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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.7.25.20


@Kforce wrote:

@Birdman7, @CassieCard , @SouthJamaica 

Impressive Work

You must have too much time your hands.   Smiley LOL


@Kforce Thank you for the kind words! I created it, with @CassieCard assisting me with graphics, attribution, and all kinds of stuff and also, most importantly, it was created from all the wonderful knowledge and DPs from the Community. (and some of my own testing.)

 

@SouthJamaica and many other members are cited and contributed to the knowledge base by creating and responding to threads. We are grateful for him and all members, cited and uncited, that have contributed to the Community's knowledge base.

 

There are a lot of concepts that I don't have citations for, unfortunately. If a member is responsible for discovering it, I'll be glad to add attribution, if they will notify me and give me the thread. 

Our FICO scoring wisdom, regularly updated: Link to Scoring Primer.

Negative Reason Codes/Scoring Factors by CassieCard: Link to Reason Code Chart.

ccquest’s awesome workbook to calculate metrics for you: Link to Workbook.


Oct 2020. Oldest/average varies. (Estimates above.)
Real world maximums for the mortgage scores are:
EQ5-818, TU4-839, EX2-844.



RIP: (Forgive typos, mobile. Everything said is JMHO.)
In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (Mature/young), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR? AoYA? Etc...
Message 91 of 264
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Valued Contributor

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

@Birdman7: This might be the one.

 

scorecard_flowchart.png

 

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

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

Message 92 of 264
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Valued Contributor

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


@Birdman7 wrote:
 

Notes:

 

A very special thanks to @CassieCard for assisting with technical issues, research, attribution, adding great links and information, the presentation of this thread, encouragement and much more. Would not have been anywhere near as nice, comprehensive, and robust without her help. Thank you! And thank you for your continued help in keeping this updated and a wonderful resource for all members. 


And a very special thanks to @Birdman7 for making me use more of my Adobe Creative Cloud full subscription. I was getting rusty with the keyboard shortcuts in Illustrator.

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

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

Message 93 of 264
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Frequent Contributor

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

@CassieCard  That flowchart is incredibly helpful to visualize the scorecards. Thanks for doing that.

 

It seems that the #1 would be the "highest" segmentation in each, for instance the top Clean card would be Thick/Aged/No New Account and the top Dirty scorecard would be No PR/Mature Deliq.

 

Message 94 of 264
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Valued Contributor

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


@TheKid2 wrote:

@CassieCard  That flowchart is incredibly helpful to visualize the scorecards. Thanks for doing that.

 

It seems that the #1 would be the "highest" segmentation in each, for instance the top Clean card would be Thick/Aged/No New Account and the top Dirty scorecard would be No PR/Mature Deliq.

 


You're welcome! @Birdman7 really made it happen, by researching what FICO has published about scorecards.

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

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

Message 95 of 264
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Super Contributor

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

I could’ve never in my dreams have created that flow chart without @CassieCard . I simply gave the data and direction, she is responsible for making it happen, and Cassie I told you how helpful it would be! And if one person says that, who knows how many people are thinking it!
Our FICO scoring wisdom, regularly updated: Link to Scoring Primer.

Negative Reason Codes/Scoring Factors by CassieCard: Link to Reason Code Chart.

ccquest’s awesome workbook to calculate metrics for you: Link to Workbook.


Oct 2020. Oldest/average varies. (Estimates above.)
Real world maximums for the mortgage scores are:
EQ5-818, TU4-839, EX2-844.



RIP: (Forgive typos, mobile. Everything said is JMHO.)
In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (Mature/young), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR? AoYA? Etc...
Message 96 of 264
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Super Contributor

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

And yes @TheKid2 you're correct about the numbering. 

As a matter of fact, the reason that I know the flow of the segmentation is also due to Cassie, due to a recording from Tom Quinn that she referred me to. Otherwise I would've had the order out of order, lol. 

Our FICO scoring wisdom, regularly updated: Link to Scoring Primer.

Negative Reason Codes/Scoring Factors by CassieCard: Link to Reason Code Chart.

ccquest’s awesome workbook to calculate metrics for you: Link to Workbook.


Oct 2020. Oldest/average varies. (Estimates above.)
Real world maximums for the mortgage scores are:
EQ5-818, TU4-839, EX2-844.



RIP: (Forgive typos, mobile. Everything said is JMHO.)
In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? Severity and recency? (clean/dirty), Number of accounts, both open and closed on CRs (thick/thin), AoOA? (Mature/young), AOYRA-Age of Youngest Revolving Account (new accounts/no new accounts)? Open/closed loan on CR? AoYA? Etc...
Message 97 of 264
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Regular Contributor

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

Thanks @Birdman7  and @CassieCard

 

this thread is super informative. I really love the graphics and detailed explanations. 

In my case, I'm in a D1 with about 15 months left to go before they age off. Based on my reading here, it appears one can go from D1 to C1, right? Apologies if it's been brought up upthread somewhere but I'm still working my way through this primer and other threads.

 

Another area, I've thought to attack install utilization. They're all student loans at 90%+, but after reading this, it doesn't seem to make sense to try and bring down unless i get it to 69%. I've also read about other MF's who have high student loan and >800 scores so it's really a low priority unless, I need to for a mortgage. 

 

FICO 8
1/2020 EQ714 TU736 EX719
2/2020 EQ718 TU744 EX736
5/2020 EQ723 TU741 EX730
7/2020 EQ725 TU750 EX755
8/2020 EQ725 TU746 EX744
9/2020 EX718 EQ715 TU722
Cards:
NFCU Visa Sig Cash Rewards $28k cl
Amex Gold
Amex HH Aspire $40k cl
Synchrony Bank -Bowflex $7500 cl
BoA Visa Cash Rewards $24k cl
Message 98 of 264
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Valued Contributor

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


@kkboom wrote:

 

In my case, I'm in a D1 with about 15 months left to go before they age off. Based on my reading here, it appears one can go from D1 to C1, right?

@kkboom:  Yes, because your profile data will be re-evaluated without regard to any previous state.

 

15 months isn't that bad!  I also wonder if you might see some points come back as the months go by, since there are reason codes related to that on EQ/TU/EX 8.

 

Time since delinquency is too recent or unknown

13

13

13

Time track

Time since derogatory public record or collection is too short

20

20

20

Time track

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

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

Message 99 of 264
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Regular Contributor

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

15 months isn't bad at all! I just want to make sure I line my cards / inquiries up now to be prepared. I've tried to get cards i wouldn't mind keeping or are eligible for product change. 

i know the simulators aren't too accurate, but for some reason i keep seeing a 70 point increase in my TU at 6months. I have no idea why. One thought is one of my 90day student loan (reported on 8 accounts) should fall off in December 2020 so maybe their expecting an increase the month after. EQ and EX have a 5 point bump. I'm definitely interested in seeing how that pans out. I'll probably apply for a card before then so the projection results may be skewed.  

FICO 8
1/2020 EQ714 TU736 EX719
2/2020 EQ718 TU744 EX736
5/2020 EQ723 TU741 EX730
7/2020 EQ725 TU750 EX755
8/2020 EQ725 TU746 EX744
9/2020 EX718 EQ715 TU722
Cards:
NFCU Visa Sig Cash Rewards $28k cl
Amex Gold
Amex HH Aspire $40k cl
Synchrony Bank -Bowflex $7500 cl
BoA Visa Cash Rewards $24k cl
Message 100 of 264
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