cancel
Showing results for 
Search instead for 
Did you mean: 

FICO Score Stress Indicators/Indexes

joeyv1985
Frequent Contributor

Re: FICO Score Stress Indicators/Indexes


@CassieCard wrote:

@joeyv1985 wrote:

the Resilience Index focuses more on keeping your credit utilization low, avoiding too many accounts, and maintaining a long credit history.

 

Uuugh. I worked so hard to get back where I'm at since the last recession.  I'm not going down without a fight. Thanks for pointing this out CassieCard. 


I think you're doing just fine, with an EX 8 score of 755!

 

Recent inquiries and new accounts are likely to be a lender's greatest concern these days.


Thanks Cassie

Message 421 of 1,053
CreditobsessedinFL
Established Contributor

Re: FICO Score Stress Indicators/Indexes

6DE8F7D1-C36C-4D71-A81F-6381984E2B2A.png

My apologies @CassieCard , I did not realize you had to click on each flag for the explanation, so thank you for asking for clarification, which made me go back and look more closely. It is still the same 2 flags,  with the headings you identified.  

Message 422 of 1,053
CassieCard
Senior Contributor

Re: FICO Score Stress Indicators/Indexes


@CreditobsessedinFL wrote:

6DE8F7D1-C36C-4D71-A81F-6381984E2B2A.png

My apologies @CassieCard , I did not realize you had to click on each flag for the explanation, so thank you for asking for clarification, which made me go back and look more closely. It is still the same 2 flags,  with the headings you identified.  


All good! I changed it back to 2 flags here: https://ficoforums.myfico.com/t5/General-Credit-Topics/FICO-Score-Stress-Indicators-Indexes/m-p/6084...

28 FICO Scores + FICO RESilience Index + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

Keeper of the Scrolls of Resilience: EQ FICO Resilience Index Score Leaderboard (59 People!)

Message 423 of 1,053
Birdman7
Super Contributor

Re: FICO Score Stress Indicators/Indexes


@CassieCard wrote:

@Birdman7 wrote:
To begin with, it should only have the possibility of being used by Equifax Pullers. Then how many of those are actually going to use it?

Experian has a webpage for the Resilience Index, directed at lenders, of course.

 

One of these months we might see our EX FICO Resilience Index score show up on the dashboard there.


Really??!! Does TU have a version too ? @CassieCard 

-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.

RIP:

(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 424 of 1,053
CassieCard
Senior Contributor

Re: FICO Score Stress Indicators/Indexes


@Birdman7 wrote:

@CassieCard wrote:

@Birdman7 wrote:
To begin with, it should only have the possibility of being used by Equifax Pullers. Then how many of those are actually going to use it?

Experian has a webpage for the Resilience Index, directed at lenders, of course.

 

One of these months we might see our EX FICO Resilience Index score show up on the dashboard there.


Really??!! Does TU have a version too ? @CassieCard 


I haven't found anything specific to TU, but there's this (halfway down the page, CTRL-F for resilience) from the CEO of FICO:

 

"And while obviously, that's the prudent thing to do, we'd love for that to be a little more sophisticated and surgical and be able to evaluate some of the individuals below those cutoffs with more precision.

 

And that's really what FICO Resiliency Index does. It'll be bundled with the FICO Score. It will be widely available to anyone who's buying FICO Scores. It is currently in test, as you said, with Equifax and the Dow, Experian will have it out too. TU should follow. And yes, we have high expectations because it's been very well received today."

 

Yes...very well received....haha

28 FICO Scores + FICO RESilience Index + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

Keeper of the Scrolls of Resilience: EQ FICO Resilience Index Score Leaderboard (59 People!)

Message 425 of 1,053
Birdman7
Super Contributor

Re: FICO Score Stress Indicators/Indexes

That sucks I should’ve known. The Dow?

-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.

RIP:

(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 426 of 1,053
CassieCard
Senior Contributor

Re: FICO Score Stress Indicators/Indexes


@Birdman7 wrote:

That sucks I should’ve known. The Dow?


Maybe they use the index as part of some economic predictor? Like 'aggregate consumer/business resilience'. I couldn't find anything on that.

28 FICO Scores + FICO RESilience Index + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

Keeper of the Scrolls of Resilience: EQ FICO Resilience Index Score Leaderboard (59 People!)

Message 427 of 1,053
Flyingifr
Established Contributor

FICO Resilience Index - a new nonsense number

I checked my FICO file today and I see that my FICO Resilience Index has not changed one iota in the past month, so I thought I would present the facts and ask just what FICO is talking about. In my Resilience Index I am at 56 - the troublesome end of "Moderate" and 4 points from "Sensitive". In the FICO Resilience Index, the lower the number the better, from 1 to 99. My score has two red flags - Amount of Debt and Credit Mix. Let me discuss them each separately.

 

Amount of Debt - Amount of Debt - FICO explanationAmount of Debt - FICO explanationThis one is pretty simple - the more debt, the less resilient you may be to financial shocks. Makes sense, but what doesn't make sense is that FICO sees absolutely NO debt in my credit file. Zero balances on EVERYTHING, and FICO sees that as a weakness.

 

Credit Mix - Credit Mix - FICO explanationCredit Mix - FICO explanation

This one is a little more complex. FICO looks at having a variety of credit types as a stregnth when facing financial stress. FICO is red-flagging me because all I have are credit cards - no installment loans. I admit it - all my loans have been paid off, and any credit card debt I have was charged within the past week and will be paid off by the end of the week. Would someone at FICO please explain to me how having no installment debt and  at most 1% Util on the revolving debt is a financial weakness? I would think it is a financial stregnth. After all, if one has no debt, the probability of defaulting on that nonexistent debt is pretty low, and with no debt payments committed to, one's ability to weather a finacial crisis should be better than that of someone with a Debt to Income ratio of 30%.

 

Here are my FICO-8 scores.

 

 

FICO-8 ScoresFICO-8 Scores

**bleep**, looks to me like I'm a half an hour from bankruptcy. Too bad FICO doesn't show my $80,000 cash in the bank and my net worth of a half a million dollars.

4/1/2017 EQ 579 TU 595 EX588
9/20/2018 EQ 810 TU 807 EX 795
6/12/19 EQ 820 TU /789 EX 793
12/13/2019 EQ 835 TU 813 EX 810 Finally made it into the 800 club on all 3 Bureaus - only took 25 years.
8/29/2020 EX 776 EQ 761 TU 768 - I paid off my mortgage and car loan and am debt free forever, and FICO threw me out of the 800 club as a reward
Message 428 of 1,053
40thieves
Established Member

Re: FICO Resilience Index - a new nonsense number

The 'credit mix' portion of FICO scoring is maddening, especially in this instance.  We own our house and cars outright, so the only installment loan I have is a Self loan...just to HAVE something that's not a revolver.

Message 429 of 1,053
Birdman7
Super Contributor

Re: FICO Resilience Index - a new nonsense number

Real world went out the window in design
-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.

RIP:

(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 430 of 1,053
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.