FICO NG1 Score

[Cory88]

How is the FICO NG1 score different then other scores? This is the score the HSBC uses.

[donkort]

FICO NG=FICO "Next Generation."  I think it's an Experian score.

Their scores range from 150-950.  They use different algorhithms from the usual FICO models.  I'm not quite sure in what way it's different.

The average FICO-NG score is similar to the "usual" FICO scores, though.

[Revelate]

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@Cory88 wrote:

How is the FICO NG1 score different then other scores? This is the score the HSBC uses.

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Doubtful.  FICO NextGen was 2001 for NG1, and 2003 for NG2.  It's not Experian specific, actually EQ is the one who I think may still be selling it under the Pinnacle name?  I don't recall Experian actually ever having it in the last decade, and I don't think it's on TU's disclosures either as an algorithm for sale.

It's an strange score compared to the typical FICO algorithms, i.e. store cards for example flatly count differently much like the awkward insurance scores you occasionally read about here.  Basically FICO tried a bunch of things compared to the FICO 98 model, and then backtracked on most of them for the FICO 04 release which is still mainstream.  Honestly I thought Penfed was the last lender we knew about to be using NextGen scores and even they dumped it in favor of FICO 9 maybe a year ago?

Anyway, same thing as any other score: pretty file = pretty score, optimize your file and don't sweat it.

[Anonymous]

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@Revelate wrote:

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@Cory88 wrote:

How is the FICO NG1 score different then other scores? This is the score the HSBC uses.

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Doubtful.  FICO NextGen was 2001 for NG1, and 2003 for NG2.  It's not Experian specific, actually EQ is the one who I think may still be selling it under the Pinnacle name?  I don't recall Experian actually ever having it in the last decade, and I don't think it's on TU's disclosures either as an algorithm for sale.

It's an strange score compared to the typical FICO algorithms, i.e. store cards for example flatly count differently much like the awkward insurance scores you occasionally read about here.  Basically FICO tried a bunch of things compared to the FICO 98 model, and then backtracked on most of them for the FICO 04 release which is still mainstream.  Honestly I thought Penfed was the last lender we knew about to be using NextGen scores and even they dumped it in favor of FICO 9 maybe a year ago?

Anyway, same thing as any other score: pretty file = pretty score, optimize your file and don't sweat it.

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Actually HSBC does indeed use EQ Pinnacle aka FICO NextGen. It was on my prequal denial letter last year. 

[Revelate]

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@Anonymous wrote:

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@Revelate wrote:

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@Cory88 wrote:

How is the FICO NG1 score different then other scores? This is the score the HSBC uses.

---

Doubtful.  FICO NextGen was 2001 for NG1, and 2003 for NG2.  It's not Experian specific, actually EQ is the one who I think may still be selling it under the Pinnacle name?  I don't recall Experian actually ever having it in the last decade, and I don't think it's on TU's disclosures either as an algorithm for sale.

It's an strange score compared to the typical FICO algorithms, i.e. store cards for example flatly count differently much like the awkward insurance scores you occasionally read about here.  Basically FICO tried a bunch of things compared to the FICO 98 model, and then backtracked on most of them for the FICO 04 release which is still mainstream.  Honestly I thought Penfed was the last lender we knew about to be using NextGen scores and even they dumped it in favor of FICO 9 maybe a year ago?

Anyway, same thing as any other score: pretty file = pretty score, optimize your file and don't sweat it.

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Actually HSBC does indeed use EQ Pinnacle aka FICO NextGen. It was on my prequal denial letter last year. 

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Good to know, thanks Saeren!