cancel
Showing results for 
Search instead for 
Did you mean: 

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

Highlighted
Moderator

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

Thank you for putting in time and effort. 

 

I'm quite amazed at treasure trove of DPs we got from @CassieCard  in regard to new credit profiles being "born", growing, maturing. 

Its something we typically dont see, because who else gets involved in scoring before their first account reported (Which is why I adopted her, but she doesnt know that yet. Sorry you found out this way, Cassie). 

Message 11 of 233
Highlighted
Super Contributor

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

@Revelate Thanks for chiming in brother. Yes, actually I have a table of contents/index, I just haven't posted it yet. It will be a little easier to see the format and flow then.


Point well taken about the table I will move it up. I don't envy you on that ISO thing, gotta dot all your i's and cross all your t's!

 

I'll go back and try to define the acronyms and mention the acronym post Cassie graciously found and posted for the community. 

I'll have to look at the helpful threads post, but that's why I reserved the placeholder posts, so I could expand it because we're going to add information already, I know. 

The format was to go one by one through the five ingredients and examine each of the associated metrics for each sequentially. So the metrics and the derogatories both gotta be explained in their respective sections unless I restructure the entire thing, but a separate remediation section afterwards is be a great idea. Any help would be appreciated. 😉

 

Yes I explained and qualified it as clean segmentation, but I did not yet speak of dirty segmentation. I had thought about that and wanted to add another sentence or two to explain that, actually. Good minds think alike! From the literature, I see severity and recency. Any additional information on that would be great!

Yes I did mention a 30 day late remains in a clean card. But are you saying I'm incorrect that a certain number of 30 day lates will not banish you to a dirty card? Is my statement incorrect? If so please advise, so I can remove it. 

Thank you very much for your time in reviewing this and offering your comments and insight. The community is grateful.

 

And I look forward to any constructive criticism from any member. If anyone sees any inaccuracies please let me know.

 

 

 

For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.


RIP:

Oldest/average age varies by bureau. Estimates above.


Updated Oct 2020, unless otherwise noted.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

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?
For example, mine is clean/thick/mature/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 12 of 233
Highlighted
Super Contributor

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

@Remedios Thank you for the comment and it's my pleasure to help the community. I've learned so much from everyone here and am grateful to all those members who've contributed to my knowledge, so it's only appropriate that I give back to the community.

 

Yes I'm hoping I can get Cassie to write a little something for those new to credit, a little advice section for that. She's already been so incredibly helpful, I wouldn't have been able to do this without her. 😊

 

See were all becoming family here. 😉

For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.


RIP:

Oldest/average age varies by bureau. Estimates above.


Updated Oct 2020, unless otherwise noted.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

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?
For example, mine is clean/thick/mature/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 13 of 233
Highlighted
Established Contributor

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

Excellent thread, should be made a sticky.


Starting Fico Scores:November 2019

Current Fico Scores: September 2, 2020
Goal Scores: 700 across all three
Message 14 of 233
Highlighted
Valued Contributor

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


@Remedios wrote:

Thank you for putting in time and effort. 

 

I'm quite amazed at treasure trove of DPs we got from @CassieCard  in regard to new credit profiles being "born", growing, maturing. 

Its something we typically dont see, because who else gets involved in scoring before their first account reported (Which is why I adopted her, but she doesnt know that yet. Sorry you found out this way, Cassie). 


Is wonderful news! I now have opportunity to showcase new ability to improperly use 'a' and 'the'!

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 15 of 233
Highlighted
Super Contributor

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

Lol you're mad man!

 

Awesome work compiling all of that. I would have gotten a lot of 😴 time in if I had to type all of that! 🤯 




Message 16 of 233
Highlighted
Super Contributor

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

@SaerenYou already know me too well. That’s what took so long was the lack of sleep! You and Cassie both knew it! LOL! And I couldn't of done it without Cassie, she offered a lot of assistance and I'm grateful.

Hope you enjoy and if you’ve got any input I’m all ears.

For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.


RIP:

Oldest/average age varies by bureau. Estimates above.


Updated Oct 2020, unless otherwise noted.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

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?
For example, mine is clean/thick/mature/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 17 of 233
Highlighted
Super Contributor

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

Thank you for the kind words @BmoreBull !
For a collection of our current FICO scoring wisdom, updated as we learn, read the following. Watch the revision dates on the bottom of the first 8 posts as they are regularly updated: Link to Scoring Primer.


RIP:

Oldest/average age varies by bureau. Estimates above.


Updated Oct 2020, unless otherwise noted.

(Forgive typos, mobile.)(Everything said is Just IMHO.)

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?
For example, mine is clean/thick/mature/new account, with open loan on record.
If you don't know where you fall, just detail any baddies, your number of open and closed accounts, AoOA, AOYRA and whether you have a loan on record to start.

For utilization questions, list individual and aggregate utilizations, revolving and installment, please.
Message 18 of 233
Highlighted
Established Contributor

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


@Birdman7 wrote:
Thank you for the kind words @BmoreBull !
No, thank you for the hard work and time that you and everyone involved, put into this. My only wish is that I had all of this info years ago.


Starting Fico Scores:November 2019

Current Fico Scores: September 2, 2020
Goal Scores: 700 across all three
Message 19 of 233
Highlighted
Super Contributor

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

2. AAoA - Average Age of Accounts is a scoring factor

 

- Thresholds are typically found at year points, but not all.
- 3-10 points annual increase
- Maximum AAoA for scoring is believed to occur at 7Y 8M

 

@Birdman7  IIRC There is a AAoA threshold at 2 years (24 months). Can you include that?

Message 20 of 233
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.