The many flavors of FICO:__Editions, versions, and variations

[Kratos-TM]

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@Anonymous wrote:

I know my mom had a 829 about 5 years ago.

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Was this EQ04?

[Anonymous]

Yes.

But now that I think about it, it could have been an auto enhanced score.

[Kratos-TM]

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@Anonymous wrote:

Yes.

But now that I think about it, it could have been an auto enhanced score.

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Have you heard of anyone on this forum with a >818 EQ04?

[JagerBombs89]

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@jello77 wrote:

Accounts that are open but inactive

FICO 8 is more aware of which accounts have been inactive with a 0 balance for a long time, and those accounts will factor less into your score.

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How does FICO differeniate between accounts that are reporting a 0 balance due to inactivity over the accounts that are just 0 balance because of PIF every month?  Is it because of the date of last status reported??

[Revelate]

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@JagerBombs89 wrote:

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@jello77 wrote:

Accounts that are open but inactive

FICO 8 is more aware of which accounts have been inactive with a 0 balance for a long time, and those accounts will factor less into your score.

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How does FICO differeniate between accounts that are reporting a 0 balance due to inactivity over the accounts that are just 0 balance because of PIF every month?  Is it because of the date of last status reported??

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Date of last status reported and there's a "Inactive' flag which can be associated with a tradeline and cause it to be discounted from scoring as I understand it.

[Roarmeister]

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@Kratos-TM wrote:

I know this is an old thread, but I'm still wondering if the 818 max score for EQ Beacon 5 is still legit. Seems I've seen some members here lately with higher than that from EQ04.

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I had a 807 from EQ Beacon 5 - Canadian version (300-900) and I only hit the 76 percentile meaning 24% of Canadians had a HIGHER score than that.

Hence the reason for the extended range since Canadians by and larger have much lower credit default rates than Americans.  Ex. 29% of Canucks have a 1% or less liklihood of defaulting vs. 13% and at the other end of the scale only 4% CDN have a >50% risk of defaulting vs. 15% US.

[gdale6]

Thanks OP very informative.

[MidnightVoice]

When I started on this forum (2007) getting FICO scores from here was a great idea, and truly indicative of one's credit status.  Nowadays - not so much. There are so many "real" scores that lenders actually use, so many versions of FICO, that it is becoming a total crapshoot

[tketch]

Re: Fico 98, Equifax Beacon 96.

A few weeks ago I applied for a mortgage and received a response showing my credit scores and models used.  Lender had used Equifax Beacon 96.  This seems to conflict with your statement  that “Equifax stopped using this version in 2005”. The score matches closely with whatever Equifax  version is presented through MyFico.   We’ll see if it keeps tracking  as closely as of the most recent “upgrade”  of the model that happened on May 17.       

[Revelate]

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@tketch wrote:

Re: Fico 98, Equifax Beacon 96.

A few weeks ago I applied for a mortgage and received a response showing my credit scores and models used.  Lender had used Equifax Beacon 96.  This seems to conflict with your statement  that “Equifax stopped using this version in 2005”. The score matches closely with whatever Equifax  version is presented through MyFico.   We’ll see if it keeps tracking  as closely as of the most recent “upgrade”  of the model that happened on May 17.       

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What type of mortgage was this in particular and from what lender?  That individual score wouldn't be for a conventional guarunteed unless the bank in question was portfolioing their conventional mortgages... which is pretty much unheard of for nearly the last decade or longer.