Credit Spree and What is considered to Many Inquiries

[Thomas_Thumb]

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@Revelate wrote:

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@sarge12 wrote:

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@Revelate wrote:

I'll feedback it, seems wrong from FICO Business's current FICO 8 marketing.

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Revelate, the popups even say AU accounts are not considered in installment loan balances...have you ever heard of an AU on an installment loan,,,cosigner, or joint maybe, but AU on installment loans? They launched fico08 in 2008...how long does it take for them to work out the bugs. I mean we pay 60 bucks for a 3B report.

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Every revision and content release needs to be vetted and there's a very limited number of people who know the inner workings of the algorithm at FICO for all the usual reasons (which they deem important enough to put in their SEC filings).

I've not heard of an AU on an installment loan, not sure what use it would serve honestly.  The 60 bucks is for the scores, the rest is just presentation which I agree should be correct but it isn't in all cases historically and I'm not convinced it is here either.  I was just a volunteer moderator, I don't have any insight to the inner workings at FICO other than what they choose to disclose which is frankly really really limited. 

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Joint mortgages are commonplace but, I too am unfamiliar with AU installment loans.

Regarding AU and Fico 08 it's mildly interesting that Fico appears to contradict itself. However, that data I have on how they treated my AU card is rather easy to analyze without any ambiguity on finding:

1) AU card did not count in # open accounts with a balance (the 2 accounts were my mortgage and AMEX card)

2) AU card balance did not factor into total balance for "revolving" accounts

3) AU card balance does not count into numerator for % aggregate credit utilization (not surprising as AUs are not responsible for charges). This was easy to confirm with certainty.

4) AU card appears to count CL does count in aggregate CL denominator. This could not be confirmed with 100% certainty due to rounding of Ag UT%

Regarding AU card and other Fico models:

1) AU card treated the same as personal cards for Fico 04 and Fico 98.

Regarding AMEX charge card:

1) AMEX charge is included in open accounts with balance count for all Fico models

2) AMEX charge is included in total balance for "revolving" accounts.

3) AMEX charge card balance is not included in numerator for Ag UT %.

4) Unable to confirm or deny if HB is part of the denominator in Ag UT %

5) AMEX charge B/HB is not considered in Fico 08 or Fico 04. However my 100% B/HB had a STRONG negative impact on EX Fico 98 score.

The above is in agreement with the text boxes I pasted previously but a couple concrete observations were not mentioned in the text boxes. I did not attempt to see if the AU card is not considered in AAoA as stated in one of the test boxes. Its age is close to my AAoA so impact with/without would shift AAoA less than one year. I'm taking FICOs word that it is not included given exclusion in the other stated areas.