If you could get your FICO08 score now

[marty56]

If Fair Isaac would make your FICO08 score available to you right now, would you pay say $5.95 for it.  EX does this with their Vantage score.

That is assuming the new scoring algorithm is stable.  Before you say that is it a FAKO since it is not being used, It could help someone in making a choice about what to do with their credit now.

For example, if you knew that your score would go down say 50 points since AU is not calculated anymore, what if anything would you do about it now.  Same goes for util and and those like me who have a single major derog on their reports.

Also what, if anything would be the effect of Fair Isaac being able to say that 450,000 people had ordered this score with the CCCs.  Also what would say AE do if they knew that a peson's FICO08 score would go  from say 750 to 690 becuase of AU under FICO08.  Do you think the CSR doing a MR for the application would be smart enough to understand what happend.  Would they even care? 

[haulingthescoreup]

Shoot, I'd pay $9.95 each just to see what it would be!

There's nothing I would do differently, because there's nothing that I can do differently. If the AU advantage goes away, so be it. I suppose if scores were completely devastated I'd go ahead and go joint instead, but I'd really rather not.

I'm guessing there would be a period of immediate turmoil where the norms re-set, and as you said, CSR's and internal scoring programs would have to go for major tweaking. I'll all about waiting for the dust to settle and then poking my head out. I never wanted to be the Private Kowalski character in the WWII movies who was first one out of the trench and promptly blown away.

[MidnightVoice]

I would pay for fun, but I have doing that which needs doing for about a year now, so there is nothing else I can or could do!

[Anonymous]

---

MidnightVoice wrote:

I would pay for fun, but I have doing that which needs doing for about a year now, so there is nothing else I can or could do!

---

Ditto!!  But I'd still like to see it.

[Anonymous]

I'd pay $4. I'm expecting a lower score for my profile personally.

[marty56]

I'm am also in a waiting game 3.5 years.  small chance my TU/EX scoure could go over 800 before then but we will see.

[haulingthescoreup]

Maybe they should charge $1/100 FICO points. So a 690 score would cost you $6.90. MV and pizza can just pay through the nose! (noses?)

Areas where FICO 08 might/will hurt me:

losing the history on the AU card. I thought of dumping it anyway, and then I ran it through the score estimator and scared myself.

increased emphasis on history over last two years. I'm down to one late within 24 months, from March 2007, so I might be semi-OK on this.

problems on multiple accounts. This scares me, as I have had lates on 3 or 4 accounts, depending on the report, but again, only one within 2 years.

But still, barring a time machine, or the miraculous success of GW's that have so far been rejected, there's nothing I can do, so < shrug >.

[marty56]

On the 2 year late issue, does this mean that someone with lates older than 2 years will fare better or that lates over the last 2 years will hurt more

[haulingthescoreup]

---

@marty56 wrote:

On the 2 year late issue, does this mean that someone with lates older than 2 years will fare better or that lates over the last 2 years will hurt more

---

More recent baddies (those within the last two years) will hurt more, and older ones less. As it should be, IMO. They're actually factoring in a bit more forgiveness!

[RobertEG]

Nope.  I would not pay a penny for it. 

Raising FICO score is about doing the things suggested in this forum.  Actions are the important thing to me, and not how it may be scored in a way that no creditor is using to evaluate me.

We already have numerous FICO scores.  Each CRA has its own separate, licensed version of the basic FICO algorithm.  Multiple old FICO versions still linger. Then we have enhanced and auto FICOs.  A half dozen or so current, actual FICO permutations.  Then we have the non-FICO scores (derisively called "FAKOs").

And we do not know the details of any of them, nor do we know the details of FICO 08 changes, other than some broad-brush pronoucements, such as AUs will no longer be given credit for their piggyback parent scoring.

Until a lendor tells me they are using FICO 08, and none apparently are, what good is it to me other than compounding confusion?

If you want to buy it, then ask yourself, what good is it? 

Message Edited by RobertEG on 07-18-2008 10:28 PM