Yep, a bit confusing. My OP was out of curiosity. But although I'm not putting a lot of effort in to figuring this out now I do wonder if V4 would be used more in the future, particularly when 10T takes hold. Synchrony has already presumable started using V4 for credit decisions. Both models have similar if not the same concept with V4 likely being cheaper.(?)
With what seems to be more AA post lately I wonder if things are turning and this trended concept will take hold sooner. It just caught me off guard when I noticed the lesser impact payment history has...of all things.
I may have posted about this a while back, but can't find the thread if I did. The screenshot displayed is the fluff scoring criteria provided by Synchrony on their CC accounts with a VS4 score. Anyone find this to be rather bogus? Does anyone really believe that Payment History, the #1 scoring criteria for Fico is weighted/ranked #3 for VS4, behind credit mix?
I pulled this directly from VS and it aligns exactly with what I got from Synchrony regarding VS 4.0 scoring criteria. This does confirm for me that Payment History is indeed third on the list in terms of what's important to the algorithm. I still find that outrageous, unless VS4 is predicting something other than chances of someone defaulting like Fico does.
What's even more strange to me is that if you look at VS3 criteria verses VS4, it's quite different. VS3 aligns more to the Fico pie where Payment History and Amounts Owed are at the top of the list. For some reason VS4 throws Payment history down to third on the list. That seems odd, especially considering that VS4 incorporates trended data into the model. I would think TD would make payment history even more impactful if anything.
I'm not surprised. When I had an almost 0% utilization, I broke 700s even though I still had late payments and collections.
They also only go back 4 years.
