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Free Transunion Credit Based Insurance Scores thru CK

Valued Contributor

Re: Free Transunion Credit Based Insurance Scores thru CK


@beutiful5678 wrote:

Very helpful step-by-step instructions!

 

The dip in May was due to a 30-day late reporting (went Apr 852 --> May 789 --> Jun 852) and the score seems to have bounced back quickly. I think the two things helping my score (per the screenshot and link below) are the thickness and length of my history. I have 40 accounts, AAoA is 7.8, and AoOA is 12.1 years. (Unfortunately, along with that thick history I also have 70+ lates payments reporting - having multiple Stafford loans can be a blessing and a curse.)

 

My home insurance score "needs work" - it's probably a good thing that I don't own a home, LOL.

https://www.creditkarma.com/auto/i/insurance-scores-affect-car-insurance-rates/

 


I appreciate the info so far. More would be better. Hopefully SJ, BBS, CGID and others are willing to share.

 

From what I can tell so far TU CBIS:

1) Does not consider # accts reporting balances (my score stayed the same month to month regardless of # reporting.

2) Does consider time since most recent credit ap rather strongly (this includes HPs for CLIs)

3) Does consider recent BC openings with none in the last 24 months being optimal

4) Does consider AAoA  (optimal value > 4.5 years) but not AoOA in general.

5) Uses a 5 year timeframe for charge offs, collections.

6) Looks at 60+ day lates only with focus on # 60+ day lates in the last 12 months and AoOA with a 60 + day late. Settled 30 day lates do not have a lingering impact.

7) Considers average CL but does not consider aggregate UT%.

8) Considers # of bank installment loans with < 6 being preferred

9) Does not appear to look at credit mix and file thickness (other than too many accts)

 

Provided below is a summary table of data from above posts. I'll add to it as more data becomes available. New posters can include as little or as much information as they are comfortable with. [last update 6/5/2018]

 

Poster ID* T_T ** T_T *B5678Gmood1HOhioSubE-BBS-Sarge
TU Auto CBIS902869852774 860 820 903 912
TU Home CBIS950917698847 897 850 912 823
File Descriptioncleancleanderogclean clean clean clean clean
Average Age of Accounts (mo)1862059235 76 14 91 
Average card CL (optimal > $9k)20,10023,600 360 17,900 10,200 6100 23,900 
AG UT%23 62 2 3 1 1 
# installment loans (optimal <6)11 1 3 0 1 1 
Most recent BC opened (mo)4679 4 7 15 7 13 
# card aps < 12 mo00 2 6 0 3 0 
# card aps < 24 mo00 ? 14 5 5 6 
Most recent credit AP/HP (mo)466 32 7 7 13 
# collections < 5 yr age00 3 0 0 0 0 
# Charge offs < 5 yr age00 6 0 0 0 0 
# +60 day lates <12 mo age (opt < 5)00 0 0 0 0 0 
most recent delinquency retail acctn/an/a 1 n/a n/a n/a n/a 
AoOA 60+ days laten/an/a 23 n/a n/a n/a n/a 

 

Based on the TU reason statements 30 day lates are not considered and focus for 60+ day lates is the last 12 months. Clearly there are differences between Auto and Home - otherwise no need for two models. Question is how to differentiate. B5678's much higher Auto score vs Home coupled with GMOOD1s higher Home score vs Auto might help shed some light on this but, more data is needed

Fico 8: .......EQ 850 TU 850 EX 850
Fico 9: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
VS 3.0:...... EQ 835 TU 835 EX 835
Fico 8 BC:. EQ 892 TU 900 EX 900
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 11 of 36
Community Leader
Valued Contributor

Re: Transunion Credit Based Insurance Scores

TT, what's BC? And does AP/HP stand for application/hard pull?

Message 12 of 36
Valued Contributor

Re: Free Transunion Credit Based Insurance Scores thru CK

BC = Bank Card (likely includes credit cards in general as TU CBIS does not appear to differentiate store cards)

AP/HP = credit application with a hard pull. This includes CLI and other types of requests that receive a hard inquiry (pull).

