Re: The Hill publishes flawed argument about FICO scores
04-13-2012 10:12 PM
The author is a prime example of why we need to educate the general public on how credit scoring works. Because of propriatary reasons there is secrecy in the FICO model. That mystery creates confusion because it is not possible to explain the math behind the scoring. Having multiple FICO versions and models only complicates things further. People are confused and the CB's are taking advantage of that fact. So are the CC companies when they send propriatary scoring results with credit decisions.
Starting Score: 693 TU FICO, 679 EQ FICO
Current Score: FICO 8 = 844(9/15) EQ, 827 TU, 811 EX (7/15); mortgage FICO= 758 (9/15)EQ5, 797 TU4, 748 EX2 (7/15)
Goal Score: 750+, but shooting for the 800's
Hyatt Visa Sig ($23K), Amex BCP (24.8K), BofA Travel Rew Sig (22.5K), B&N World MC (22.3K), Amex RP Gold (NPSL w/ S&T), Cash+ Sig (20K),United Mil+ExpSig (16.3K), FNBO Visa (13.1K), Hilton Surpass (10K), Freedom Visa Sig (8.6K), Disc It (16.4K), Citi Dia Pref MC (3.7K),Sam's MC (10K), Wally (7.5K), JCP(5.3K), Costco (2K)