FICO Auto Score 8-what's a good score?

[Thomas_Thumb]

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@Anonymous wrote:

Howdy all -

Since I'm the king of rambling - I'll try to keep this brief as I haven't a clue what these 2 pages are about.

Given my situation - Where does one go for an auto loan that pull only TU or EQ? Just wanna get the best APR% deal and not step on a landmine should they pull an EXP report...

Cheers-

BB

PS: OK - after rereading Page 1 and the rest of Page 2 here again... On that chart (which needs updating to reflect BKC09 now) I have 3 Q's still...

1) As the original poster (OP) asked "What IS a good Auto Loan Score"?? Good question that seems to not really be answered clearly ... Anyone? T_T with all the charts and 850 & 900 perfect scores (if that's you?) I'd think would know this answer best... Or, what qualifies as a "well qualified buyer" with these Mfg offers? "800+" ?? ... or will my 778 scores get me anywhere???

2) What does that "10%-90%" represent across the top of your Auto Score chart?? I also see it again on your PDF link that you kindly provided us for FICO8... and shows my 778 is like 77% - what does that mean?? I'm certain it's something simple and basic but at 3:18AM - Yawn - my brain has checked out....

3) How do I add my scores and card images etc in my footer? I don't see any options within my account setup on here (low priority obvs!) Thanks!

So much for not rambling - sorry again!

TIA

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Provided below is an updated table based on 2017 data that includes Fico 9.

The % refers to percentile of scoreable population in the Experian data base that would have a score at or below the the value listed. All the Fico versions including industry options are within 15 points of each other in 20th to 60th percentile range. For those who looking for categorical labels generally... 720 is good (50th percentile), 760 is very good (60th percentile) and 800 is excellent (80th percentile).

A score of 760 is often quoted as the benchmark for best rates and a score of 720 is competitive.

Experian Version	5%	10%	20%	30%	40%	50%	60%	70%	80%	90%	95%	99%
Auto Fico 9	488	528	600	653	693	725	759	793	822	845	855	876
Auto Fico 8	492	533	601	649	688	718	744	773	802	832	851	879
Auto Fico 04	497	539	604	655	695	729	762	792	816	835	847	872
Auto Fico 98	497	535	589	640	681	715	748	776	798	819	831	857
Bankcard Fico 9	491	530	597	649	688	718	753	790	818	839	849	868
Bankcard Fico 8	493	529	594	642	684	719	750	783	812	837	853	881
Bankcard Fico 04	512	548	603	649	688	725	762	796	822	845	855	873
Bankcard Fico 98	516	548	594	641	685	725	761	791	817	840	849	865
Classic Fico 9	485	524	595	649	690	719	751	782	808	830	839	850
Classic Fico 8	497	535	598	650	689	721	747	774	798	818	830	850
Classic Fico 04	510	549	608	655	690	720	751	779	798	814	820	834
Classic Fico 98	511	544	596	646	687	724	756	782	801	818	827	839
VantageScore 3.0	494	522	553	607	655	675	709	747	783	810	820	832
Nat. Equivalency	580	609	639	661	687	718	753	781	804	824	836	839

[Anonymous]

Many many thanks! the % thing was throwing me off... I'm def no CPA! cheers!

BTW, I just returned from a 120 day vacation in Europe and hit my cards pretty hard... My UTIL went from 3% to 18% but am paying all that off in full now - but will take 30-60 days to "cycle" in and out and get posted and marked as paid... Point? Much to my surprise, despite having over $100K in premium cards and not going over 30% (didn't even go over 20%!) all in all when ALL the bills rolled in, my scores dropped 45-75 pts!!!! I busted my hump to get over 800 this past year, and my heart just sinks now when I open my credit score apps and see 730ish now This "game" is both SICK and so unfair! - You don't use any credit yet get CLI and PIF and finally break 800 after 2 yrs - yet we go on a vacation and use 15% and get dinged 75pts??? (in just a 2-4 weeks span??) - and you know despite being PIF it'll take 90-120 days to all get reported and pray I get back up over 800 again... WHY do they do this?? I could see if I maxed out all my cards at like 90% and then paid just the minimums - but come on??? So rigged... Also Wells Fargo is stuck in the stone age still using BankCardFICO 8 and have a medical bill my insurance company is dragging their feet on and landed in collections 5 yrs ago - I've tried everything to get it removed (Pay/Delete) but the agency, despite having no leverage b/c it's yrs beyond the SOL won't remove it even if I pay it in full vs. my insurance company (I just want it gone) but point is, FICO 9 and newer scoring models don't count old medical bills - so my EQ & TU scores shot up 65-85+ pts, yet BankCard08 EXP on some reports still shows it listed?? In a few months it'll be 7 yrs and I will challenge it again and it'll drop off finally but yet again, this 'game' they play drives me crazy! Point in sharing that story is I see Auto FICO 8 & 9 and curious if that's the same FICO 8 Bankcard one I'm running into at times? Will the dealer tell me if I ask which they use for a HP? Does anyone know who CapOne use to both SP&HP from? I only ask b/c they approved me over the summer for $65K at 2.99%APR up to 5%ish... Thoughts?

