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Valued Contributor
p-
Posts: 2,539
Registered: ‎06-05-2008

Re: Coming Soon: New Member Ranks


ShanetheMortgageMan wrote:

I am intrigued with the new algorithm.


MyFico is keeping the details under wraps.  From what I understand your ranking is baset on "bucketing".  Items in your Board file such as AAOP (average age of posts), number of posts, utilization (percentage of posts used relevantly), and negative accounts (posts deleted or edited for violating terms) are used to come up with a risk assesed profile bucketing you with other users that have a similar scorecard.

 

These buckets are then divided up into the scoring models, with some buckets limited as to how high they can score.  As your profile changes, you can be moved from one bucket to another, or one branch to another, changing your overall score.  That being said, no one really knows exactly how these algorithms work, and the information above has a high chance of being made up.

 

 

  2-13-14: FICO EXP: 779 - EQU: 742 - TRAN: 765 - AVG: 762 - +212 points from JUN 2008 - MY CREDIT JOURNAL

Moderator Emeritus
beamMEup
Posts: 4,473
Registered: ‎12-31-2008

Re: Coming Soon: New Member Ranks

:smileyvery-happy:

Just puttin' syrup on something, don't make it pancakes.
Moderator
Moderator
Lel
Posts: 5,268
Registered: ‎03-18-2008

Re: Coming Soon: New Member Ranks

 


p- wrote:

ShanetheMortgageMan wrote:

I am intrigued with the new algorithm.


MyFico is keeping the details under wraps.  From what I understand your ranking is baset on "bucketing".  Items in your Board file such as AAOP (average age of posts), number of posts, utilization (percentage of posts used relevantly), and negative accounts (posts deleted or edited for violating terms) are used to come up with a risk assesed profile bucketing you with other users that have a similar scorecard.

 

These buckets are then divided up into the scoring models, with some buckets limited as to how high they can score.  As your profile changes, you can be moved from one bucket to another, or one branch to another, changing your overall score.  That being said, no one really knows exactly how these algorithms work, and the information above has a high chance of being made up.

 

 


This may very well be the best post that I've read on these boards!

Super Contributor
ShanetheMortgageMan
Posts: 7,792
Registered: ‎09-28-2007
Super Contributor
MidnightVoice
Posts: 8,158
Registered: ‎03-25-2007

Re: Coming Soon: New Member Ranks

[ Edited ]

lel- wrote:


This may very well be the best post that I've read on these boards!


Very close to

 

 

-------------------------------------------------------------------------------- TheNewWorldMan wrote:

 

 Remember that credit bureaus use different methods to receive and process good versus bad credit information. Information that would negatively affect your credit rating--like a late pay or charge-off--is instantly beamed from the creditor to the agency via Department of Defense 256-megabit fiber optic lines and written to their servers in 8.6 milliseconds. Information that would positively affect your credit rating is scribed onto scrolls in special ink by Gregorian monks, which are then painstakingly illuminated. The Credit Scrolls are then placed onto camel caravans which wind their way to the credit bureau headquarters by way of Marrakesh, Dubai, and Tripoli. Once the caravan reaches Equifax, Experian or TransUnion, the scrolls are then laid out in the sun for a week so that the special ink can be read. (Note that the weather around the credit bureau headquarters is notoriously gloomy, like FICO itself, so finding seven consecutive days of sunshine can be quite an ordeal in and of itself.) Only then can the information finally be encoded into your credit files...

 

 

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Valued Contributor
p-
Posts: 2,539
Registered: ‎06-05-2008

Re: Coming Soon: New Member Ranks


MidnightVoice wrote:

lel- wrote:


This may very well be the best post that I've read on these boards!


Very close to

 

 

-------------------------------------------------------------------------------- TheNewWorldMan wrote:

 

 Remember that credit bureaus use different methods to receive and process good versus bad credit information. Information that would negatively affect your credit rating--like a late pay or charge-off--is instantly beamed from the creditor to the agency via Department of Defense 256-megabit fiber optic lines and written to their servers in 8.6 milliseconds. Information that would positively affect your credit rating is scribed onto scrolls in special ink by Gregorian monks, which are then painstakingly illuminated. The Credit Scrolls are then placed onto camel caravans which wind their way to the credit bureau headquarters by way of Marrakesh, Dubai, and Tripoli. Once the caravan reaches Equifax, Experian or TransUnion, the scrolls are then laid out in the sun for a week so that the special ink can be read. (Note that the weather around the credit bureau headquarters is notoriously gloomy, like FICO itself, so finding seven consecutive days of sunshine can be quite an ordeal in and of itself.) Only then can the information finally be encoded into your credit files...

