Understanding FICO® Scoring

[smallfry]

We know that FICO wants to see at least one major bankcard in order to achieve top scores. I know that Chase and Citi fall in this category but for scoring purposes would AMEX too? 

[pizzadude]

Yes, I believe that it counts.

[bettercreditguy1]

Yes, It definitely counts.

[AndySoCal]

The scoring criteria has some reason(s) related bankcard cards.  FICO does differeniate between bankcards.  It is just a differnet loan trype and no more. After  I posted this I remembered another very informative and interesting post. The link is below

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/VERY-interesting-info-about-FICO-score-po...

[pakman92]

Is this for real?  FICO cares which bank you do business with?

[MarineVietVet]

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AndySoCal wrote:

The scoring criteria has some reason(s) related bankcard cards.  FICO does differeniate between bankcards.  It is just a differnet loan trype and no more. After  I posted this I remembered another very informative and interesting post. The link is below

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/VERY-interesting-info-about-FICO-score-po...

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Could you give a source for this?  I can find nothing in the FICO Risk Score Reason Codes that mentions scoring looking at different bankcards.

I went to the link you posted. I will only relate what a high ranking member of myFICO says about the "FICO Scoring Model". Not only is that a "partial" scorecard, it's fake, and used mainly to illustrate how a scorecard works. Do they really think we'd put the real deal out there like that?

[Crashem]

FICO scoring doesn't differeniate between issuers, prime or otherwise.  The only time I have heard of any automated system caring about who issued your card is someone once posting that AMEX based on their internal scoring didn't like a particular issuer.  In that case, the person had an open First Premier account.  That wasn't FICO for sure.  I think you should only really worry about who is issuing is in cases of solely bottom of the barrel issuers like first premier, but even then I doubt it is an issue if your FICOs are decent.

[AndySoCal]

The purpose of the link is not to calculate the score. but that  FICO does  look at bank card(s) in the score calculation. The other point is too many bank cards also does not help your score.  There are score reasons in the FICO score model related to bank cards. The other misconcpetion is that FICO differenctiate between lenders IE prime and sub prime. The only exception to that is consumer finance companies.

[MarineVietVet]

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AndySoCal wrote:

The purpose of the link is not to calculate the score. but that  FICO does  look at bank card(s) in the score calculation. The other point is too many bank cards also does not help your score.  There are score reasons in the FICO score model related to bank cards. The other misconcpetion is that FICO differenctiate between lenders IE prime and sub prime. The only exception to that is consumer finance companies.

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I agree that FICO definitely looks at bankcards but the part of your post though that I was specfically talking about was this: FICO does differeniate between bankcards

I'm wondering what you mean by that. A bankcard is a bankcard.

Pardon me for my confusion.

[AndySoCal]

My bad I left a word out.  I should have said does not.