Understanding FICO® Scoring

[Movin_on_up]

I found this in the Bucks blog in The Times today and thought it might be of interest here: Infographic of all 49 different FICO scores created by John Ulzheimer and Credit Sesame.

http://graphics8.nytimes.com/images/2012/08/24/your-money/bucks-pic-scores/bucks-pic-scores-jumbo-v2...

I'm pouring through it now.  Interesting to have all this info presented like this.

Here's the original article that it's referenced from:  http://bucks.blogs.nytimes.com/2012/08/27/why-you-have-49-different-fico-scores/

[Revelate]

I hadn't realized there was a specific one for a generic installment loan, but I suppose that makes sense.

I think there is one error on it: to my knowledge the mortgage-specific industry option wasn't instituted until the FICO '08 release, and as such the listing for EQ's Beacon 5.0 I suspect is off.

[GregB]

Good catch Revelate.

I found 3 more errors but I'm a business consultant and know a bunch about this field. Most of it is pretty accurate and a step forward in presenting information that people can understand.

What I find amazing are the comments from the general public that follow the main article. I expect the nonsense about we should only have one credit score and the conspiracy theories. Elect specific politicians to "fix" the problem? Fix it by more regulation by the current administration? Seriously?

[Ulz]

HI Greg. Could you please do me a favor and identify the 3 errors that you've found in that graphic?  This is John Ulzheimer and I'm the one who created that graphic. I'd like to correct items that are incorrect. I'll confirm with FICO about the Mortgage Industry Option and BEACON from the other comment. Thanks, John