SCORECARDS?

[Anonymous]

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@Thomas_Thumb wrote:

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@Anonymous wrote:

Thom, I just wanted to say this is a very enlighting concept for me, as I didn't realize all of the different scorecards.  I want to provide you with my information as a point of reference.  I believe according to your chart I would be in either scorecard 11 or 12, I am not exactly sure if you only need to meet 1 category as H.  Scores come from a myfico 3b report from May 2016.  If you want any of the other Fico score versions I can provide them. 

EQ fico 8 Score: 704

Derog: Forclosure (DOFD 10/2010)

Oldest Acct: Opened 9/2004

Youngest Acct: Opened 3/2016

Total Accounts: 6

TU fico 8 Score: 669

Derog: Forclosure (DOFD 10/2010)

Oldest Acct: Opened 6/2005

Youngest Acct: Opened 3/2016

Total Accounts: 5

TU EX fico 8 Score: 663

Derog: Forclosure (DOFD 10/2010)

Oldest Acct: Opened 6/2005

Youngest Acct: Opened 3/2016

Total Accounts: 5

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Thanks for the data. Given the age of your foreclosure, I would assign your EQ scorecard an "H" rating relative to the table. Age is over 3 years, you only mention one derog and you list more than 5 accounts. Really not sure why your EQ is 40 points higher than TU/EX, assuming the 3rd group above represents EX. The only difference is # accounts (5 compared to 6). What is the 6th account and do you have differences in # inquiries under 12 months age among the CRAs?

Looks like an adjustment to scorecard 11 ceiling might be in order.

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My EQ has 1 extra account on it compared to EX and TU.  That account is also older than the other accounts.  That is the only reason for the score difference as far as I am aware.  The only derog is the forclosure.    Inquires are 2/2/1 EQ/TU/EX.  Also all of the accounts are closed except 1 capital one credit card (the new one)

It is unfortunate but JCP only ever reported to EQ.  

Please ignore my signature, as all of those accounts except the Capital One CC were opened after I got the fico score above.  

[EW800]

Excellent thread!

Thomas, I recognize that there is much speculation here, however I am hoping that you can comment about which scorecard I might be in.  Based on my FICO 8 scores, I am thinking it might be 9, however I don't think my profile could be considered "MInor Dirt".

I have a foreclosure and a credit card settlement that are about four years old now.  I would assume that this automatically puts me in the "Major Dirt" Scorecard, however my FICO 8 scores have been in the 730-738 range for at least the last year.  Could it be possible that because of the age of these baddies, coupled with a very clean record since then (no lates and extremely low util), that my profile is now considered "Minor Dirt", or would I be "Major Dirt" until the baddies completely fall off?

Based on the data that we know, would it be safe to assume that under FICO 8, a score of 759 is probably the maximum that I can possibly see until these two baddies completely fall off?  

My AAoA is about 13 years, oldest is about 20.  I have about 22 accounts average, with about 50/50 split between open and closed.  My util has been about $5 out of about $150K for the past two years, so obviously extremely low.  One inquiry on each report.  

Any speculation which Scorecard I might be in?  

Thank you!  

(Just as a side note, my FICO 9 scores are all in the 780 to 790 range.  This model sure seems to be much more forgiving of my two major baddies, or is giving much more credit for my clean history over the past few years)

[Thomas_Thumb]

Given your score, file age and age of derog, I'd guess your profile would fall in SC9.

That's where Inverse must have been with his tax lien(s) and score in the 740 to 750 range. His file was clean otherwise with no lates. His AAoA was slightly over 8 years with oldest account something like 16 to 18 years. As soon as his liens were removed score jumped to 840 to 850.

[EW800]

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@Thomas_Thumb wrote:

Given your score, file age and age of derog, I'd guess your profile would fall in SC9.

That's where Inverse must have been with his tax lien(s) and score in the 740 to 750 range. His file was clean otherwise with no lates. His AAoA was slightly over 8 years with oldest account something like 16 to 18 years. As soon as his liens were removed score jumped to 840 to 850.

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Thank you, Thomas! 

[Thomas_Thumb]

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@RobertEG wrote:

Thomas, can you explain a bit on what the scorecard designations, such as H-H-L, mean when applied to actual files?

What does High and Low refer to?

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They are categorical identifiers like what you may see used in factorial DOE. In this case I have 3 factors [age of file, thickness of file as defined by # accounts (open + closed) and age of youngest account] and two levels (H & L) for each factor. Certainly thickness of file may include types of accounts in real world categorization. I have elected to use the KISS principal. The table is for illustrative purposes and value drops off rapidly with adding complexity.

As I recall, I list the 3 factors in the following order:

(File age) - (youngest account) - (File thickness (or count)) . So H-H-L would designate:

H = Oldest account (file age) of 10 years or more

H =  Youngest account over 1 year [I have vacillated between 2 years and 1 year for an H designation]

L =  File thickness =>Total accounts (open + closed) less than six (6)

I won't argue whether or not the values I assigned are "correct" . I'm sure they aren't and the segmentation is likely more complicated. Nonetheless, I believe it illustrates some important points as follows:

1) Scorecards exist and profiles are "assigned" to a specific scorecard.

2) Scorecards do have different score ranges and a profile's score is bounded by the upper and lower limits of its scorecard.

3) Dirty scorecards have ceilings that likely prevent ability to rech a top tier credit score (760 or above).

4) If you don't have sufficient account age, you can't reach a score of 850.

5) You can reach a score of 850 with a "thin" file. However, not stated is the generally accepted need for an open installment loan. Again, let's stick with the KISS principal.

Also, Ubuntu attests to having an 850 withouit any loan open or closed on file. http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Our-Forums-FICO-High-Achievers-Who-has-at...

[Revelate]

Inverse's explicit data pre-withdrawal:

FICO 8:

EQ 740

TU 752

EX 753

[Anonymous]

Was wondering what your opinion on my scorecard could be?. My equafax score at is 726 clean. No derogatory. My TU is at 638 with 3 derogatory 2 medical 1 from 2015 and 1 from 2016. Also 1 utilty from 2011 which is getting close to falling off. My Experian is 638 with 2 derogs. 1 medical from 2015 and the 1 utilty derogatory from 2011.

I have 3 CC showing 1% utilization and small balance on 1 card. One closed Wells Fargo CC account from 5 years old closed with all # green ok# paid as agreed but closed by grantor. I have one open new loan from 2 months now for 7500.00 showing 12,813 balance ATM 2 payments made. CC open accounts all around 7 months. My EQUAFAX score seems to be recovering from the new loan in just 2 months got back 11 points from the 53 I lost. As far as Experian and TU. They won't budge or jump me over the 640 mark. And I'm perfect with payments utilization etc. So the term paying your bills on time is not doing anything for my EQUAFAX and TU score