US Bank is now using FICO 10 !!

[NoMoreE46]

Yes USB has been using Fico 10 since Nov 2024.

I'll ask the moderators to merge this with the other Fico 10 thread.

[Realist]

I don't take anything from US Bank seriously.  Ever.

[MarkintheHV]

Kind of glad to see this.  When I paid off my pickup and camper loans, FICO slaughtered me.  When I look at my Fico 10 scores they are right where they used to be.

[youngandcreditwrthy]

@MarkintheHV  see... its like what gives.

another lender pulled an updated vantage maybe 4.0? and had me at 677.

can they all just use one doggone score and stop jerkin us around. ugh

i jsut want to know the MAKEUP of FICO 10

[CreditMagic7]

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@youngandcreditwrthy wrote:

@MarkintheHV  see... its like what gives.

another lender pulled an updated vantage maybe 4.0? and had me at 677.

can they all just use one doggone score and stop jerkin us around. ugh

i jsut want to know the MAKEUP of FICO 10

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Scammers got to have a scamming range to pick n choose from.

These banks have been in that rot a long time.

[youngandcreditwrthy]

@CreditMagic7  correct! Ya know if I were a bihble thump didly umper, I would kindly suggest that the rates on some of these cards these days are approaching u6odl4 rates... like usury level..

most states have interest rate caps EXCEPT *drum roll please* Delaware. There might be a few others now, but that used to be the reason why most banks' credit card divisions were headed 'officially' out of Delaware so they could get around other states rate caps...

for example, Texas has a rate cap of 6%.. I can't even remember where or what law I read that in... it was prob ten years ago.

Update: just googled.. apparently Texas, as my example here, has an "office of credit commissioner" (more government cuts anyone??!! esp state level!!)  that has that usury cap at 10% right now.. makes sense prime +6%.. when I was studying this before(during great recession, econ/finance nerd here) under previous Fed personnel that worked with Volker (like the Volker rule-- oh no, early morning caffeine rant). Stopping myself. 

Have a good day :-)

[TrapLine]

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@MarkintheHV wrote:

Kind of glad to see this.  When I paid off my pickup and camper loans, FICO slaughtered me.  When I look at my Fico 10 scores they are right where they used to be.

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Confirm the actions mentioned here. Got killed. To make it worse, paid off the residential dwelling unit. Dropped to 784 Fico 08 EX. Today I have small installment loan that really does not need to exist and dragged my score back to 815. Best part, I sat at 850 Fico 08 for five years.

One wonders?

[FICOdawg]

It's my opinion banks set minimum payments too low.    10T is probably a better risk monitor since low/min payments over time  are a sign of being over extended.

      If banks made min payments more realistic for repayment like 8-10% you'd see a lot less use of credit.