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FICO Scoring Buckets (or "Scorecards")

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Established Contributor

FICO Scoring Buckets (or "Scorecards")

FICO Scoring Buckets (scorecards):
 
From my review of this and other forums and other sources, I have this list of the 10 current FICO scoring buckets...let me know how accurate it looks:
 
Scorecard:
 
#1 - For those with a bankruptcy on their credit report
#2 - For those with serious delinquencies other than bk's (60+? or 90+ lates, collections, judgments, repossessions, etc.).
#3 - Those with only 1 credit accouint (very thin files)
#4 - Those with ony 2 credit accounts (thin files)
#5 - Those with only 3 credit accounts.
Scorecards 6-10 must NOT have ANY serious delinquencies (not sure if that means 60+ or 90+ lates):
#6 - 0-2 years oldest TL
#7 - 2-5 years oldest TL
#8 - 5-12 years oldest TL
#9 - 12-19 years oldest TL
#10 - 19+ years oldest TL
 
I have heard that FICO 08 is going to 12 buckets, but for now, we have these 10.   I'd like to hear from all mods and super contributors on its accuracy so we can get this right for all members.
 
Thanks.
 
 


Message Edited by Boscoe on 08-23-2008 10:47 AM
Message 1 of 51
50 REPLIES 50
Moderator Emeritus

Re: FICO Scoring Buckets (or "Scorecards")

Public records are all on 1 score card (BK's and public records)
 
There is one for "recently applying for credit"
 
Only 2 of the current scorecards are "negative" 08 will have 4
 
 
Message 2 of 51
Moderator Emerita

Re: FICO Scoring Buckets (or "Scorecards")

I'm still trying to figure out which buckets trump others. I know that I'm in an age-driven score bucket (I can tell from Scorewatch alerts and from how my positives and negatives change when I hit a major age change), but I also have a 90-day.

So it appears to me that at least in my case, the age, both long overall and short average, drive my bucket assignment, rather than the serious derog.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 3 of 51
Valued Contributor

Re: FICO Scoring Buckets (or "Scorecards")

I have come to believe that age related buckets are not totally dependent on oldest account, but rather they also look at average age or the age of revolving credit.
 
For example, if you have a 12 year history but only a 1.5 year average age (something extreme like that) you are likely not in what we would consider on this board to be the "12-19" year bucket.
 
It may be
 
Age Tier 1-6
 
and though you would normally be in age tier 4 with 12 years of history, if you have little history on all but 1 card you may be in tier 3 or lower.
 
I have no proof of that, except to think that my TU score has one year lower average age and it is 16 points behind EX (with same utilities, no baddies, and only one account reporting 1 percent util) I doubt one year of average age would account for that difference. I suspect TU and EQ/EX are in different buckets.
Message 4 of 51
Senior Contributor

Re: FICO Scoring Buckets (or "Scorecards")

I agree, I think there are many buckets too. This is some heavy thinking. I have identified some changes for buckets but only gave then names like O,N,S, ect... Not sure what makes buckets change yet but know when I am in a different one and what to do differently for it to keep scores up. Interesting. It would be cool to know where the buckets are.

What do you think about: (no neg buckets)
(I am only guessing)
6 months and 23 months
2 to 4+ years
5 to 9+ years
10 to 14+ years
15 to 19+ years
20+ years

But then I started thinking maybe avg age was a bucket factor that eliminated some of the middle ones.

There is a bucket change that I found between 12-13 oldest years or 5-6 years in avg age. The CR I looked at had both happen at the same time, didn't know which one changed the bucket. Didn't see any other changes.

Message Edited by ilovepizza on 08-23-2008 03:12 PM
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Message 5 of 51
Valued Contributor

Re: FICO Scoring Buckets (or "Scorecards")

pizza,
 
I believe that we think there is a 12 year bucket because most people with 12 years of total history have the requisite average history to move into a "higher bucket." That said, I think you are onto something with the average age hitting 5-6 years being a necessity for some of these moves.
Message 6 of 51
Contributor

Re: FICO Scoring Buckets (or "Scorecards")

I definitely believe that ave age is factored into scorecards and think that 6 years is a transition point.
Recent Ficos 815+
I do not do business with crooked companies.
crap1, United Airlines, Home Depot, Volvo will never make a dime from me.
Message 7 of 51
Moderator Emerita

Re: FICO Scoring Buckets (or "Scorecards")


@debtisgood wrote:
I have come to believe that age related buckets are not totally dependent on oldest account, but rather they also look at average age or the age of revolving credit.
For example, if you have a 12 year history but only a 1.5 year average age (something extreme like that) you are likely not in what we would consider on this board to be the "12-19" year bucket.



I'm certain you're right! I am the proud owner of a 19 year longest / 3 year 6 month average history, and things changed drastically when I first re-aged back in February. But then they changed again in June (I think it was) when I went from 18 years to 19. So maybe it was driven by longest age up till February, and then it flipped to either 3.5 AAoA or serious derog, and then went back to longest when Discover hit 19 in June. Nevertheless, I received a re-bucket message when I first added the Discover last October, so I know that at that point, it was age- rather than derog-driven.

If nothing else, it's entertaining.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 8 of 51
Super Contributor

Re: FICO Scoring Buckets (or "Scorecards")



haulingthescoreup wrote:
If nothing else, it's entertaining.

I cant wait for celebrity FICO death match.
 
In this corner Marty with a EX 760, Oh no, HTSU hits Marty with a PFD droping his score 90 points.  Marty fights back with  7 new credit apps and a 120 day late, HTSU fight back with .... 


Message Edited by marty56 on 08-24-2008 04:15 AM
04/24/2019: FICO 849 EQ 845 TU 848 EX
Message 9 of 51
Moderator Emerita

Re: FICO Scoring Buckets (or "Scorecards")

No, no, I'm not a fighter. It would be more like Celebrity Go Fish:

marty: hauling, have you got any PFD's for BofA?
hauling: Go fish! marty, have you got an extra year for average age of accounts?
marty: Aarrrgghhh! *slams one year card down on table and stalks off*
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 10 of 51