topic Re: Fico 08 in Understanding FICO® Scoring

Fico 08

Anonymous — Mon, 28 Jul 2008 20:25:31 GMT

Hi all,

I probably sound a little stupid for asking this question but I am curious to know what this fico 08 is going to consist of? Is it going to be whole new scoring system, can someone explain??

Re: Fico 08

Anonymous — Mon, 28 Jul 2008 20:26:23 GMT

If you do a search on here for Fico08 there are a LOT of threads describing it!

Good luck!

Re: Fico 08

Anonymous — Mon, 28 Jul 2008 20:28:50 GMT

Thank you...

Re: Fico 08

MidnightVoice — Mon, 28 Jul 2008 20:43:08 GMT

http://ezinearticles.com/?FICO-08---Understanding-the-New-Credit-Scores&id=1056771

http://www.pcbs.org/fico-08/

http://ficoforums.myfico.com/fico/board/message?board.id=creditnews&thread.id=1304

http://credittechnologies.com/arsenal/FICO_08_to_Impact_60_Million_Consumers.asp

Re: Fico 08

Anonymous — Mon, 28 Jul 2008 21:00:59 GMT

thanks for the links

your great

Re: Fico 08

Anonymous — Mon, 28 Jul 2008 21:47:12 GMT

From my understanding the only real big changes are ignoring AU accounts and adding in more UTL scoring for installments. The rest was fine tuning of what already is being used. But it's going to be a long while before it will be used from what I hear.

Message Edited by ilovepizza on 07-28-2008 05:47 PM

Re: Fico 08

Anonymous — Tue, 29 Jul 2008 03:20:10 GMT

ilovepizza wrote:
From my understanding the only real big changes are ignoring AU accounts and adding in more UTL scoring for installments. The rest was fine tuning of what already is being used. But it's going to be a long while before it will be used from what I hear.

Message Edited by ilovepizza on 07-28-2008 05:47 PM

Another significant change is that one baddie won't hurt you as badly if you have several other accounts in good standing, but multiple baddies will hurt more than they do currently.