@iv wrote:
@CH-7-Mission-Accomplished wrote:
@Anonymous wrote:That chart predicts my score will jump 25 points in the next month when I go from having 2 inquiries under 6 months to zero (but still the same number under one year).
My score is currently 733, that predicts a jump up to the neighborhood of 758.
We will see in the next six weeks if it is trueThis chart sucks big time. There is no way that one would lose 50 points for having 4 inquiries in six months. That's 12.5 points per inquiry. Also, it gives the second highest possible score for having a zero average balance across all cards. That would require all cards reporting a zero, and that is not good for FICO. And FICO doesn't care about absolute balance amounts (like dinging you most for a balance at 1K plus versus under $100. All that matters is percent utilization of all cards totaled, the number of cards with a balance, and whether any one card is at 90% or more.
Whoever made that chart does not understand FICO scoring. I have no doubt it was not published my FICO.
That chart is from a FICO World 2010 presentation by a FICO Principal Consultant for Scores and Analytics (J.W.)...
But it's an example, not an actual copy of the scoring criteria in any particular model. For that matter, a 2014 version of that slide changed the title from "Example FICO Scoring Model" to "Example FICO Score Reason Computation", and clarifies that the points listed are NOT part of the 850 scale, but rather part of the method for determining the four reason codes/score factors. (Reason code "selection and order based upon difference from maximum points" in each reason code category.)
Note that these presentations are available to FICO World/FICO Boot Camp attendees, and are marked "FICO Confidential - This presentation is provided for the recipient only and cannot be reproduced or shared without Fair Isaac Corporation's express consent."
They're published by FICO on the Intarwebs in at least 2 or 3 different locations. Think it's pretty much public domain now.
@iv wrote:
@Revelate wrote:That chart is laughably bad when it comes to any FICO algorithm... heck parts of it are more applicable to Vantage Score which is the truly LOL part of it.
...that's because it's NOT about the FICO scoring algorithm.
It's about reason code generation.
I think you'll actually be fairly interested in the newer version of that slide deck.
@Revelate wrote:They're published by FICO on the Intarwebs in at least 2 or 3 different locations. Think it's pretty much public domain now.
That's not exactly how public domain works, and you know it.
But yes, they are readily available, including on fico.com, with the right search terms.
You are correct, I misused the term. My point was I stumbled across them about a year or more ago unsecured on their website, and to my knowledge other people distributed them elsewhere.
My point was much like other information, it's so far distributed there's no hope of recalling it ergo "public domain"
I should've used different terminology, mea culpa.