Fico 8: .......EQ 850 TU 850 EX 850
Fico 9: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
VS 3.0:...... EQ 835 TU 835 EX 835
Fico 8 BC:. EQ 892 TU 900 EX 900
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 13 of 36
Community Leader
Valued Contributor

Re: Transunion Credit Based Insurance Scores

Thanks for the clarification.

 

I've seen it posted numerous times in the scoring forum that retail cards ding insurance scores. Care to comment? Smiley Happy

 

Here's my TU info:

  • TU Auto CBIS: 860
  • TU Home CBIS: 897
  • File Description: clean
  • Average Age of Accounts (mo): 76 (Pulled from myFICO rather than Karma due to their omission of closed accounts. Karma has me at 96 months including only my open accounts.)
  • Average card CL: $10,150 ($9,400 if closed accounts are included)
  • AG UT%: 3%
  • # installment loans: 0 (open or closed)
  • Most recent BC opened: 15 months
  • # card aps < 12 mo: 0
  • # card aps < 24 mo: 5
  • Most recent credit AP/HP (mo): 7 months (CLI)
  • # collections < 5 yr age: 0
  • # Charge offs < 5 yr age: 0
  • # +60 day lates <12 mo age (opt < 5): 0
  • most recent delinquency retail acct: n/a
  • AoOA 60+ days late: n/a

 

I see my auto score bumped up by 20 points in May. It's possible that it's due to accounts aging. Or maybe it's because a November inquiry reached six months in age.

 

My home score was at 912 last November and dropped to 894 after an inquiry. It's worked its way up by three points since then.

Message 14 of 36
Valued Contributor

Re: Free Transunion Credit Based Insurance Scores thru CK


@HeavenOhio wrote:

Thanks for the clarification.

 

I've seen it posted numerous times in the scoring forum that retail cards ding insurance scores. Care to comment? Smiley Happy

 

I see my auto score bumped up by 20 points in May. It's possible that it's due to accounts aging. Or maybe it's because a November inquiry reached six months in age.

 

My home score was at 912 last November and dropped to 894 after an inquiry. It's worked its way up by three points since then.


Thanks for the data.

 

Neither TU nor Fico CBIS models appear to differentiate between retail store cards and "Bank" cards other than TU mentioning it in a delinquency age metric. However, LexisNexis, the market leader in CBIS, does differentiate retail/store cards from Bank cards as evidenced in their reason code list. LN also calls out gas cards - FWIW.

 

It is important not to lump all CBIS models together. These models differ one from another. It's not all that different than what we encounter trying to compare VantageScore to Fico.

Fico 8: .......EQ 850 TU 850 EX 850
Fico 9: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
VS 3.0:...... EQ 835 TU 835 EX 835
Fico 8 BC:. EQ 892 TU 900 EX 900
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 15 of 36
Senior Contributor

Re: Transunion Credit Based Insurance Scores

Average CL on 29 BCs reporting is $17,9xx. Total revolving reporting credit limits minus one line of credit is $519,700.

Overall reporting utilization is less than 1%. Closer to 2% with hidden TLs.
No derogs or lates, file completely clean.
Two youngest bank cards reporting, were obtained 7 months ago. Two others 8 months ago. One at 10 months and another at 12 months.
Last HP April 2018.
Succesful card apps last 24 months reporting to TU is 14. Real number is closer to 20 total, with some hidden or not reporting to TU.
I have a total of 19 closed accounts still reporting.
3 active installment loans. 9 installment loans reporting.

Let me know if you need anything else.
FICO 8 Scores EQ=776 TU=783 EX=777 (INQ) EQ=12 TU=11 EX=11
TCL=$600K+ / AAOA= 2.9 yrs / Oldest account = 10.9 yrs
Message 16 of 36
Community Leader
Valued Contributor

Re: Transunion Credit Based Insurance Scores


@Thomas_Thumb wrote:
Neither TU nor Fico CBIS models appear to differentiate between retail store cards and "Bank" cards other than TU mentioning it in a delinquency age metric. However, LexisNexis, the market leader in CBIS, does differentiate retail/store cards from Bank cards as evidenced in their reason code list. LN also calls out gas cards - FWIW.