 

 


heh heh, thanks.

  2-13-14: FICO EXP: 779 - EQU: 742 - TRAN: 765 - AVG: 762 - +212 points from JUN 2008 - MY CREDIT JOURNAL

Super Contributor
MidnightVoice
Posts: 8,158
Registered: ‎03-25-2007

Re: Coming Soon: New Member Ranks

[ Edited ]

12 new ranks - now that reminds me of something, what is it now?

 

Ah yes that it:

 

The FICOHolics 12 Step Program - With apologies to Alcoholics Anonymous

 

 

1.) We admitted we had been powerless over credit--that our finances had become unmanageable.

2.) Came to believe that a Message Board greater than ourselves could restore our Credit Scores to sanity.

3.) Made a decision to turn our will and our credit lives over to the care of MyFICO Forums.

4.) Made a searching and fearless inventory of our finances.

5.) Admitted to MyFICO, to ourselves and to other board members the exact nature of our **bleep** ups, and our actual scores.

6.) Were entirely ready to have MyFICO members help us remove all these defects of our CRs.

7.) Humbly asked them to help us, and wrote GW letters.

8.) Made a list of all creditors, and became willing to make amends to them all if required, and DV them it was likely to do any good.

9.) Made direct disputes to such creditors wherever possible, except where illegal.

10.) Continued to take personal inventory (usually via web banking) and when we carried a balance quickly PIFfed it.

11.) Sought through constant reading of the board to be aware of all pitfalls and to not stray from the path of financial responsibility, and to stay at 1-9% Utilization

12.) Having had a financial awakening as the result of these steps, we tried to carry this message to others with credit problems, and to help more people straighten out their CRs, and become EpicContributors

 

:smileyhappy:

 

(had to make minor modifications).

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Established Contributor
demi
Posts: 858
Registered: ‎09-18-2007

Re: Coming Soon: New Member Ranks

Humm....sounds like credit scoring!


Starting Score: EQ 679, TU 697
Current Score: EQ 680, TU 672
Goal Score: EQ 720, TU 720


Take the FICO Fitness Challenge

Contributor
Hopelives2
Posts: 193
Registered: ‎04-30-2011

Re: Coming Soon: New Member Ranks

[ Edited ]

I think the hierarchy sucks, actually.

 

Anytime an individual or group contrives a scoring model that is based. even partially, upon subjective variables, it instigates competition amongst its membership.  Instead of being a collegial minded set of people, it does not encourage friendliness and respect but rather a one-ups-manship by those who want the "appropriate" tag or think that because of their "tag" their words carry more weight and are "better" -   I've been on the receiving end of that... and honestly, it makes me think that this is not the greatest place to belong... Unfortunately, the site is the only one with a true FICO score, or I would be.

 

just yuck.

 

 

Moderator Emeritus
beamMEup
Posts: 4,473
Registered: ‎12-31-2008

Re: Coming Soon: New Member Ranks


Hopelives2 wrote:

I think the hierarchy sucks, actually.

 

Anytime an individual or group contrives a scoring model that is based. even partially, upon subjective variables, it instigates competition amongst its membership.  Instead of being a collegial minded set of people, it does not encourage friendliness and respect but rather a one-ups-manship by those who want the "appropriate" tag or think that because of their "tag" their words carry more weight and are "better" -   I've been on the receiving end of that... and honestly, it makes me think that this is not the greatest place to belong... Unfortunately, the site is the only one with a true FICO score, or I would be.

 

just yuck.

 

 



That could very well be true; and I'm sorry that you've felt that way while you've been on the forums. 

 

I have to note though, that those who seem to "think that because of their 'tag' their words carry more weight and are 'better'" probably exhibit that same behavior with or without the tags.  And it's also true that we've occasionally found some members who go out of their way to remind us that in spite of any relationship to any tags, that "their words carry more weight and are 'better'".  Folks are folks.  I have to say one thing I enjoy most about these forums is the good-nature of most all of the folks here.  It's really a grand group of people, all-in-all, from the New Visitor to the Epic Contributor. 

Just puttin' syrup on something, don't make it pancakes.

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