the credit report.  FICO develops the scoring algorythm (or model) that is used to compute the score -- and each CRA has their own special FICO scoring model.  
 
My concern had to do with my missing credit history, all of which is positive and would only tend to increase my FICO score.
 
SundanceMike
 
Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007

Again, FICO doesn't store credit files. Only the Big Thre...

Again, FICO doesn't store credit files. Only the Big Three and the smaller ones. Lots of folks regularly report file splits and other lost credit history that ain't nearly as old as yours. I'm given to understand TU has a systems upgrade in the last few weeks, and a number of folks have been complaining about missing information--mostly missing good information.
 
While it is possible that within FICO's algorithms there are holes, that would not make information disappear off your credit reports. Names, addresses, consumer statements and the like appear on credit reports, yet have no effect on one's FICO scores.
 
As you would be aware, some lenders report to all, others to just two, and still others to just one bureau. Also, not every lender accurately reports to all the bureaus to whom they report.
 

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