Money Bags vs MortarBoards

[Junejer]

How much are these codings hurting our scores? EQ, my highest score, has the most errors in coding. They have my SL, Cap1, Associated Bk CC, Citimortgage, Principal Residential Mtg, Homeside Lending, US Bank HELOC, Educators CU HELOC (edit: all with this hobo $ bag). OMG, I hate the thought of trying to clean all of this stuff up.

Message Edited by ByrdMan on 01-05-2008 07:18 PM

[Anonymous]

How funny, I just noticed the money bag for the first time a few days ago and was wondering what it meant. On mine, it is shown only on old/closed accts, only on EQ, and I do have closed accts on EX/TU which have no money bags. Could it mean: *closed* money bag= "no soup....er, I mean, money for you"??

Edited to switch EQ and TU

Message Edited by JayToo on 01-06-2008 03:55 PM

[haulingthescoreup]

I think this is going to wind up being a Barry question.

Poor Barry, we do work him to death!

[Anonymous]

hauling after reading this thread I ran quickly to get my reports. I saw on the myfico that one of my car loans (which is paid and closed) had a money bag on it, so I had to hurry and check. On my reports it still shows as an auto loan-that was the only real problem I noticed about mine.

[haulingthescoreup]

I'm guessing that it's going to wind up being like the white squares and X's on TC reports, even though the data has been updated. More of a display problem than anything else.

[Anonymous]

I agree.

[kbns625]

They MUST be coding them improperly because my scorewatch reason codes list I have 9!!! consumer finance accounts. The moneybags are from consolidated student loans that have been "transferred/sold" and are rated as "TOO NEW TO RATE" but looks like FICO is factoring them as CFA. What a MESS!!! At least it seems I'm not the only one...

Message Edited by kbns625 on 01-06-2008 12:13 PM

[kbns625]

want to add...I actually have 13 money bags (4 from closed charge accounts) but scorewatch seems to be only calculating the student loans and the legitimate citifinancial as CFA.

[Anonymous]

Here is a thread from May wondering the same thing and not figuring out exactly what the money bag icon means.

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=2357

which includes a great suggestion for a new/modified icon from TNWM:

"Heh...there should be a hand holding the money bag, and an arm coming from the other direction, holding a gun pointed in the direction of the person holding the bag. That would be apropo, methinks."

[Anonymous]

TNWM- has this one right!!!

I also wonder if they have to pay Gene Simmons- as he OWNS the trademark for the "Money Bag" logo.

---

JayToo wrote:
Here is a thread from May wondering the same thing and not figuring out exactly what the money bag icon means.

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=2357

which includes a great suggestion for a new/modified icon from TNWM:

"Heh...there should be a hand holding the money bag, and an arm coming from the other direction, holding a gun pointed in the direction of the person holding the bag. That would be apropo, methinks."

---