Fico08, It's Coming Very Soon, Read This

[orl2185]

Got this from my yahoo account in reference to new fico 08, All comments welcomed.

Hooray for this forum, great to hear all the new recent success stories from other board members.

http://finance.yahoo.com/banking-budgeting/article/104062/Default-Lines-The-New-Math-of-Credit-Score...

[fused]

Thank you for your post! I don't see a credit card question or comment so I'm going to move this thread to the General Credit Issues Forum.

fused

[Anonymous]

Wonderful orl! Ty for posting.

[Anonymous]

maybe i'll go up a little bit since inquiries won't count as much.. I need to pay down my util more before this takes place.. anyone have an idea on when we should see a difference?

[orl2185]

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AlishaR wrote:
maybe i'll go up a little bit since inquiries won't count as much.. I need to pay down my util more before this takes place.. anyone have an idea on when we should see a difference?

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The new system will be implemented by end of spring sometime. The new inqs will only count as one if you apply for same creditor in a 6 mon span. Mods... correct me if I'm wrong please...

[Anonymous]

I have not read that one-

It sure would be nice- 3 of my EX inq's are from my CU

Open account

Open HELOC

Open CC

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orl2185 wrote:

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AlishaR wrote:
maybe i'll go up a little bit since inquiries won't count as much.. I need to pay down my util more before this takes place.. anyone have an idea on when we should see a difference?

---

The new system will be implemented by end of spring sometime. The new inqs will only count as one if you apply for same creditor in a 6 mon span. Mods... correct me if I'm wrong please...

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[orl2185]

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Timothy wrote:

I have not read that one-

It sure would be nice- 3 of my EX inq's are from my CU

Open account

Open HELOC

Open CC

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orl2185 wrote:

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AlishaR wrote:
maybe i'll go up a little bit since inquiries won't count as much.. I need to pay down my util more before this takes place.. anyone have an idea on when we should see a difference?

---

The new system will be implemented by end of spring sometime. The new inqs will only count as one if you apply for same creditor in a 6 mon span. Mods... correct me if I'm wrong please...

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Consider them gone really soon MOD, good for you

[smallfry]

From what I am hearing lately this new system is being pushed back further say 2009.

[orl2185]

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smallfry wrote:
From what I am hearing lately this new system is being pushed back further say 2009.

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Banks are pressuring fico for update sooner bc all the home defaults lately.

[Anonymous]

Thanks for posting this.  Unfortunately the writer does not cite FICO as a source of the info that the 08 version "could" be out this Spring .. so we'll all just have to hurry up and wait ...