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I have an account I opened as a teenager that's on my TU report, it makes my TU history 20 years old and puts me in a bad bucket. My AAoA of 6 years is too low for this bucket. This sounds crazy to say this......but.....I'll be kind of glad when it falls off my report and TU goes to a 13 year history like my other 2.
What if buckets and scorecards turn out to be a myth, started by programmers, as an excuse for bizarre behavior of buggy credit scoring software?
@axxy wrote:What if buckets and scorecards turn out to be a myth, started by programmers, as an excuse for bizarre behavior of buggy credit scoring software?
I really doubt that since FICO themselves say there are buckets. We just don't all of what they are or how they work.
@axxy wrote:What if buckets and scorecards turn out to be a myth, started by programmers, as an excuse for bizarre behavior of buggy credit scoring software?
Here's a thread that discusses the various buckets:
I've read that FICO 08 has around 12-16 buckets.
The concept of bucketing makes a lot of sense, in that it might be difficult to compare the behavior of 19-year-olds with people who have had credit for 40 years.
@notfancy wrote:Hate to bump and aged thread, but this is a very helpful read! I'm glad Lexie referred to it in another post. I learned something and when I get home later, I'll have the time and desire to read all of this thoroughly!
Agreed.