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@Anonymous wrote:
I don't think profit is really tied to fico scoring, at least not directly. After all the most profitable customers are the ones carrying large bals with high interest only paying the min. It's up to banks to decide how much they are willing to risk on those types of customers. Fico simply gives the probability of loss based on comparative data.
FYI - Here is one example of how Fico 08 ties into credit card strategy.
A couple other links that may be of interest (2 step process to see articles)
https://www.experian.com/assets/consumer-information/white-papers/cis-trended-solutions-tl.pdf
https://www.google.com/#q=new+frontiers+in+credit+card+segmentation
@Thomas_Thumb wrote:
@Anonymous wrote:
I don't think profit is really tied to fico scoring, at least not directly. After all the most profitable customers are the ones carrying large bals with high interest only paying the min. It's up to banks to decide how much they are willing to risk on those types of customers. Fico simply gives the probability of loss based on comparative data.FYI - Here is one example of how Fico 08 ties into credit card strategy.
Having a hard time deciphering this...what is a revenue score?
It is a proprietary lender assigned score based on undisclosed criteria the lender has available. In this example the revenue score would in some way relate to spending patterns and analysis of spend amount over time.
The overlay, or secondary score scale, is commonly used. In such cases the lender assigns profiles a 2nd score (usually based on some internally developed model - but could be 3rd party) and uses it in conjuction with a credit scoring model (Fico/VantageScore) in credit decisioning.
See paste below and go to below link for more information.
https://www.fdic.gov/regulations/examinations/credit_card/pdf_version/ch8.pdf