topic What's FICO Risk Score Classic 04 Bankcard? in Understanding FICO® Scoring

What's FICO Risk Score Classic 04 Bankcard?

Ghoshida — Fri, 20 Jun 2014 01:47:20 GMT

Hello community members.

I was recently denied a CLI by US Bank citing TU FICO Risk Score Classic 04 Bankcard score (622 on a range of 250 to 873) according to their letter.

The score was obtained on 06/03/2014. The previous score they obtained was on 04/26/2014 (633).

I'm getting TU FICO scores from Discover and Barclay's. I'm given to understand it's FICO 08.

On 05/11/2014, it was 677. On 06/11/2014 it was 685. On 06/13/2014 it was 688.

My Bankcard Classic score looks really troubling. Could you explain to me what are the drivers for that score?

Thanks in advance.

Re: What's FICO Risk Score Classic 04 Bankcard?

Anonymous — Fri, 20 Jun 2014 02:03:14 GMT

04 is the previous scoring series before 08, and I think "bankcard" means that extra weight is given to previous CC history, just like "auto enhanced" means that extra weight is given to previous auto loan history. Here's an article on this:

http://www.creditmattersblog.com/2008/10/bankcard-industry-option-fico-score.html

The TU 08 scores from Barclays and Discover are not the bankcard enhanced ones.

You might also look at this document, that describes how 08 scores have changed from what was before:

http://www.myfico.com/crediteducation/questions/fico8.aspx

Re: What's FICO Risk Score Classic 04 Bankcard?

Ghoshida — Fri, 20 Jun 2014 06:05:34 GMT

@Anonymous wrote:
04 is the previous scoring series before 08, and I think "bankcard" means that extra weight is given to previous CC history, just like "auto enhanced" means that extra weight is given to previous auto loan history. Here's an article on this:

http://www.creditmattersblog.com/2008/10/bankcard-industry-option-fico-score.html

The TU 08 scores from Barclays and Discover are not the bankcard enhanced ones.

You might also look at this document, that describes how 08 scores have changed from what was before:

http://www.myfico.com/crediteducation/questions/fico8.aspx

Thanks !