topic Re: Does employment section on CR have any impact on score? in General Credit Topics

Does employment section on CR have any impact on score?

BeatingtheSystem — Sat, 05 Jan 2008 01:17:40 GMT

Is it true that the employment section of your CR is considered in calculating your FICO score?

Re: Does employment section on CR have any impact on score?

Anonymous — Sat, 05 Jan 2008 01:19:57 GMT

Only if you are a lawyer/policeman/politician/VIP/etc. Then you get special treatment.

BeatingtheSystem wrote:
Is it true that the employment section of your CR is considered in calculating your FICO score?

Re: Does employment section on CR have any impact on score?

haulingthescoreup — Sat, 05 Jan 2008 01:26:57 GMT

@Anonymous wrote:
@BeatingtheSystem wrote:
Is it true that the employment section of your CR is considered in calculating your FICO score?
Only if you are a lawyer/policeman/politician/VIP/etc. Then you get special treatment.

No, it's not true. There is a PowerPoint that pops up every now and again from quite a few years ago, dating from when FICO was testifying before Congress. It implies that occupation mattered, and had a breakdown of how managers outranked supervisory, and supervisory outranked clerical, and God bless the MD's and JD's, but this is no longer used, if it ever was.

I updated my employment on all three reports, one of which had me as a housewife and another of which showed me as unemployed, and there was not a twitch from any of the scores. I made my job look Very Important, too!

Re: Does employment section on CR have any impact on score?

Anonymous — Sat, 05 Jan 2008 02:26:50 GMT

@haulingthescoreup wrote:
@Anonymous wrote:
@BeatingtheSystem wrote:
Is it true that the employment section of your CR is considered in calculating your FICO score?
Only if you are a lawyer/policeman/politician/VIP/etc. Then you get special treatment.

No, it's not true. There is a PowerPoint that pops up every now and again from quite a few years ago, dating from when FICO was testifying before Congress. It implies that occupation mattered, and had a breakdown of how managers outranked supervisory, and supervisory outranked clerical, and God bless the MD's and JD's, but this is no longer used, if it ever was.

I updated my employment on all three reports, one of which had me as a housewife and another of which showed me as unemployed, and there was not a twitch from any of the scores. I made my job look Very Important, too!

I always wondered about that.

So demigod won't get any special treatment?

Getting harder to get a break these days

Re: Does employment section on CR have any impact on score?

Anonymous — Sat, 05 Jan 2008 05:55:14 GMT

The short & correct answer to the OP's question is no. Your profession/title does not come into play for FICO scoring purposes.

However...always a however... if your profession/status is among a select group you will receive special treatment from the CRAs. If you are receiving special treatment you are able to resolve disputes, etc, in a more timely manner. The CRAs may do their job correctly and actually follow the guidelines for verifications and other requests because they do not want the backlash of publicity or the certainty of being sued.

The result? Translates to a probable higher FICO. So, long and convoluted answer...yes.

x

Anonymous — Wed, 01 May 2013 01:51:35 GMT

Re: Does employment section on CR have any impact on score?

Anonymous — Sat, 05 Jan 2008 06:37:13 GMT

They may. I put 'retired' on my apps. Believe it is up to the individual CC issuer's criteria.

specultr wrote:
On a credit card application, you usually just have to provide household income and identifying information. Would an occupation entry of "self-employed" on your credit report be a red flag with lenders who might want to investigate your income further?

Re: Does employment section on CR have any impact on score?

Anonymous — Sat, 05 Jan 2008 06:37:59 GMT

Not so sure about employment-

But seems address type seems to be worth a few points.

Re: Does employment section on CR have any impact on score?

CreditDrama85 — Sat, 05 Jan 2008 15:18:28 GMT

what? timothy, you are saying addresses contribute to fico scores? never heard this one

Re: Does employment section on CR have any impact on score?

Anonymous — Sat, 05 Jan 2008 18:42:38 GMT

I am havng a hard time verifing this in stone-

But yeah 5 to 10 points for being at a house instead of an appartment.

CreditDrama85 wrote:

what? timothy, you are saying addresses contribute to fico scores? never heard this one