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Scorecard be what I am missing???

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Frequent Contributor

Scorecard be what I am missing???

For years I have felt like I have an artificial weight, so to speak, attached to my FICO scores. I cam upon something called a Scorecard, but I am sleep deprived and reading what I found on it didn't fully make sense to me, but it sounded like it could be the reason behind my so called ball and chain. I have always wondered why my score seemed a little lower than expected. I have never had a bankruptcy, foreclosure or anything like that, but years ago had many late payments and collections that I paid off. In the past 10 years I have only had a couple of 30 day late payments and the most recent was in 2017. I do have high CC utilization, but have paid everything down to a aggregate utilization of 30% and my individuals are all under 68% and next week will all be under 30%. I am wanting to get my score up in the high 700s, but it looks like being having the wrong scorecard could make that very difficult. Could someone please simply explain if scorecards are something that changes with utilization or how you go about changing your scorecard? I know people keep saying FICO has no memory of previous behavior, but my impression was that your scorecard was based on previous behavior.

EQ701 TU708 EX687
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Super Contributor
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Super Contributor

Re: Scorecard be what I am missing???

Yep the scoring primer will explain it to you under scorecard basics in post one
-Our Community’s updated scoring wisdom: Link to Scoring Primer.
-For Negative Reason Codes see: CassieCard’s Score Factors thread.
-ccquest’s workbook to calculate metrics for you: Link to Workbook.

Oct 2020 New Account Scorecard.Nov 2020, No New Account Scorecard (reassignment conflated with aging. EX9 not updated yet. Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.


RIP:
(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 3 of 5
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Frequent Contributor

Re: Scorecard be what I am missing???

Thank you!

EQ701 TU708 EX687
Message 4 of 5
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Super Contributor

Re: Scorecard be what I am missing???

You are welcome. Good luck on your credit journey.

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