Experian Boost ---- Thoughts

[Anonymous]

That’s something I had wondered about BBS. Did somebody test that or does documentation establish that? Please give me more information on that BBS.

[Anonymous]

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@Anonymous wrote:
That’s something I had wondered about BBS. Did somebody test that or does documentation establish that? Please give me more information on that BBS.

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Got'ta wonder? Experian has tried to sell me Experian Boost. When they showed me the benefit it showed zero "0" none! Looking at my Fico 8 Scores, how would Boost boost my Fico Scores?! Gimmick?

[sarge12]

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@Anonymous wrote:

Just as an aside above, number of on-time payments is not a factor in Fico scoring.  Certain sites like Credit Karma have fluff front-end summary software that would leave one to believe this, though, so I understand where the confusion comes in.  All that matters is whether accounts are clean (on-time payments) or dirty (missed payments) where actual number of on-time payments doesn't impact scoring.  If you saw a score increase it wasn't from the number of on-time payments doubling, it was from the 3 additional accounts being factored in, which could impact file thickness, age of accounts factors, etc.

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Just thought I would jump in and say, giving the CRA's yet more personal information on me would, like a 4506-T request, be a hard no. These people already know more about me than I like for them to know. As far a some have said here that they trust them with the data...have you forgotten the Equifax data breach already?

[Anonymous]

Specifically I’m referring to whether or not the number of OnTime payments matter or if it’s just late payments that matter. Because I actually wondered about that before if the actual number was meaningful.

[sarge12]

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@Anonymous wrote:

Just as an aside above, number of on-time payments is not a factor in Fico scoring.  Certain sites like Credit Karma have fluff front-end summary software that would leave one to believe this, though, so I understand where the confusion comes in.  All that matters is whether accounts are clean (on-time payments) or dirty (missed payments) where actual number of on-time payments doesn't impact scoring.  If you saw a score increase it wasn't from the number of on-time payments doubling, it was from the 3 additional accounts being factored in, which could impact file thickness, age of accounts factors, etc.

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I really can't see how power bills can be factored into peoples credit scores. I do not pay the power bill because it helps my credit. I pay the power bill because I don't care to have a heat stroke in the dark. JMHO!

[Anonymous]

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@Anonymous wrote:
Specifically I’m referring to whether or not the number of OnTime payments matter or if it’s just late payments that matter. Because I actually wondered about that before if the actual number was meaningful.

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Only late payments matter, as evidenced by the negative reason codes pointing to them.  There isn't a negative reason statement that says your number of on time payments is too low.  While there are some that may indirectly suggest that, all they are doing is pointing to a negative item (late payment).  No one to my knowledge has ever referenced seeing a negative reason statement related to number of on time payments that didn't have a negative item on their CR.

[Anonymous]

Do we have a negative reason code for AooA? We know it can affect score. I know we have one for average age and we have one for age of youngest, but one for AooA?

[Anonymous]

I thought there was one about "The age of your oldest account..." but can't remember exactly.  I've never seen it personally, but am trying to remember back to TT's list of Fico negative reason statements.

[Anonymous]

I think that one referred to installment or revolving, but I could be wrong.

[Anonymous]

@Anonymousthis is an inquiry into how you came by the handle "Birdman7" as it reminds me of the movie Birdman of Alcatraz.