FICO Scoring Buckets (or "Scorecards")

[haulingthescoreup]

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@athensguy wrote:

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@Anonymous wrote:

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jbh wrote: I read that there is really no such thing as an 850 score. This was a quote from a spokesperson who worked at Fair Issac.

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That would be cruel. I'd be playing a game with no possible ending.

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Au Contraire, it will be over you just won't realize it

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No closure in FICO scoring, lol.

[marty56]

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ilovepizza wrote:
That would be cruel. I'd be playing a game with no possible ending.

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That depends on your end game.

My primary goal was to get the best autoloan rate at my CU that I could which I have accomplished.

My next goal is to break 800 which I have to wait for 4 years for my 120 day late to fall off.

My final goal is to be the only  member of the 800 club here to be denied by BofA for a credit card and have a BofA checking account with 1 dollar in it which just sits there.  I will use the night deposit box and leave a deposit slip with the words: Maybe next month on it.

Okay maybe I wont do the last one but is fun to thank about it.

[Anonymous]

I found 10 scorecards for "Classic" TU model for 2/2004 (page 25). I was not able to find a number of scorecards for Eq and Ex.

[Anonymous]

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@Anonymous wrote:

FICO Scoring Buckets (scorecards
#8 - 5-12 years oldest TL
#9 - 12-19 years oldest TL

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@Anonymous wrote:
I reviewed today 2 CRs with 0 negs, both with oldest accounts just 12 yrs old. They had different number of inqs and different number of total accounts. Neither were thin files. Both had installments and revolving accounts.

CR #1 was in bucket "X" (better quality bucket), avg age turned 7+ years and oldest account 12 yrs.

CR #2 was in bucket "Z", (lower quality bucket) had -6 years avg age and oldest account was 12 yrs.

They acted different on the sim so I suspect different buckets. CR #2 was older with more accounts too.

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I would just like to update my post. After going over these 2 credit reports again (for 4 hours I might add) I noticed a very big difference that would cause one to be treated differently. I sometimes see this happen. It's rare so it's easy to think they are different buckets but now I think they are the same bucket just different factors changes them a little. Just because they are scored differently does not rule out in these few cases that they are actually in the same buckets. When I find CRs that have all the same stuff with out some factors they act the same. Then I thought these factors were a bucket them selves but age and other stuff are not acting different which would place them all in the same bucket after all most likely. This was a night of some serious number crunching. Please continue on your bucket age theory.

Message Edited by ilovepizza on 08-29-2008 03:59 AM

[notfancy]

bumping this post so A) I don't lose it again, and B) so people that have had no other changes on their credit report can see this and maybe it will answer their questions about why the heck their score randomly changed.

[New_Beginning]

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@notfancy wrote:

bumping this post so A) I don't lose it again, and B) so people that have had no other changes on their credit report can see this and maybe it will answer their questions about why the heck their score randomly changed.

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Thanks for bumping this....however I am confused on how to determine which bucket I fall in. I have 19 years of credit but I also have lates upward of 150 days from 2008 / 2009. Am I in the negative bucket or the age bucket or both???

[Revelate]

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@New_Beginning wrote:

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@notfancy wrote:

bumping this post so A) I don't lose it again, and B) so people that have had no other changes on their credit report can see this and maybe it will answer their questions about why the heck their score randomly changed.

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Thanks for bumping this....however I am confused on how to determine which bucket I fall in. I have 19 years of credit but I also have lates upward of 150 days from 2008 / 2009. Am I in the negative bucket or the age bucket or both???

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Nearly 100% certain that there's a clean bucket, and q.e.d there's dirty buckets based on derogatories (and anecdotal evidence), AAOA (maybe) or total age (probably not) hard to say, as AAOA would work just fine as it's calculated seperately in the algorithm and as such might not add much value to including as a bucketing factor.  Not likely on total age as that's just earliest credit date, and 1 tradeline from 40 years ago and 39 from last month, is way different than 40 tradelines for 40 years.

Anyway everyone gets sorted into one bucket which is a combination of factors we just don't know what all those factors happen to be.

[New_Beginning]

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@Revelate wrote:

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@New_Beginning wrote:

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@notfancy wrote:

bumping this post so A) I don't lose it again, and B) so people that have had no other changes on their credit report can see this and maybe it will answer their questions about why the heck their score randomly changed.

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Thanks for bumping this....however I am confused on how to determine which bucket I fall in. I have 19 years of credit but I also have lates upward of 150 days from 2008 / 2009. Am I in the negative bucket or the age bucket or both???

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Nearly 100% certain that there's a clean bucket, and q.e.d there's dirty buckets based on derogatories (and anecdotal evidence), AAOA (maybe) or total age (probably not) hard to say, as AAOA would work just fine as it's calculated seperately in the algorithm and as such might not add much value to including as a bucketing factor.  Not likely on total age as that's just earliest credit date, and 1 tradeline from 40 years ago and 39 from last month, is way different than 40 tradelines for 40 years.

Anyway everyone gets sorted into one bucket which is a combination of factors we just don't know what all those factors happen to be.

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Thanks!

[HiLine]

Lots of insight on scoring buckets in this thread

[Anonymous]

This is from FICO and explains how the "buckets" work. http://www.fico.com/en/node/8140?file=7900

You belong to multiple "buckets" at a time. ie - mortgage yes or no, revolving accounts yes or no, AoC is a bucket, AAoA is a bucket, collections or PRs yes or no, etc....

Each bucket has multiple "bins" that rank your risk in that bucket - low, med, high, and inbetween..... 

So for example looking at how credit lines reporting balances is affected by other buckets....a person with a mortgage with long ontime payment history, can have 2 credit cards report a balance and not see a score change, where a person without a mortgage would see a score impact if 2 cards report a balance instead of just 1. 

Age of credit at certin bins will give greater or less weight to both positive and negative things in other bins. So will new credit within the past year as a bucket - as a yes or no - a no will drop you in 1 bin in that bucket and yes will drop you in a different bin in that bucket. If yes - because it makes you a greater credit risk - anything negative in your file will be amplified making it more negative and the positives will become less positive - ie with new credit in the past year you may need to keep less than 5% CC utilization to get the same score you previously had with 9% utilization because the weighing factors change.