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General Scoring Primer and Version 8 Master Thread, pub.5.17.20

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Super Contributor

Re: General Scoring Primer and Version 8 Master Thread, rev.5.17.20

@K-inBoston When you saw the weird change with $83 on the $27,000 credit line, was it one of these undesignated? Because the reason the penalty may be showing up or not when not expected or vice versa may be because of this owner issue? Maybe the algorithm is classifying it incorrectly because of this. Just want to rule that out.

The joint doesn’t really need a designated responsibility because everyone is responsible, so it could fall under the same default set as the primary accounts. So depending on how the backend is coded that may be why it’s not having an effect on those. Maybe it’s being seen as a primary. But an authorized user account should have a designated owner to show responsibility. Granted I’m reaching there, but it’s possible?

Sorry I had food poisoning last night. I ended up crashing, or at least trying to. Almost got it out of my system.
-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Oct 2020 New Account Scorecard.Nov 2020, No New Account Scorecard (reassignment conflated with aging. EX9 not updated yet. Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.


RIP:
(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 71 of 275
Moderator

Re: General Scoring Primer and Version 8 Master Thread, rev.5.17.20

No clue if this DP is useful or not, but when my loan reported few days ago (only two payments), all three went up by 3 points.

The reason I'm mentioning this is, original balance $5000.00

Last report shows $4803.00, so only 3% down. 

Nothing else reported or changed in a week prior to loan reporting. 

Message 72 of 275
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Super Contributor

Re: General Scoring Primer and Version 8 Master Thread, rev.5.17.20

@Remedios You got me scratching my head there, can’t be credit mix because you’ve got a ton of loans on your CR.

What’s the open date for the loan on the CR?
-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Oct 2020 New Account Scorecard.Nov 2020, No New Account Scorecard (reassignment conflated with aging. EX9 not updated yet. Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.


RIP:
(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 73 of 275
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Moderator

Re: General Scoring Primer and Version 8 Master Thread, rev.5.17.20

March 2020.  

First payment reported on 04/5, second payment reported on 05/05, third on 06/05 

I have paid EX monitoring, so no shenanigans with timing of alerts, but also MF Advanced. 

Because I'm insomniac, I saw it on EX at 330 am 😂

Last card reported on 05/20, and nothing else to report until the 8th 

No scoring changes on the 1st of the month. 

 

 

Message 74 of 275
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Valued Contributor

Re: General Scoring Primer and Version 8 Master Thread, rev.5.17.20


@Remedios wrote:

No clue if this DP is useful or not, but when my loan reported few days ago (only two payments), all three went up by 3 points.

The reason I'm mentioning this is, original balance $5000.00

Last report shows $4803.00, so only 3% down. 

Nothing else reported or changed in a week prior to loan reporting. 


This could be related to one of the following:

No recent non-mortgage balance information - Code 17 on all 3. Revolving is tracked separately on code 24 (No recent revolving balances)

Lack of recent installment loan information - Codes 32, 4 across all 3

 

You're now satisfying both of those.

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

Keeper of the Scrolls of ResilienceEQ FICO Resilience Index Score Leaderboard

48 forum members have shared this new credit score. Share yours today!

Message 75 of 275
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Super Contributor

Re: General Scoring Primer and Version 8 Master Thread, rev.5.17.20

@Remedios Thank you very much for the data points. I’ve typically seen a small gain at 3 months of age of a loan being open, that’s why asked the question and I believe that’s what it is.

I theorize it comes from the payment history category, being open 3 months without negative payment history, but I can’t guarantee that’s where it comes from. I recently made a couple payments at once and received an award at 12 months as well.

Not sure about the 12 month award, could be a small threshold for lowering the B/L, but I don’t think so. But, pretty sure I did not see it on the last one but I need to go back and check my records. Been under the weather the past week, so I’m only on light duty LOL. 😉

As a matter fact, I think I updated the primer a couple days ago regarding the 3 month award (kind of like the 3 months on a revolver) because I recalled it when I noticed the points at 12 months.
-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Oct 2020 New Account Scorecard.Nov 2020, No New Account Scorecard (reassignment conflated with aging. EX9 not updated yet. Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.


RIP:
(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 76 of 275
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Super Contributor

Re: General Scoring Primer and Version 8 Master Thread rev.5.17.20

@CassieCardcan you tell us where on the FICO site they have the reason codes?

Thanks


Total revolving limits 653000 (575000 reporting)

Message 77 of 275
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Valued Contributor

Re: General Scoring Primer and Version 8 Master Thread rev.5.17.20


@SouthJamaica wrote:

@CassieCardcan you tell us where on the FICO site they have the reason codes?

Thanks


At the bottom of the table in Post #10, I posted a link to the PDF document. And now it returns a 404 Page not Found error.

 

For some reason, the link to this PDF changes a lot over time. It's only been a few weeks since I looked at it!

 

The file name is: FICO_Risk_Score_Reason_Codes_1424PS.pdf and includes the text 1424PS 07/13 PDF at the bottom of the document. I couldn't find it again via Google.

 

It had codes for all 3 CRAs in it too - classic, auto, and mortgage. Maybe it will show up again in Google, because I couldn't find it there or here: https://www.fico.com/en/latest-thinking (Resources)

 

I didn't look too hard though - no time now.

27 FICO Scores + 3 VS3. MTG (Mortgage), AUT (Auto), and BKC (Bankcard) are scores 5,4, and 2 from the top.

Keeper of the Scrolls of ResilienceEQ FICO Resilience Index Score Leaderboard

48 forum members have shared this new credit score. Share yours today!

Message 78 of 275
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Super Contributor

Re: General Scoring Primer and Version 8 Master Thread rev.5.17.20

@SouthJamaica I got this link from one of TT's posts. I haven't really examined it and I don't know what all versions it covers, but check it out, it still has a table of reason codes. I'm hoping it covers more than one version, but I haven't had time to look at it yet. LMK.

 

https://crecreditservices.com/resources/education/fico-score-factor-codes/

-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Oct 2020 New Account Scorecard.Nov 2020, No New Account Scorecard (reassignment conflated with aging. EX9 not updated yet. Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.


RIP:
(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 79 of 275
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Super Contributor

Re: General Scoring Primer and Version 8 Master Thread rev.5.17.20


@Birdman7 wrote:

@SouthJamaica I got this link from one of TT's posts. I haven't really examined it and I don't know what all versions it covers, but check it out, it still has a table of reason codes. I'm hoping it covers more than one version, but I haven't had time to look at it yet. LMK.

 

https://crecreditservices.com/resources/education/fico-score-factor-codes/


Thanks. Yes it purports to be a list of reason codes for the mortgage scores.


Total revolving limits 653000 (575000 reporting)

Message 80 of 275
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