Understanding FICO® Scoring

[pepper]

As a result of a recent line of credit application, I received a statement, from Experian, of my credit score.  They claimed that it was a FICO score of 865.

The statement, and everyting else I am able to find, indicates a possible score range of 300-850.

1.  Is it really possible to have a score of 865 (15 points over the maximum)?

2.  How?

[fused]

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pepper wrote:

As a result of a recent line of credit application, I received a statement, from Experian, of my credit score.  They claimed that it was a FICO score of 865.

The statement, and everyting else I am able to find, indicates a possible score range of 300-850.

1.  Is it really possible to have a score of 865 (15 points over the maximum)?

2.  How?

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Lucky you! Sounds like a FAKO score! Read this!

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=2654

[Skiffy]

Not necessarily. Some FICO scorecards go up above 850. We just don't have access to those scoring models as consumers.

[fused]

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Skiffy wrote:
Not necessarily. Some FICO scorecards go up above 850. We just don't have access to those scoring models as consumers.

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I forgot, you are correct!

[fused]

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pepper wrote:

As a result of a recent line of credit application, I received a statement, from Experian, of my credit score.  They claimed that it was a FICO score of 865.

The statement, and everyting else I am able to find, indicates a possible score range of 300-850.

1.  Is it really possible to have a score of 865 (15 points over the maximum)?

2.  How?

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Did you apply for a mortgage?

[pepper]

I applied for a Home Equity Line of Credit.

[fused]

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pepper wrote:

I applied for a Home Equity Line of Credit.

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Bingo! Yes, there are scores that some lenders pull which I'm not sure if they are FICO. Tuscani or Noah any ideas?

[Revike]

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pepper wrote:

As a result of a recent line of credit application, I received a statement, from Experian, of my credit score. They claimed that it was a FICO score of 865.

The statement, and everyting else I am able to find, indicates a possible score range of 300-850.

1. Is it really possible to have a score of 865 (15 points over the maximum)?

2. How?

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Was your application approved or denied? It seems quite unusual for Experian to send you a "statement" that would include your score. Was there any reference to the specific name of the credit score, such as "Fair Isaac Risk Model" or "FICO II"?

The Auto Industry Option FICO has a higher score range than the classic FICO, but most lenders who deal with mortgage-related loans and lines of credit seem to pull the classic score. This is the first example I've read of a mortgage-related loan/LOC FICO score having an extended range.

[pepper]

I was approved for the Line of Credit.  THe statement about my credit score was sent to me under a Bank of America form cover letter.  The statement header indicated that Experian provided the credt score, and it also indicated that it was a classic FICO score.

The statement indicated that the score was determined as of July 10, 2007.

My business partner thinks I'm crazy getting worked up over this.  I just wonder how I can get a score over 850.  It just doesn't make sense to me.

[Tuscani]

Hmm.. Unless something changed recently... the classic score is capped at 850. The only excpetions are the industry option scores which go to 900. They are probabaly using the bank installment option and don't realize there is a difference.