topic Re: FICO08 in myFICO® Forums Technical Help

FICO08

Anonymous — Wed, 24 Oct 2007 04:55:23 GMT

This topic is generating a lot of interest. A LOT.

Yet no one knows very much about it except that it will effect AU's the most.

But I've heard elswhere that everyone's FICO scores will be effected.

I would like to suggest, that when the time comes, a sticky thread be started at the top of the page, explaining what exactly FICO08, and how it will effect all of us.

Just a thought.

Re: FICO08

Barry — Fri, 26 Oct 2007 17:54:18 GMT

Sylviatob wrote:
This topic is generating a lot of interest. A LOT.

Yet no one knows very much about it except that it will effect AU's the most.

But I've heard elswhere that everyone's FICO scores will be effected.

I would like to suggest, that when the time comes, a sticky thread be started at the top of the page, explaining what exactly FICO08, and how it will effect all of us.

Just a thought.

Good idea, Sylviatob! I will gather up that information and provide some detail on what we can expect with this new version of the FICO formula. Stay tuned....

Thanks!

Barry

Re: FICO08

haulingthescoreup — Fri, 26 Oct 2007 23:22:52 GMT

Great suggestion, Sylvia! And I'd like to add to the suggestion: please don't wait until it finally gets implemented, whenever that's going to happen. If it is going to change the way that credit behaviors are rewarded, and dare I say, punished, it would be useful to have a general heads-up.

Re: FICO08

Anonymous — Mon, 29 Oct 2007 04:50:54 GMT

Thanks you all.

Always helps to know in advance, when something is about to hit me. As opposed to looking up and seeing the freight train inches from my face. LOL.

Re: FICO08

Barry — Mon, 29 Oct 2007 22:59:17 GMT

I should have some FICO 08 info for you all around late November - early December, which will be at least a few months ahead of when anyone will begin to be affected by this new version of the FICO score.

Barry

Re: FICO08

Anonymous — Tue, 30 Oct 2007 04:23:38 GMT

Many thanks Barry. And we all look forward to learning about it!

Re: FICO08

Anonymous — Fri, 09 Nov 2007 16:44:42 GMT

Any updates or press releases?

Re: FICO08

haulingthescoreup — Sat, 10 Nov 2007 00:34:04 GMT

I think they've realized that cr*pping all over a lot of AU's, many of them women in their 50's and 60's, might not be the smartest thing to do in an election year.

Might be time for Plan B...

Re: FICO08

fused — Sat, 10 Nov 2007 20:34:23 GMT

haulingthescoreup wrote:
I think they've realized that cr*pping all over a lot of AU's, many of them women in their 50's and 60's, might not be the smartest thing to do in an election year.

Might be time for Plan B...

What about us stay at home all day with our children MR. Moms?

Re: FICO08

haulingthescoreup — Sun, 11 Nov 2007 00:27:41 GMT

@fused wrote:
@haulingthescoreup wrote:
I think they've realized that cr*pping all over a lot of AU's, many of them women in their 50's and 60's, might not be the smartest thing to do in an election year.

Might be time for Plan B...
What about us stay at home all day with our children MR. Moms?

OK, make that "many of them women in their 50's and 60's and men in their 30's staying at home all day with their children!" I don't know that conservative political candidates worry so much about the Mr. Mom backlash, assuming that they know that these even exist. And I'll bet that Mr. Moms are joint users rather than AU's in most cases.

You are SO not a stay-at-home dad. You're in Guam half the time!

Or do you get to work from home, lucky you? I did that for 2 years until some pinhead V.P. pulled us all back in.

Re: FICO08

Anonymous — Fri, 16 Nov 2007 16:24:31 GMT

Still no updates from management?

Re: FICO08

Barry — Mon, 19 Nov 2007 19:55:31 GMT

Noah_Bodie wrote:

Still no updates from management?

Sorry, but not yet, Noah.

I'm not expecting anything till early-to-mid December.

Barry

Re: FICO08

TULO30 — Thu, 13 Dec 2007 01:47:11 GMT

Okay...it's mid December. What gives?

Re: FICO08

MidnightVoice — Thu, 13 Dec 2007 01:55:31 GMT

@TULO30 wrote:
Okay...it's mid December. What gives?

3 more days to go

Message Edited by MidnightVoice on 12-12-2007 07:55 PM

Re: FICO08

Tuscani — Thu, 13 Dec 2007 22:13:00 GMT

My guess is no FICO08 for 2-3 more months.

Re: FICO08

Anonymous — Tue, 18 Dec 2007 22:22:28 GMT

Should we start a pool? I bet at least 6 months.

Re: FICO08

fused — Wed, 19 Dec 2007 02:31:29 GMT

masdeocho wrote:

Should we start a pool? I bet at least 6 months.

I agree with you, not before next summer.

Re: FICO08

MidnightVoice — Wed, 19 Dec 2007 13:56:11 GMT

According to:

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=61962

FICO 08 is likely to face some competition from VantageScore Solutions LLC of Stamford, Conn., a joint venture of the three credit bureaus that was rolled out in 2006. Fair Isaac has sued VantageScore and the three bureaus, accusing them of using unfair and anticompetitive practices to harm the FICO brand. Recently, Equifax linked the suit with the launch of FICO 08. The company has said it wouldn't move forward with FICO 08 and that its relationship with Fair Isaac remains "strained" until the lawsuit is resolved, says David Rubinger, Equifax spokesman. The new FICO model has already been distributed to Experian, which is in the process of implementing it, while TransUnion expects to have the scoring model available for lenders to test during the second quarter of 2008. Fair Isaac says its intention is to provide the formula to all three credit-reporting agencies.

Re: FICO08

bridgetkaryn — Mon, 07 Jul 2008 14:24:15 GMT

Any updates on this? Has it rolled out yet?

Re: FICO08

haulingthescoreup — Mon, 07 Jul 2008 23:44:18 GMT

As I understand it, EX alone is now offering it, but per Timothy, not "batched." I'm not sure what that means exactly, unless it's referring to credit monitoring services including myFICO and pre-approval services, but I'm really reaching on that one.

The consumer credit industry takes a long, long time to change anything, preferring to wait and let competitors be the beta testers.