@JoeRockhead wrote:Some of the assumptions here about Fico 10 are incorrect. Fico 10 is not based on trending data, that would be Fico 10T.
- Fico 10 is a general scoring model, based on a current snapshot and traditional data much like Fico 8 and 9. Revolving UT has no memory.
- Fico 10T uses trended data based on the past 24 months of credit usage.
While 10T will allow revolving UT to have a "memory", AZE0 will remain a relevant way for someone to have influence over their scores based on a longer (24 month) history of reported usage. One could still manipulate revolving utilization scoring by playing more of the long game when practicing AZE0 in order to reflect it's full influence on 10T.
JR, are you putting zeros instead of ohs?? 
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@ptatohed wrote:
@JoeRockhead wrote:Some of the assumptions here about Fico 10 are incorrect. Fico 10 is not based on trending data, that would be Fico 10T.
- Fico 10 is a general scoring model, based on a current snapshot and traditional data much like Fico 8 and 9. Revolving UT has no memory.
- Fico 10T uses trended data based on the past 24 months of credit usage.
While 10T will allow revolving UT to have a "memory", AZE0 will remain a relevant way for someone to have influence over their scores based on a longer (24 month) history of reported usage. One could still manipulate revolving utilization scoring by playing more of the long game when practicing AZE0 in order to reflect it's full influence on 10T.
JR, are you putting zeros instead of ohs??
@ptatohed, I mighta, I mighta not... 
If I go back and fix it, will you finally fix your siggy? 
@JoeRockhead wrote:
@ptatohed wrote:
@JoeRockhead wrote:Some of the assumptions here about Fico 10 are incorrect. Fico 10 is not based on trending data, that would be Fico 10T.
- Fico 10 is a general scoring model, based on a current snapshot and traditional data much like Fico 8 and 9. Revolving UT has no memory.
- Fico 10T uses trended data based on the past 24 months of credit usage.
While 10T will allow revolving UT to have a "memory", AZE0 will remain a relevant way for someone to have influence over their scores based on a longer (24 month) history of reported usage. One could still manipulate revolving utilization scoring by playing more of the long game when practicing AZE0 in order to reflect it's full influence on 10T.
JR, are you putting zeros instead of ohs??
@ptatohed, I mighta, I mighta not...
If I go back and fix it, will you finally fix your siggy?
Touche!
@JoeRockhead wrote:
@ptatohed wrote:
@JoeRockhead wrote:Some of the assumptions here about Fico 10 are incorrect. Fico 10 is not based on trending data, that would be Fico 10T.
- Fico 10 is a general scoring model, based on a current snapshot and traditional data much like Fico 8 and 9. Revolving UT has no memory.
- Fico 10T uses trended data based on the past 24 months of credit usage.
While 10T will allow revolving UT to have a "memory", AZE0 will remain a relevant way for someone to have influence over their scores based on a longer (24 month) history of reported usage. One could still manipulate revolving utilization scoring by playing more of the long game when practicing AZE0 in order to reflect it's full influence on 10T.
JR, are you putting zeros instead of ohs??
@ptatohed, I mighta, I mighta not...
If I go back and fix it, will you finally fix your siggy?
I have been waiting for this.
I should do mine to have the card pictures...
@ElvisCaprice wrote:It doesn't matter what Fico score they use. If they want to deny you credit, they can make up any reason in doing so. They are a business and they need customers, so everyone is subjected to there methods.
Very good point, and the very reason some 800+ score applicants are still denied.
@Humvee wrote:True on FICO 10T for trending, but it shows some big banks like US Bank is using FICO 10 which is significantly different than FICO 8. Why else would there be a 30 point difference from my FICO 8 to FICO 10. So FICO 10 has other software tools to see risk assessment. But what is more importantly is that those people that carry over 30% debt are going to be significantly harmed by FICO 10T when big banks start using it. FICO 10T will start showing your credit trends for risk assessment. Everyone should start changing behavior for the FICOT which shows a snapshot over the last couple years of how you managed your credit (trends). Those that let some balances report under 9.5% and then payoff in full will have a higher FICOT.
Banks need to start updating people on the change.
I honestly agree with it... I know (or maybe I dont) how difficult it is to live. We havent made it easy and banks are praying on people who can just get by, but "getting by" is imo just evil. like 2 pounds on your feet in the middle of the ocean. you can tread water, but for how long? charging overly high interest rates on people who need it or who dont have quite enough savings for emergencies.
Makes me think of the family whose transmission goes out on them and they need to put it on a credit card that is intrest free for 6 months, but if you can't pif in that time you get B**** slapped with an insane interest charge. Evil imo.
I found that on a young dirty profile (odd situation of waiting several years to file my BK7 and then several years later when I began to rebuild I no longer was FICO scoreable for a few months), FICO 10 had a lower ceiling than FICO 8, which already had a lower ceiling than FICO 9. 3.5yrs later, my FIC0 10 scores, while still lower than my FICO 9, are currently higher than FICO 8. 10T are also higher than , with EQ10T, and TU10 also being higher than my EQ9 and TU9. FWIW I do not practice AZEO anymore and probably never will again unless I were applying for a mortgage.
