topic Re: MyFico Score Calculator in Understanding FICO® Scoring

MyFico Score Calculator

Anonymous — Fri, 03 Sep 2010 04:23:33 GMT

Hello,

Does anyone know if the MyFico Score calculator takes into account any baddies that will be falling off? I don't believe it does. I have 5 baddies right now but 3 are falling off in the next couple months. When I calculate out say 3 months does the calculator already know that? I assume not, and know that since they're old it prob won't have much impact anyway but wanted to get your thoughts. Thank you

Re: MyFico Score Calculator

cascade159 — Fri, 03 Sep 2010 21:02:58 GMT

Just guessing here but in my experience it does NOT seem to take any of those things into account - including collections.

Re: MyFico Score Calculator

laz98 — Sat, 04 Sep 2010 00:27:35 GMT

not in my experience, either.

Re: MyFico Score Calculator

Anonymous — Sat, 04 Sep 2010 01:00:49 GMT

Me neither. It would have to run all the complex FICO algorithms, I suppose, to do that. And I'm sure it's a much much simpler version. Mini-FICO.

Re: MyFico Score Calculator

MarineVietVet — Sat, 04 Sep 2010 01:24:32 GMT

@Anonymous wrote:
Me neither. It would have to run all the complex FICO algorithms, I suppose, to do that. And I'm sure it's a much much simpler version. Mini-FICO.

And then some computer genius could reverse engineer everything.

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work

Re: MyFico Score Calculator

Anonymous — Sat, 04 Sep 2010 02:15:02 GMT

FICO Lite

Re: MyFico Score Calculator

vanillabean — Sun, 05 Sep 2010 03:31:53 GMT

@Anonymous wrote:
Me neither. It would have to run all the complex FICO algorithms, I suppose, to do that. And I'm sure it's a much much simpler version. Mini-FICO.

I don't know anything from personal experience about baddies, but to the best of my recollection and understanding someone recently noted in one of the forums that a 7-year baddie could fall off half a year early if the creditor decides to do so for various reasons. Or it could be completely different. As such, the FICO estimator couldn't possibly take such baddies accurately into consideration, especially in cases when the time frame of the estimator is narrower than that of 7-year baddie fall-off experiences.

@MarineVietVet wrote:
And then some computer genius could reverse engineer everything.

They'll never be completely accurate, as you say. And that's important when you need 760 for a mortgage and your official score is 759.

One Sunday morning a few weeks ago when I happened to wake up at 4 a'clock, and the Internet and TV connection was down, I put into code what had been simmering in my head for some time. My own FICO meat grinder so to speak. I can't say I'm all that particular about the murkier reverse engineering details, mostly I did was what made sense to me. Based on 20 various scenarios, it is on average within 10 points of the real deal. Still, it hasn't stopped me from purchasing the official scores I would have purchased without it. And I doubt it ever will. But it can give me approximate scores for different situations back in time and in the future, and that's what drove me.