@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Say what you want, but multiple data points indicate that the CK score is consistently close if not equal to your FICO 04 score. Useless? I don't think so.
I haven't even begun to look at my FICO 04 score because I'm not planning on purchasing a home for another 2+ years. So given my current goals (rebuilding), CK is useless.
Furthermore, I don't think it's a good idea to use CK as a go-to indicator of what your FICO 04 score will look like. There are multiple rules on CK that will clearly ruin your score in the long run if you follow them religiously.
I.e. Closing new accounts out so they don't affect your AAoOA. CK doesn't even count my 1.5 year old 60 day late payment because the account has been closed since then. According to CK, I have made 100% of my payments on time. How on earth can that be an indication of what your FICO 04 will look like?
I don't say their logic or advice is always sound, I am saying that, surprisingly, their scores tend to coincide with one of the few significant FICO scores (among the 49 FICO scores) we all have.
Suppose someone gives you a parrot that recites upcoming the lotto numbers, consistently. You test it one week, without playing, and it's right... do you play the numbers for the week after or refuse because it makes no sense? I would take the numbers.
And, BTW, along with great information, there is PLENTY of wrong advice on this boards as well.
I see your point. So beyond using CK for an "educational" ballpark guess at your FICO 04 score, it probably isn't much more helpful. Based on what I learned today, CK is fundementally risky to use as a day-to-day monitoring service if you're rebuilding or hoping to finance a large purchase. To me, the fact that CK is so prone to "ignore" baddies on a CR is worrisome and invalidates it as a comparable model to something as strict as FICO 04. I understand what you're saying now: the scores CK spits out may correspond with FICO 04 - and it stops at that; the score. But it seems like an extreme YMMV type of situation. Especially with people like myself who are rebuilding and have all sorts of funkiness on their reports.
For instance, I have a total of five baddies on my reports: four COs (six years old), one 60 day late (1.5 years old). A FICO 04 lendor pull from about one year ago called these baddies out. My FICO 08 pulls call these baddies out as well (primarily the 60 day late). CK acts like those baddies never happened. So even if CK was the parrot and somehow squaked out the same/similar score to FICO 04, I wouldn't be able to do much with that - becuase I'm willing to bet that any lendor that uses the FICO 04 will absolutely care about the baddies that CK is prone to ignoring (that's just my own speculation).
As for your callout on bad advice - I hear ya. I think it's everyone's responsibility to do their own research and validate other's advice on their own terms. I personally take everything I read with a grain of salt until I find a secondary source to confirm. For instance, I still don't know if IIB accounts are calculated toward your score or not. I've gotten mixed responses from multiple people on this board and it's clearly something that no one is sure of - so because of that, I haven't stopped trying to GW those accounts off my records.
