I haven't seen another post on this yet, but I do apologize if this is a repeat...
Does anyone know if FICO 08 has already gone into effect?
I have a WAMU card and I just received an email that my credit score increased (it just jumped up by 37 points, TYVM! 
). The email also said:
). The email also said:Although FICO(R) scores can change over time based on changes in your
credit file, we want to let you know that a recent update to the FICO scoring
system may result in an additional change to some people's FICO scores. Our
system has been updated to return the most recent version of FICO score, so
you might see a different score the next time you visit the site. We expect that
most people will see a relatively small change in their score as a result of this
update.
Fair Isaac--the company that developed the FICO score--changes the
scoring model periodically to reflect the current lending environment. This
updated version of the model ensures that the FICO score continues to be
reliable, consistent, and powerful risk assessment tool.
credit file, we want to let you know that a recent update to the FICO scoring
system may result in an additional change to some people's FICO scores. Our
system has been updated to return the most recent version of FICO score, so
you might see a different score the next time you visit the site. We expect that
most people will see a relatively small change in their score as a result of this
update.
Fair Isaac--the company that developed the FICO score--changes the
scoring model periodically to reflect the current lending environment. This
updated version of the model ensures that the FICO score continues to be
reliable, consistent, and powerful risk assessment tool.
Does this mean they are now using the new equation?
Message Edited by massagemama on 02-21-2008 07:09 AM
Message Edited by massagemama on 02-21-2008 07:10 AM
I'm still getting credit for being AU on the Discover card--I can tell because it's my oldest account on EQ and TU--so I don't think it's happened yet, at least not across the board.
@Anonymous wrote:
I haven't seen another post on this yet, but I do apologize if this is a repeat...Does anyone know if FICO 08 has already gone into effect?I have a WAMU card and I just received an email that my credit score increased (it just jumped up by 37 points, TYVM!Although FICO(R) scores can change over time based on changes in your credit file, we want to let you know that a recent update to the FICO scoring system may result in an additional change to some people's FICO scores. Our system has been updated to return the most recent version of FICO score, so you might see a different score the next time you visit the site. We expect that most people will see a relatively small change in their score as a result of this update.
Fair Isaac--the company that developed the FICO score--changes the
scoring model periodically to reflect the current lending environment. This
updated version of the model ensures that the FICO score continues to be
reliable, consistent, and powerful risk assessment tool.
Does this mean they are now using the new equation?
One possibility: TU commissioned a new scoring system (pre-FICO 08) a while back, and creditors have been slowly switching over to it from the old one. Maybe WaMu went ahead and switched, although that seems odd if they're anticipating FICO 08 to start soon. And I agree about the key phrase being "next time you visit the site."
Interesting! thanks for posting this.
Which CRA score does this refer to?
massagemama wrote:I haven't seen another post on this yet, but I do apologize if this is a repeat...Does anyone know if FICO 08 has already gone into effect?I have a WAMU card and I just received an email that my credit score increased (it just jumped up by 37 points, TYVM!
Dawn wrote:Which CRA score does this refer to?
massagemama wrote:I haven't seen another post on this yet, but I do apologize if this is a repeat...Does anyone know if FICO 08 has already gone into effect?I have a WAMU card and I just received an email that my credit score increased (it just jumped up by 37 points, TYVM!
The PFICO you get from WaMu comes from TU.
From what I hear, FICO 08 isn't here yet. (Yet.) Those of us with AU accounts that significantly affect our reports and scores (age, util, etc.) will probably find out PDQ when it happens! 