Moderator Emeritus
Posts: 10,924
Registered: ‎12-30-2011
Re: CFPB released a report comparing FAKOs, FICOs, and VantageScore
[ Edited ]

I don't know; the auto-enhanced option being 0.99, 0.95, 0.99 respectively just appears to be laughably off unless out of 200k consumers, 99% of them had an auto-loan on their record.  I can't imagine that's the case.  The "first-time-buyer" penalty is so well known, I just find it shockingly remote that the correlation is that high.  


Either everyone is using FICO '08 versions for auto and possibly bankcard enhanced industry specific options that the FICO '04 ones in the study are irrelevant, or something just doesn't seem right with their analysis on that honestly.  Granted anecdotal evidence isn't proof of anything, but at least on the auto forums it comes up over and over and over again to the point it's simply accepted as near absolute truth.  In credit card approvals we also see a wide variation from the best FICO '04 baseline we have available, namely myFICO's EQ Beaction 5.0 (also provided by DCU), and the longer term members who have access to their EX V2 score from PSECU, also seems to disagree with their results as GregB suggests.





Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 693, EQ 8 685, TU 705, EX 709 (02/27/15)
Goal Score: 700 on EQ 04 (01/01/16)

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