Many thanks!

BB

[Thomas_Thumb]

Your score drop appears on the surface to be a bit excessive. Aggregate utilization going from 3% to 18% could account for 20 to 30 points drop but not 45 to 75 points. Did any of your individual cards exceed 49% or 69% utilization?

The good thing about utilization is it is a point in time impact with no lingering effect. Pay bills, have lower balances report and score rebounds. Frankly, I don't worry about day to day score fluctuations associated with card utilization and # cards reporting balances. The only time those attributes really matter is the weeks preceeding a request for new credit. Key point is to never have a late payment.

[Anonymous]

Sorry for the slow response - I locked myself outta this site when I changed PC's (Mac) and when I couldn't log in properly after 3x it locked me out and was just too busy with other things to mess with it at that time (but appreciate your reply just the same)

You raise an interesting point - my overall TOTAL util was only 3% and as said, after vacation it shot up to 18% (all accounts averaged) but I didn't think about a SINGLE card - so I went back and looked and yeah - I have a BOA card that I used a 0% 24 month check offer for (basically was emergency pocket cash for the holiday) and that was about 80% of my BOA total credit line on THAT card b/c it's a newer card and didn't have a very high SCL - and didn't even think of that aspect (but knew better as I always spread out larger purchases across several cards vs. just 1) I was running around getting ready for travels and the holidays etc - and just didn't think - ALL my (now) 24 cards are not over 0%-8% paid, except that one BOA - after paying on it some, it's still around 65% b/c I'm taking advantage of the 24mo 0%APR - but it is "red" on my credit report as it's showing being close to maxed out - I was paying it down slower than the other b/c of the 0% APR - but guess I should put it back into regular rotation and get it paid off or to at least the sub-20% range to help my score some?

Thanks-

BB PS: I've never ever paid late - Usually PIF the 1st day I get my online statement - so that's not an issue... Just saw that comment in your post

[Anonymous]

120 day vacation?  Man, I've been doing this all wrong only taking 1-2 weeks off at a time! lol

[Anonymous]

In fairness it was mostly work as I live in London 6 months out of the yr working from our UK office for the past 5 years. Had to go back to visit our Paris, Monaco and Prague warehouses and remote offices to renew and close our leases. But since it was over the holidays (my S.O. is Brit) we made a 90 day “working holiday” out of it and spared me a nasty thanksgiving here lol 😂 and much rather spend Xmas with her family. So I spent OCT/NOV and then JAN in mainland Europe whilst she stayed in London and I rang up quite the bill with hotels and travels. I did discover that the “hard line” with C/A’s and your score is 20%. Util. Cross that and you’ll dip -20 to -30 pts easily. The second I paid all that off my score climbed +37 pts. It also depends too if your at 795 vs 695. That same 20% util hit will drop your 695 score to only like 680 whereas the 795 will get zapped -65pts!!. Sadly I’ve seen it with my own eyes all 3 reports side by side by side. Once you break 8.99% util you’re basically in “excellent” utilization territory. The only way to get your score any higher with that part of the % equation is to carry a $0 balance - that’ll get you another 15-25 pts or so. Time or AAOA is my current enemy as most of my credit is in England - took me 4 yrs to rebuild my US credit file from ZERO (Dave Ramsey would luv me having that score. As he’s convinced that’s the ideal: having a 0 score. Not if you travel 200 days a yr and want a house) but I went from “0” (as everything good and bad fell off my USA report after 5 yrs and literally had a blank credit report. It was like being 15 y.o. all over again) but then took that 0 to 795 in 24 months with 21 credit cards. 4% utilization before this trip but paid most of it off now.

Cheers.