@gdale6 wrote:Really irrelevant for myself 780, 800 is the same, besides by the time the industry adopts this model odds are I will not be here. The industry is still largely using Fico 4 and 8, have not even moved to Fico 9 yet.
You will have "good company" 
Here's an example of 'trended data' (what FICO 10 T is using) from my full TransUnion report obtained last year in March (2019). I only had 3 months of revolving credit history at that time. I can't wait to see what 1 year and 3 months of history looks like this March (2020).
If you have a card from a credit union which uses PSCU for payment processing, as over 800 of them do, you might see this sort of trended data on your full annual report from TU.
It clearly shows how early/late in the grace period I make a payment, if I paid it in full, and utilization month by month since the credit limit is tracked monthly as well. Something else interesting is that my 'High Balance' on this CU Mastercard is the highest balance ever recorded at any time, not just the highest reported monthly statement balance.
@Anonymous wrote:Honestly, it looks like a way to make credit only beneficial to those with means. Those in lower income brackets with debt who are simply trying to pay it off the least expensive way possible will be punished.
And it's not even about shoppoing debt, but unforeseen expences due to medical or unexpected job loss etc. Not everyone has deep pockets for those emergencies. So now, even though they're trying to be responsible and pay it back. They'll suffer from lower scores further preventing better interest rates or possibly being able to rent.
I'm crankly apparently today for which I apologize, but I don't understand what you're getting at.
If the debt is being paid off regardless of how expensive or cheap it is to be carrying that debt, the overall debt obligation will be going down and the new algorithm presumably rewards that. If it spikes up one month and then starts trending down, that's a positive and iit's even suggested in the articles... responsible use of credit, yay.
Also that rent thing is not correct, landlords (the several I've talked to) have always looked for defaulted debt anyway.
I just don't see the issue. If you're paying your bills you win, and if you're not, just like every other credit scoring algorithm in existence you get marked down for it. Most likely it won't be passed onto the consumers anytime soon but trended data should make for better predictions which should lower the risk to the banks and that should result in reduced loss. Long term that's a good thing for the economy.
