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Question on FICO Scoring Buckets

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cj1132
Established Member

Question on FICO Scoring Buckets

If I'm understanding correctly, Fico 8 doesn't count medical collections under $100 but the mortgage and some other scores do.  Does this mean that I could be in one bucket for Fico 8 and another bucket for mortgage scores and the older credit card and auto scores?  I guess what I'm asking is if a person can be in different buckets depending on the score model rather than the bucketing being based on the profile as a whole.  I hope that makes sense.

Message 1 of 16
15 REPLIES 15
manyquestions
Established Contributor

Re: Question on FICO Scoring Buckets

Yes, score models are independent.

Message 2 of 16
CH-7-Mission-Accomplished
Valued Contributor

Re: Question on FICO Scoring Buckets

The number and categories of buckets are different with each score model.   To the extent much is known about them at all, you likely are in different ones with each score model.

Message 3 of 16
Anonymous
Not applicable

Re: Question on FICO Scoring Buckets

Yes.  You are right.  Each model has its own way of grouping people into scorecards.  Even if the number of scorecards was identical in each model (not true, some models I am told have a few more scorecards than others) they might well have slightly different criteria for membership in the scorecard.

 

As far as FICO 8 and medical collections under $100, my understanding is that FICO 8 ignores all paid collections under $100 (whether medical or not).  And also that FICO 8 does not distinguish medical from non-medical debt in its model (but FICO 9 does).

Message 4 of 16
DIYcredit
Frequent Contributor

Re: Question on FICO Scoring Buckets

I recently posted about SCORECARDS/BUCKETS not  so much to do Auto,Mortgages etc... but in general for Fico 8.

 Thomas-Thumb  posted up a amazing Table for Fico 8.

 Here's the link...

 

      http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/SCORECARDS/m-p/4359411

Message 5 of 16
Thomas_Thumb
Senior Contributor

Re: Question on FICO Scoring Buckets


@Anonymous wrote:

Yes.  You are right.  Each model has its own way of grouping people into scorecards.  Even if the number of scorecards was identical in each model (not true, some models I am told have a few more scorecards than others) they might well have slightly different criteria for membership in the scorecard.

 

As far as FICO 8 and medical collections under $100, my understanding is that FICO 8 ignores all paid collections under $100 (whether medical or not).  And also that FICO 8 does not distinguish medical from non-medical debt in its model (but FICO 9 does).


FYI - From TransUnion https://www.transunion.com/docs/financialServices/FS_ScoresOverview.pdf

 

1) Fico 9 Classic has 13 scorecards (interestingly, so does VantageScore 3.0. The older VS models 2.0 & 1.0 have 15 scorecards)

2) Fico 8 Classic has 12 scorecards (as do the industry option versions)

3) Fico 4 Classic has 10 scorecards (industry option versions have 12)

4)) Fico 98 Classic has 10 scorecards (industry option versions have 12)

 

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 6 of 16
SouthJamaica
Mega Contributor

Re: Question on FICO Scoring Buckets


@Thomas_Thumb wrote:

@Anonymous wrote:

Yes.  You are right.  Each model has its own way of grouping people into scorecards.  Even if the number of scorecards was identical in each model (not true, some models I am told have a few more scorecards than others) they might well have slightly different criteria for membership in the scorecard.

 

As far as FICO 8 and medical collections under $100, my understanding is that FICO 8 ignores all paid collections under $100 (whether medical or not).  And also that FICO 8 does not distinguish medical from non-medical debt in its model (but FICO 9 does).


FYI - From TransUnion https://www.transunion.com/docs/financialServices/FS_ScoresOverview.pdf

 

1) Fico 9 Classic has 13 scorecards (interestingly, so does VantageScore 3.0. The older VS models 2.0 & 1.0 have 15 scorecards)

2) Fico 8 Classic has 12 scorecards (as do the industry option versions)

3) Fico 4 Classic has 10 scorecards (industry option versions have 12)

4)) Fico 98 Classic has 10 scorecards (industry option versions have 12)

 


What usually happens when one is moved up from a lower scorecard?


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 7 of 16
Thomas_Thumb
Senior Contributor

Re: Question on FICO Scoring Buckets

Changing scorecards may or may not create a trigger event. Regardless, once a trigger event happens, your score will be computed based on factor weighting associated with the scorecard your profile is now associated with. Generally, scores go up if you go from dirty to clean due to the large affect of the negative(s) dropping off.

 

However, going from one clean scorecard to another clean scorecard could shift score either up or down.

 

For example, aggregate utilization may get more weight relative to individual card utilization on a different scorecard. If your AG UT was 3% to 5%, perhaps your score would go up. If it was 15% to 20%, perhaps your score would go down instead.

 

Unfortunately, associated scorecards are not identified as part of a score summary report.

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 8 of 16
Anonymous
Not applicable

Re: Question on FICO Scoring Buckets

+1 to everything TT just said.  He closes by saying:

 

"Unfortunately, associated scorecards are not identified as part of a score summary report."

 

That is unfortunate!  And not only are we not able to know which scorecard a particular person is in at a point in time (for a particular model) we don't even know for sure what those scorecards are and how they are determined.  People have some guesses (and TT's seem better than most) but even he'll tell you that he can't tell you for sure what the 8 clean scorecards are in FICO 8 (what factors go into determining them and what the breakpoints are for each factor).

 

The folks on the forum have made a lot of progress in figuring out how the various models work.  E.g. CC balances, etc.  But we really don't know what the scorecards are, and I wish we did.

 

Message 9 of 16
SouthJamaica
Mega Contributor

Re: Question on FICO Scoring Buckets


@Thomas_Thumb wrote:

Changing scorecards may or may not create a trigger event. Regardless, once a trigger event happens, your score will be computed based on factor weighting associated with the scorecard your profile is now associated with. Generally, scores go up if you go from dirty to clean due to the large affect of the negative(s) dropping off.

 

However, going from one clean scorecard to another clean scorecard could shift score either up or down.

 

For example, aggregate utilization may get more weight relative to individual card utilization on a different scorecard. If your AG UT was 3% to 5%, perhaps your score would go up. If it was 15% to 20%, perhaps your score would go down instead.

 

Unfortunately, associated scorecards are not identified as part of a score summary report.


Thanks for the info Thomas.

 

2 of my scores which have been basically flatlined for 10 months just shot up to new highs, 25 and 33 points up. Does that sound to you like I just got moved up a bucket?

 

160111EQ.png

160111TU.png


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 10 of 16
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