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Frequent Contributor
Posts: 431
Registered: ‎05-23-2013
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Re: The many flavors of FICO:__Editions, versions, and variations


guiness56 wrote:

I know my mom had a 829 about 5 years ago.


 

Was this EQ04?

Myfico scores.....
EX... 805 (11-10-13)
EQ... 810 (12-02-13)
TU... 810 (12-02-13)
Epic Contributor
Posts: 22,398
Registered: ‎01-17-2008
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Re: The many flavors of FICO:__Editions, versions, and variations

Yes.

 

But now that I think about it, it could have been an auto enhanced score.

Frequent Contributor
Posts: 431
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Re: The many flavors of FICO:__Editions, versions, and variations


guiness56 wrote:

Yes.

 

But now that I think about it, it could have been an auto enhanced score.


 

Have you heard of anyone on this forum with a >818 EQ04?

Myfico scores.....
EX... 805 (11-10-13)
EQ... 810 (12-02-13)
TU... 810 (12-02-13)
Established Contributor
Posts: 822
Registered: ‎09-13-2009
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Re: The many flavors of FICO:__Editions, versions, and variations


jello77 wrote:

 

 

Accounts that are open but inactive

FICO 8 is more aware of which accounts have been inactive with a 0 balance for a long time, and those accounts will factor less into your score.



How does FICO differeniate between accounts that are reporting a 0 balance due to inactivity over the accounts that are just 0 balance because of PIF every month?  Is it because of the date of last status reported??

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Registered: ‎12-30-2011
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Re: The many flavors of FICO:__Editions, versions, and variations


JagerBombs89 wrote:

jello77 wrote:

 

 

Accounts that are open but inactive

FICO 8 is more aware of which accounts have been inactive with a 0 balance for a long time, and those accounts will factor less into your score.



How does FICO differeniate between accounts that are reporting a 0 balance due to inactivity over the accounts that are just 0 balance because of PIF every month?  Is it because of the date of last status reported??


Date of last status reported and there's a "Inactive' flag which can be associated with a tradeline and cause it to be discounted from scoring as I understand it.

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 693, EX 2 719, EQ 8 732, TU 8 732, EX 8 728 (2/01/17)
Goal Score:    EQ 5 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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Re: The many flavors of FICO:__Editions, versions, and variations


Kratos-TM wrote:

I know this is an old thread, but I'm still wondering if the 818 max score for EQ Beacon 5 is still legit. Seems I've seen some members here lately with higher than that from EQ04.


I had a 807 from EQ Beacon 5 - Canadian version (300-900) and I only hit the 76 percentile meaning 24% of Canadians had a HIGHER score than that.

 

Hence the reason for the extended range since Canadians by and larger have much lower credit default rates than Americans.  Ex. 29% of Canucks have a 1% or less liklihood of defaulting vs. 13% and at the other end of the scale only 4% CDN have a >50% risk of defaulting vs. 15% US.

AMEX_PlatinumBMOWorldMCCapOnePlatinumMBNA_Platinum+ScotiaMomentum
____25k________25k________20k________31k________25k___
Starting Score: 732 October 2007; Current Score: 785 EQ; TU 806, February 2017;
Oldest Reporting Account: 15.1 years; EQ AAoA: 7.0 years; typical credit utilization 1.2% typical single card utilization 8.3%
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Posts: 29,980
Registered: ‎12-13-2013
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Re: The many flavors of FICO:__Editions, versions, and variations

Thanks OP very informative.

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Posts: 8,198
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Re: The many flavors of FICO:__Editions, versions, and variations

When I started on this forum (2007) getting FICO scores from here was a great idea, and truly indicative of one's credit status.  Nowadays - not so much. There are so many "real" scores that lenders actually use, so many versions of FICO, that it is becoming a total crapshoot

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But to find a graceful way of staying slid
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Posts: 26
Registered: ‎11-29-2013
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Re: The many flavors of FICO:__Editions, versions, and variations

Re: Fico 98, Equifax Beacon 96.

 

A few weeks ago I applied for a mortgage and received a response showing my credit scores and models used.  Lender had used Equifax Beacon 96.  This seems to conflict with your statement  that “Equifax stopped using this version in 2005”. The score matches closely with whatever Equifax  version is presented through MyFico.   We’ll see if it keeps tracking  as closely as of the most recent “upgrade”  of the model that happened on May 17.       

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Re: The many flavors of FICO:__Editions, versions, and variations


tketch wrote:

Re: Fico 98, Equifax Beacon 96.

 

A few weeks ago I applied for a mortgage and received a response showing my credit scores and models used.  Lender had used Equifax Beacon 96.  This seems to conflict with your statement  that “Equifax stopped using this version in 2005”. The score matches closely with whatever Equifax  version is presented through MyFico.   We’ll see if it keeps tracking  as closely as of the most recent “upgrade”  of the model that happened on May 17.       


What type of mortgage was this in particular and from what lender?  That individual score wouldn't be for a conventional guarunteed unless the bank in question was portfolioing their conventional mortgages... which is pretty much unheard of for nearly the last decade or longer.

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 693, EX 2 719, EQ 8 732, TU 8 732, EX 8 728 (2/01/17)
Goal Score:    EQ 5 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


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