topic Re: Buckets or pools???? How many? in General Credit Topics

Buckets or pools???? How many?

Anonymous — Fri, 10 Oct 2008 18:03:39 GMT

Is there some certain number of "buckets" one can get in. I searched this board and understanding fico scoring using buckets, but I couldn't find any information on the actual bucket itself. I know there was one on average age, but I couldn't find it either.

All that rambling was to ask if anyone knows how many buckets there are?

Re: Buckets or pools???? How many?

Anonymous — Fri, 10 Oct 2008 18:48:42 GMT

There is no specified amount of buckets.

Re: Buckets or pools???? How many?

Anonymous — Sat, 11 Oct 2008 15:34:37 GMT

Actually I believe there are 8 in current models used on the site and 12 with FICO '08 (which are not the scores you get from the site as a consumer).

There are 2 negative buckets and 6 positive currently. They are upping the negative to 4 and the positive to 8 I believe.

The exact breakdown of what constitutes a bucket has not been released, but there is much speculation on the board.

Re: Buckets or pools???? How many?

haulingthescoreup — Sat, 11 Oct 2008 19:10:17 GMT

Almost- there are currently 8 positive buckets and 2 negative buckets. The ephemeral FICO 08 has 8 positive and 4 negative, as I recall.

But you can only be in one bucket at a time. If you have a serious derog, a public judgment, or both, you're in a negative bucket, period.

But the factors that drive other buckets (AAoA, total history, thin files, etc) still affect your scores, even if you're in a negative bucket, so it's important to keep them shined up. Once your negative factor falls off, you'll be in great shape with one of the positive buckets.

Re: Buckets or pools???? How many?

Anonymous — Mon, 13 Oct 2008 16:56:49 GMT

@haulingthescoreup wrote:
Almost- there are currently 8 positive buckets and 2 negative buckets. The ephemeral FICO 08 has 8 positive and 4 negative, as I recall.

But you can only be in one bucket at a time. If you have a serious derog, a public judgment, or both, you're in a negative bucket, period.

But the factors that drive other buckets (AAoA, total history, thin files, etc) still affect your scores, even if you're in a negative bucket, so it's important to keep them shined up. Once your negative factor falls off, you'll be in great shape with one of the positive buckets.

Do you have any ideas on the positive buckets...not necessarily specifics. I have no negative factors, but my score won't increase. I get the occasional decrease based on utilization of credit cards on any given month, but even when I only leave one at 1% I still can't get past baseline.

Re: Buckets or pools???? How many?

Anonymous — Tue, 14 Oct 2008 02:29:05 GMT

ficoachiever wrote:
@haulingthescoreup wrote:
Almost- there are currently 8 positive buckets and 2 negative buckets. The ephemeral FICO 08 has 8 positive and 4 negative, as I recall.

But you can only be in one bucket at a time. If you have a serious derog, a public judgment, or both, you're in a negative bucket, period.

But the factors that drive other buckets (AAoA, total history, thin files, etc) still affect your scores, even if you're in a negative bucket, so it's important to keep them shined up. Once your negative factor falls off, you'll be in great shape with one of the positive buckets.
Do you have any ideas on the positive buckets...not necessarily specifics. I have no negative factors, but my score won't increase. I get the occasional decrease based on utilization of credit cards on any given month, but even when I only leave one at 1% I still can't get past baseline.

Pretty safe to say the positive buckets are based of Age of File-

Having ANY accounts under 1 year old IS a bucket

If it's Average age, total age, oldest revolving- we really only have guesses.

Re: Buckets or pools???? How many?

Anonymous — Tue, 14 Oct 2008 03:51:22 GMT

@Anonymous wrote:
Pretty safe to say the positive buckets are based of Age of File-

Having ANY accounts under 1 year old IS a bucket
If it's Average age, total age, oldest revolving- we really only have guesses.

If there are no derogs at all, once the newest TL hits 1 yr, will the score go up? Or do you get in a new bucket with other people with no negatives whose accounts are older, and then your score goes down?.....

Re: Buckets or pools???? How many?

Anonymous — Tue, 14 Oct 2008 04:13:04 GMT

Bzzzymom wrote:
@Anonymous wrote:
Pretty safe to say the positive buckets are based of Age of File-

Having ANY accounts under 1 year old IS a bucket
If it's Average age, total age, oldest revolving- we really only have guesses.
If there are no derogs at all, once the newest TL hits 1 yr, will the score go up? Or do you get in a new bucket with other people with no negatives whose accounts are older, and then your score goes down?.....

Sounds about right -

It can go either way-