Rebucketing

[Anonymous]

I've been searching myfico for an explanation of "rebucketing" and can't seem to come up with anything. I've seen threads where it's used as an explanation but not one which defines it. Can someone help me out? Thanks!

[Anonymous]

Bucketing and/or scorecard is one of FICO's biggest secrets-

Very little public information is available about them-

There are currently 10 buckets/scorecard

2 negative and 8 positive ones.

They group together people with similar characteristic's in their credit profile - like Length of history, Public Records, collections, major derog present, looking for new credit,

In theory-   There is a cap on the number of posible points for each bucket-  so a young person with a 1 year old file can get a good score- but not 800.

So moving to a HIGHER bucket can be good long term as the cap on scores is higher-  even though there can be a short term hit as you are now being compared to people with a longer history and/or no derogs or public records on their profiles.

I hope this helps- HTSU also has a great explaination of this.    

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maestro_78 wrote:
I've been searching myfico for an explanation of "rebucketing" and can't seem to come up with anything. I've seen threads where it's used as an explanation but not one which defines it. Can someone help me out? Thanks!

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[GFer]

Timothy,

What is HTSU???

[Anonymous]

haulingthescoreup

Moderator

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GFer wrote:

Timothy,

What is HTSU???

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[RobertEG]

Maestro, what is commonly called "rebucketing" is nothing more than the fact that the FICO algorithm is not a single, vanilla formula.  Each CRA uses its own versions of FICO algorithms, and within each are 10 or more separate algoithms provided by FairIsaac to each CRA for their scoring,  "Buckets" are simply different risk algorithms provided by FairIsaac based upon your peer risk group.  Common bucket categories are those who have had serious derogs (90+ lates), BKs, collections, judgements, high %util, or those with thin or short credti histories. 

As has been stated, the FICO algorithms are closely held trade secrets of FairIsaac,and you will NEVER get them to disclose the criteria used for any of their algorithms, and certainly wont unwrap their mystery by any internet Googling.

Just know that they exist, and dont think that FICO scoring is always based on one consistent algorithm.

[marty56]

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RobertEG wrote:

As has been stated, the FICO algorithms are closely held trade secrets of FairIsaac,and you will NEVER get them to disclose the criteria used for any of their algorithms, and certainly wont unwrap their mystery by any internet Googling.

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Waterboarding might work.  I prefer the cat-tle prod though.

Makes you wonder what the bucketing system, if any is being done with TC;s scroing system or Vantage or even say FICO08. 

[haulingthescoreup]

OK, I dug these up. Long-winded as always, because I tend to think in terms of analogies, but maybe these will help:

Re; How many accounts should I let report a balance? - The post right above mine is fused's explanation. This was right before I got re-bucketed myself, and I was trying to figure how this worked. The post by fused is the classic explanation, so if I got anything wrong, it's all his fault!

Re: Buckets - the school promotion analogy. This was right after I was re-bucketed and dropped from 651 to 636, which was just awful at the time.

Re: Re-bucketed, again! - the soccer analogy (this one is WAY too long, but if you played sports, or your kids do, it might help, and I did try to explain the theory of it first)

Hope these don't make the bucket issue even more confusing than it already is.

[RobertEG]

My bucket got a hole in it!

[Anonymous]

can you give me a quick blurb on how you KNOW you are rebucketed? thanks, Dave.

[Anonymous]

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pilotguy72 wrote:
can you give me a quick blurb on how you KNOW you are rebucketed? thanks, Dave.

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One never actually KNOWS.  One can only infer.