FICO Causes and Effects (What Happened, and How Did it Affect Your FICO?)

[Anonymous]

That is awesome. It works from my desktop. I can change history and everything on it too. This is awesome. I also tried it on Eq ver of SW and it did not work. Just plug it in as active desktop. Woop there it is! I turned it in to a Score Watch Tracker Just for this alone it blows away EQs version of SW. I don't have to log in to get scores any more.

As far as it being free. No can do. I tried it with an account that was canceled. It gives me an error. Only works if your account is active. THIS ROCKS!

[haulingthescoreup]

OK, for those of us with just enough knowledge to be dangerous, can you pls give us an Idiot's Guide? Step 1, right-click on your SW graph. And so forth. And are you doing this through IE or Firefox?

I can't even figure how to post images from myFICO reports to a thread. And if anyone else tells me to right click and paste it, I'll smack 'em. I can't make "paste" come up as an option.

[Anonymous]

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@haulingthescoreup wrote:
OK, for those of us with just enough knowledge to be dangerous, can you pls give us an Idiot's Guide? Step 1, right-click on your SW graph. And so forth. And are you doing this through IE or Firefox?

I can't even figure how to post images from myFICO reports to a thread. And if anyone else tells me to right click and paste it, I'll smack 'em. I can't make "paste" come up as an option.

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Right mouse click and copy image URL. Then you can save it and paste it in your browser any time you want to see your score! If you want to be geeky about it you can load it in to your active desktop in Windows to load the image every time you turn on your computer. Each day the image is pulled it reflects your score watch graph as of that day. So basically my background image is now a score graph that refreshes each time I turn on my computer. No logging in needed. I will get score updates before alerts come to my email.

Do I rock or what? All this excitement because you pointed out that it updates. You rock too! You can choose how many moths too.

Message Edited by ilovepizza on 02-06-2008 05:51 PM

[haulingthescoreup]

OK, so five and a half years of French, three years of German, a couple semesters of Latin, one semester of Russian, and some Spanish back in third grade, and I don't get any of that at all. (I gave up on Spanish because I can't roll my r's to save my life.)

But I'm glad that at the age of 53, I still rock, and I have all the moths that I need fluttering around my front porch light. (just teasing, pizza, I love you dearly!)

Tomorrow I will load up on coffee and stare at your post again.

[Anonymous]

For FIREFOX.
Right mouse click on the graph image.
Click "Copy link location"
Click in your browser like you are going to type in a URL, but instead hit CTRL-V (or edit paste) in your browser. From here you will see your graph loaded. Set as a BookMark. When ever you go to this bookmark it is updated.

For Internet Explorer.
Right mouse click, then click on Properties.
Highlight the Address URL and click CTRL-C (to copy)
Click in your browser like you are going to type in a URL, but instead hit CTRL-V (or edit paste) in your browser. From here you will see your graph loaded. Set as a BookMark. When ever you go to this bookmark it is updated.


If you want this to load as a background image on your desktop and update each time you turn on your computer or reload wondows,
To place on desktop in windows (more complicated)
Right mouse on desktop.
Click properties.
Click desktop.
Click Customize.
Click Web.
Click New and paste in image graphic using CTRL-V.

But for the most part this is more advanced. Easier for most to just make a bookmark in their browser and click the bookmark when ever they want to see current score.

This information will cost you 30 FICO points paid through Equifax to my account. hehe.

Message Edited by ilovepizza on 02-06-2008 06:39 PM

[haulingthescoreup]

Bless you!!! This is why I requested the Idiot's Guide version!

[tryingtogetitrightnow]

Yep, this is very cool (and/or potential privacy leak) depends on how you look at it. I'm a software developer. :-)

[Anonymous]

Let me count the ways where I think the scoring is bogus:

1.  It doesn't account for your salary, net worth, or percentage of debt.  You better believe that a lender takes these items into consideration.

2.  It doesn't account for taking out a zero percent CC loan & putting it to use earning interest.  So, if you want to use other people's money to make money, that's a bad thing?

3.  It doesn't account for paying off a CC balance every month & getting a 1-3% kick back on purchases.  Again, making money by charging, that's bad?

4.  It counts the fact that you've had 50 accounts over 40 years, all paid on time.  So what?  If you get a discount on purchases when you open an account & pay it off, then close it, that's bad? 

5.  It counts enquiries.  What's that got to do with your ability to pay off loans?  Absolutely nothing!

6.  It doesn't seem to carry forward old non-paid debts after a while.  Thus if someone doesn't pay off old debts they are not penalized (e.g., after 7 or ten years).  How's that fair to us who haven't ever been late over the same time period (say 10 years plus)?

I have other reasons, but I can't remember them all (having a senior moment)...

Anyone want to chime in?

[haulingthescoreup]

Hi, steveD, welcome to the forums!

We LOVE to argue back and forth about stuff like this, but you'll find pretty quickly around here that it's hard to get responses on threads like this that are already really long. In addition, this thread is meant to serve as sort of a summary of different members' experiences with score changes, and so this post is a bit OT. (And I live OT, believe me!)

I think you have a great post. Can you please copy it, start a new thread here on Understanding FICO Scoring, and paste it there? I think you'll get a lot more discussion that way.

I'm ready to take on #'s 1 and 5!

[marty56]

1.  It doesn't account for your salary, net worth, or percentage of debt.  You better believe that a lender takes these items into consideration

FICO was designed to predict your likelyhood of defaulting on a loan.  In that case, the primary issues are payment history length of history and util to CL ratio

Two people with a 760 credit score may qualify for the same mortgage interest rate but one person may get a 100k loan and the other may get a 500k loan because of the ability of the second person to pay more on the monthly payment.

It would not be possible to have a credit score that takes both into account..