Thursday, August 14, 2008
FICO 08 - Trans Union Authorized User account apparently NOT ignored
Funny how it goes, is ANYTHING Fair Isaac says ever true?
I have a client with a very thin file, only two unrated student loans on TU and a few collections (reported as such.)
FINALLY an AU account was reported and according to the score factors, the account history for the AU account was rated.
You have a short credit history
Your oldest account was opened 2 years ago.
Average age of your accounts 1 years
WITHOUT the AU account:
You have a short credit history
Your oldest account was opened 9 Months ago.
Average age of your accounts 9 Months
The student loans still counted for the history although reported as “unrated or bankruptcy”.
Those very thin files are extremely helpful with determining what goes into the FICO scores.
I suppose the AU account won’t be rated for the B/L ratio, we’ll hopefully see that once we have a balance, it’s $0 right now.
There is some strangeness with the other factors too and hopefully I’ll have time to post more about that soon. I’d like to start a new blog just on FICO scores, I see so many interesting factors, but here the posts get lost. I need more space, categories, and a few more hours in my day.
2003 Suit (appealed, Experian filed credit reports on PACER) • Fair Isaac - credit scoring fraudware • FICO 08 -- Authorized Users • (0) Comments • Permalink