 

It is important not to lump all CBIS models together. These models differ one from another. It's not all that different than what we encounter trying to compare VantageScore to Fico.


Thanks for the clarification. In the future, we can specifically mention LexisNexis when we say that retail cards cause a ding.

 

I've seen it posted here that in addition to gas cards, LN doesn't like retail cards for auto parts stores either.

Message 17 of 36
Established Contributor

Re: Transunion Credit Based Insurance Scores


@Thomas_Thumb wrote:

 

 

I would pay to check my LexisNexis CBIS as well - but those scores are no longer available Smiley Sad Smiley Mad The takeaway for me is CBIS models appear to be very sensitive to credit seeking relating to HPs alone. I shudder to think how the models would treat a bunch of new accounts (particularly store cards).


Why are those scores no longer available?




Starting Score: Ex08-732,Eq08-713,Tu08-717
Current Score:Ex08-778,Eq08-765,Tu08-775
Goal Score: Ex08-800,Eq08-800,Tu08-800


Take the myFICO Fitness Challenge

History of my credit
Message 18 of 36
Regular Contributor

Re: Transunion Credit Based Insurance Scores


@Thomas_Thumb wrote: 
Poster ID* T_T ** T_T *B5678Gmood1HOhio************
TU Auto CBIS902869852774 860  
TU Home CBIS950917698847 897  
File Descriptioncleancleanderogclean clean  
Average Age of Accounts (mo)1862059235 76  
Average card CL (optimal > $9k)20,10023,600363 17,900 10,200  
AG UT%2362 2 3  
# installment loans (optimal <6)11  3 0  
Most recent BC opened (mo)4679 4 7 15  
# card aps < 12 mo00 2 6 0  
# card aps < 24 mo00 2 14 5  
Most recent credit AP/HP (mo)466 32 7  
# collections < 5 yr age00 3 0 0  
# Charge offs < 5 yr age00 6 0 0  
# +60 day lates <12 mo age (opt < 5)00 0 0 0  
most recent delinquency retail acctn/an/a 1 mo n/a n/a  
AoOA 60+ days laten/an/a 23 mo n/a n/a  

 

Based on the TU reason statements 30 day lates are not considered and focus for 60+ day lates is the last 12 months. Clearly there are differences between Auto and Home - otherwise no need for two models. Question is how to differentiate. B5678's much higher Auto score vs Home coupled with GMOOD1s higher Home score vs Auto might help shed some light on this but, more data is needed


Is this just open installment loans or total installment loans? I have 1 open installment loans and 30 total installment loans.

TCL: $1,450 | AAoA: 7.8 yrs (I can thank my student loans for this) | Util: 62% (high due to charge-offs) Smiley Sad
Cleaning up and rebuilding after a long hiatus from credit
Message 19 of 36
Valued Contributor

Re: Free Transunion Credit Based Insurance Scores thru CK


@Subexistence wrote:

@Thomas_Thumb wrote:

 

I would pay to check my LexisNexis CBIS as well - but those scores are no longer available Smiley Sad Smiley Mad The takeaway for me is CBIS models appear to be very sensitive to credit seeking relating to HPs alone. I shudder to think how the models would treat a bunch of new accounts (particularly store cards).


Why are those scores no longer available?


I suspect LN no longer offers CBIS to consumers because the major insurance companies "suggested" they discontinue the practice. Given the limited revenue from consumers purchasing the score, why antagonize your primary customers? Also, unlike denials for credit, disclosure of scores/reasons for high insurance premiums is not required by law.

 

I wrote LexisNexis a note about this. Below is their response:

LN response.jpg

Fico 8: .......EQ 850 TU 850 EX 850
Fico 9: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
VS 3.0:...... EQ 835 TU 835 EX 835
Fico 8 BC:. EQ 892 TU 900 EX 900
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 20 of 36