The other 10%

[Anonymous]

On the myfico home page, it says "90% of the largest banks use your FICO score for credit decisions."  I wonder who the other 10% of the largest banks are, and what scores they use?

[RobertEG]

LOL!

That is marketing crap!  FICO scores never direclly control creditor lending.

Yes. most  lendors use FICO scores as part of their lendng decision.

But that is kinda misleading.  They may consider it, but it may not govern any credit decision.

It is just a piece of their decision.

If it is a low principal, and thus low r\isk decision to lend, then smaller lendors may put high. if not total, reliance on your FICO score in their deciaion making.

No more expense to investigate you.

But the higehr the credit you seek, the more the prosepctive lendor will ask for more than just a three digit FICO score.  FICO is not any analysis of your credit wothiness, it is an ana;ysis of your projected chance of payment risk.

FICO does not even consider your income or total debt.  Higher principal lendors will ask you for that.

[LIGHTNIN]

Maybe the other 10% of banks, use their own way of credit scoring.

[daisyduke]

Yeah Lightin, could be in house credit algorithms, like AMEX I believe uses their own. From the 50K posts I've read...I can only find that two creditors use Vantage - Kohls and some other credit union and I can't recall the name.