@Anonymous wrote:With my AoYA being > 24 months I still see that negative reason statement on some models (like TU Fico 4).
It's probably profile dependent; if the new file scorecard exists (and I think most of us are of the opinion it does) then looking at your file or mine vs. Cassie's who is assuredly in that new file one, is bound to see some differences. We already have ample proof that not every reason code exists in all scorecards, and I think we're now seeing too that the same reason code while tracking the identical piece of data, quite probably even has different breakpoints: for me, and for you, unless we stumble over some breakpoint we just don't move and I know my score flatlines for months and years at a time, and the months is even on my EX scorecard which is part of the top 7 easy unlike the derogatory scorecards where I literally sat at 693/700 EQ FICO 5 for something like 3 years depending on whether I had 3 or 2 inquiries.
Also when I think of my own lack of points at the AOYA 3 month mark, we've tons of anecdotal data of people getting all sorts of increases in call it the first year of the credit build, maybe even 2 years for that matter... and then also anecdotally they get a rude surprise when they find it doesn't work like that once they have gotten to some point.
We've never really had a new file zealously track their scores before, so I'm not surprised we're seeing all sorts of interesting new data coming out of Cassie's tracking.
Actually, @Anonymous
I don't normally question your data but FICO 8 Classic reason codes are notoriously bad, and not having 4 reason codes might not be reference for this particular score unfortunately because all of them suppress reason codes except for the TU alerts here at myFICO. It's different on the ones that reliably provide 4 reason codes like TU FICO 4 on the 1B report as a different example.
Where are you tracking your EQ FICO 8 reason codes?
@Revelate wrote:I don't normally question your data but FICO 8 Classic reason codes are notoriously bad, and not having 4 reason codes might not be reference for this particular score unfortunately because all of them suppress reason codes except for the TU alerts here at myFICO.
It's different on the ones that reliably provide 4 reason codes like TU FICO 4 on the 1B report as a different example.
I've seen that already with TU FICO 8. The alerts will have 4 reasons, while the 3B report has 3.
Currently, both myFICO 3B and Experian CreditWorks show EX 8 with the same 3 reasons:
Short credit history, No recent loan activity, Short revolving credit history (this just moved down from #2 at AoYA 6mos)
Where are you tracking your EQ FICO 8 reason codes?
Right here on myFICO. I'm using the FICO Premier subscription at $39.95 monthly so I can get a fresh 3B report each month. It looks like they just renamed it - it was Ultimate 3B+ when I signed up in December.
I also have Experian CreditWorks Premium at $24.95 monthly.
So, yeah....$778.80 to track my scores during the first 12 months of having credit cards. With 1% cashback, it just makes sense! lol
I update my local credit score tracking database with the numbers and reasons from this section of myFICO's 3B report:
The problem is you get crap like this too:
I can absolutely promise you there are more than 2 things wrong with my Equifax report for FICO 8, and yet these are the only two that are displayed in myFICO's 1B product, which is the same data as the 3B just in slightly different presentation format for a single bureau.
As a result for others it's reference, for FICO 8 from myFICO even it's not. It sucks, it's stupid, and it's lame... but that's current generation CMS's. If you look at TU FICO 8 explicitly you can probably see this, the alerts give 4 as you note but the main interface does not.
Actually to show that, this is the TU snapshot from recently too when literally every other score provided has the "Recent missed payment" reason code, the main CMS truncates it.
@Revelate wrote:The problem is you get crap like this too:
I can absolutely promise you there are more than 2 things wrong with my Equifax report for FICO 8, and yet these are the only two that are displayed in myFICO's 1B product, which is the same data as the 3B just in slightly different presentation format for a single bureau.
It's like the main 'product' the CMS's are selling is simply a score, and everything else provided is an afterthought.
I got my start in programming writing front-end software to consolidate Excel spreadsheet data and make it easier to digest and update.
I would be so fired for some of the stuff I see on these 'reports' from various CMS's.
(My last chuckle came from Credit Karma's TransUnion Auto CBIS graph which showed my insurance score at 773 back in December, and 820 currently. It said my score went down -47 points. lol )
@Anonymous wrote:
@Revelate wrote:The problem is you get crap like this too:
I can absolutely promise you there are more than 2 things wrong with my Equifax report for FICO 8, and yet these are the only two that are displayed in myFICO's 1B product, which is the same data as the 3B just in slightly different presentation format for a single bureau.
It's like the main 'product' the CMS's are selling is simply a score, and everything else provided is an afterthought.
I got my start in programming writing front-end software to consolidate Excel spreadsheet data and make it easier to digest and update.
I would be so fired for some of the stuff I see on these 'reports' from various CMS's.
(My last chuckle came from Credit Karma's TransUnion Auto CBIS graph which showed my insurance score at 773 back in December, and 820 currently. It said my score went down -47 points. lol )
Credit Monitoring is still a blue ocean market; most people don't have it, and until somewhat recently (~8 months) there really wasn't a compelling alternative to myFICO if you were serious about it. Experian put out a more cost-effective product for me and as a result, I use that instead as a consumer.
I don't know, I gave some feedback once upon a time on the myFICO products when I was still a moderator, some got taken, some did not, but I think the product could admittedly be better.
In fairness to FICO Consumer: they didn’t build the backend product, they put the interface and some tweaks (with Experian as one well publicized example on the forums back in the day).
The actual products were originally monitoring tools by the CRA’s for the lenders, and they got repurposed for consumer use when there was money to made from consumer credit monitoring.
This is why if you look at all three bureaus here in myFICO you will see differences between them. Also if you look at either Equifax or DCU you can see the base Equifax Scorewatch product which was originally sold here at myFICO too... then myFICO switched to FICO 8 and the others did not, but the product other than the UI is the same before and after from an alerting perspective.
As a result some of the things like limited correlation between score changes and alerts isn’t their fault; likewise they may be getting reason codes in FICO 8 from say Experian and come to think of it their reason codes for FICO 8 suck too, and that behavior seems pretty collusive too since literally the only place I have ever seen all 4 reason codes on FICO 8 is the TU monitoring alerts here. Literally nowhere else and I have looked at a lot of CMS’s.
FICO could get their poop in a group and dominate consumer credit monitoring I suspect but when FICO business (whatever they called it) opened up credit scores via FICO Open Access I am guessing they figured the market opportunity passed.
The actual products were originally monitoring tools by the CRA’s for the lenders, and they got repurposed for consumer use when there was money to made from consumer credit monitoring.
This is why if you look at all three bureaus here in myFICO you will see differences between them. Also if you look at either Equifax or DCU you can see the base Equifax Scorewatch product which was originally sold here at myFICO too... then myFICO switched to FICO 8 and the others did not, but the product other than the UI is the same before and after from an alerting perspective.
As a result some of the things like limited correlation between score changes and alerts isn’t their fault; likewise they may be getting reason codes in FICO 8 from say Experian and come to think of it their reason codes for FICO 8 suck too, and that behavior seems pretty collusive too since literally the only place I have ever seen all 4 reason codes on FICO 8 is the TU monitoring alerts here. Literally nowhere else and I have looked at a lot of CMS’s.
FICO could get their poop in a group and dominate consumer credit monitoring I suspect but when FICO business (whatever they called it) opened up credit scores via FICO Open Access I am guessing they figured the market opportunity passed.