FICO score 3 very different from others

[disdreamin]

I have tried searching the forums with no success, so I thought I'd ask how FICO score 3 differs from other scoring models, and why that particular score might vary quite widely from other scores within the credit card versions available here. My FICO 3 EX score is much lower than, for example, my FICO 9 EX score (or FICO 8, FICO 10, or any of the mortgage scores for tha matter) and I am curious why this might be. If there is a thread I missed, if a mod could merge this into that thread or link it here and close this one I would appreciate it.

[MrFiah]

It looks to be more sensitive to new accounts and weigh negative info more heavily.  You aren't alone. 

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/EX-FICO-3/m-p/6070363

[SouthJamaica]

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@disdreamin wrote:

I have tried searching the forums with no success, so I thought I'd ask how FICO score 3 differs from other scoring models, and why that particular score might vary quite widely from other scores within the credit card versions available here. My FICO 3 EX score is much lower than, for example, my FICO 9 EX score (or FICO 8, FICO 10, or any of the mortgage scores for tha matter) and I am curious why this might be. If there is a thread I missed, if a mod could merge this into that thread or link it here and close this one I would appreciate it.

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My EX FICO 3 is usually very close to my EX FICO 2.

[Thomas_Thumb]

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@disdreamin wrote:

I have tried searching the forums with no success, so I thought I'd ask how FICO score 3 differs from other scoring models, and why that particular score might vary quite widely from other scores within the credit card versions available here. My FICO 3 EX score is much lower than, for example, my FICO 9 EX score (or FICO 8, FICO 10, or any of the mortgage scores for tha matter) and I am curious why this might be. If there is a thread I missed, if a mod could merge this into that thread or link it here and close this one I would appreciate it.

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As an FYI - EX Fico score 3, TU Fico score 4 and EQ Fico score 5 are all based on the Fico 04 model. EX Fico score 2 is based on the even older Fico 98 model. Fico would then "tweak" the respective base model to customize for each CRA. Published information indicates EX Fico score 3 has a real world max score of 850, EX Fico score 2 has a real world max of 844, TU Fico score 4 has a real world max of 839 and EQ Fico score 5 has a real world max of 818.

A good way to compare differences among models of the same generation is to compare reason codes/statements between the CRAs. Tables of reason codes have been pasted in various MyFico posts in previous years as have links to reason code tables. Unfortunately, links often become broken over time.

The industry option Fico scores follow the behavior of their Classic version counterparts. They then apply an overlay that adds or subtracts points.

There have been many - many threads discussing differences between Fico 8, Fico 9 and the older Fico 04 and Fico 98 models. Fico 98 and Fico 04 have 10 scorecards - 8 clean and 2 dirty, Fico 8 has 12 scorecards - 8 clean and 4 dirty, Fico 9 has 13 scorecards - 8 clean, 4 dirty and a high revolving utilization differentiator.

If someone has time, they can search and add links of prior threads to this one. However, do not merge other threads with this one. Merging practices tend to destroy historical perspective and muddy textural analysis.

[disdreamin]

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@Thomas_Thumb wrote:

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As an FYI - EX Fico score 3, TU Fico score 4 and EQ Fico score 5 are all based on the Fico 04 model. EX Fico score 2 is based on the even older Fico 98 model. Fico would then "tweak" the respective base model to customize for each CRA. Published information indicates EX Fico score 3 has a real world max score of 850, EX Fico score 2 has a real world max of 844, TU Fico score 4 has a real world max of 839 and EQ Fico score 5 has a real world max of 818.

<snip>

There have been many - many threads discussing differences between Fico 8, Fico 9 and the older Fico 04 and Fico 98 models. Fico 98 and Fico 04 have 10 scorecards - 8 clean and 2 dirty, Fico 8 has 12 scorecards - 8 clean and 4 dirty, Fico 9 has 13 scorecards - 8 clean, 4 dirty and a high revolving utilization differentiator.

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Interesting, a search turned up nothing specfic to FICO 3, although I forgot to try flat-out Googling it which I should have done. Thank you for all that info. Now I need to go and read up on the various scorecards mentioned.

"EQ Fico score 5 has a real world max of 818" - that statement was very surprising as I believe mine is currently at 815, if that is the EQ score under mortgages. My others are much lower relative to the max scores you mentioned, so perhaps I am not looking at the correct score.

[disdreamin]

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@MrFiah wrote:

It looks to be more sensitive to new accounts and weigh negative info more heavily.  You aren't alone. 

https://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/EX-FICO-3/m-p/6070363

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Thank you for that thread/link, for some reason my searches didn't successfully find that. It's reassuring to know I am not alone in having that score be vastly different than others. My negative reasons included accounts with balances (AZEO doesn't exist in this household, too many spenders), new account , seeking credit (two in the past year, one less than 6mo), and high revolving balances (highest was 5% on a co-signed card with $1k CL, all other reported balances were less).

[Zoostation1]

I'm on a thin, young, dirty profile and my EX3 (695) is higher than all of my EX scores (not counting industry specific) except EX9 (701). 

[disdreamin]

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@Zoostation1 wrote:

I'm on a thin, young, dirty profile and my EX3 (695) is higher than all of my EX scores (not counting industry specific) except EX9 (701). 

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It's wild how vastly different the models treat different profiles. Mine is clean, aged, and relatively thick and EX3 is the lowest of any of my EX scores:

FICO 2 EX: 803

FICO 3 EX: 780

FICO 8 EX: 843

FICO 9 EX: 850

FICO 10 EX: 850

FICO 10T EX: 841

I'm not overly concerned, just intrigued and wishing I knew more. Now to find the motivation to actually learn, haha.

[Zoostation1]

Oh what I wouldn't give to have 800 or even 750 on any of my scores but that's a ways off.  My profile is weird because my BK7 was filed more than 5yrs after DOFD on any account and within a couple months of beginning my rebuild in Nov 21, I had no accounts on my CRs except my then secured discover.  Normally most people with a dirty profile like mine would have a longer history on it but none of my cards or loands from pre BK7 are on the report.  For further comparison my FICO 3 vs other EX scores versus what yours are

EX2: 690

EX3: 695

EX8: 671

EX9: 701

EX10: 683

EX10T: 690

[expatCanuck]

In the 'day late and a dollar short' column, let me offer my current FICO 3 score and the underlying factors.

(Some context: my current EX FICO 8 is 806, mostly 'cause I currently have 8 INQ's, am carrying three 0% BTs and am 5/24 | 2/12.  Four of those INQ's will fall before year end, as will 1 or 2 of the BTs.)

Doubtless, my scores will dip when the new HELoan reports. 😉