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April DCU FICO is Up

The last post in this topic was posted 903 days ago. 

 

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781 (-3)

 

Still amazed at the volatility of Fico 04. I'll have to make a chart like yours, it's a roller coaster ride.

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781 (-3)

 

Still amazed at the volatility of Fico 04. I'll have to make a chart like yours, it's a roller coaster ride.

 

Definitely twitchy!

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805, up from 705.

 

BK7 dropped off a couple of months ago, now all scores above 800.

Damn! :D

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Im new to DCU, joined late March. Have been looking, but cant find the FICO link?

 

Thanks,

 

Joe

 

Check your messages on DCU.org. You will find them in the section counter-intuitively labeled "Account Manager."

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Check your messages on DCU.org. You will find them in the section counter-intuitively labeled "Account Manager."

Thanks. Thought Id read thats where the offer for FICO was, but no new messages (at least on the app). Will check on a desktop and see also.

 

Thanks,

 

Joe

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You have to opt in to the free FICO. And you have to have a checking account or CC, not just the share account.

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You have to opt in to the free FICO. And you have to have a checking account or CC, not just the share account.

Interesting. I DO have the free checking, although I havent made a deposit yet.

 

Joe

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781 (-3)

 

Still amazed at the volatility of Fico 04. I'll have to make a chart like yours, it's a roller coaster ride.

 

Interesting. Mine seems to move rarely compared to FICO 08. 798 this month and last. 792 the four months before that.

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Checked on a desktop this morning, no option there either. Assuming its either because Im new, or havent had a deposit yet. Have both checking and savings accts.

 

Joe

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did you call them and opt in?

Didnt try calling yet. Everything I had read said that there would be an opt-in message in my inbox, but nothing. Ill try calling.

 

Thanks!

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no, you've confused the inbox with opt-in.

 

the inbox is where they send your score each month.

 

you call them to opt-in before they start sending you a score.

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no, you've confused the inbox with opt-in.

 

the inbox is where they send your score each month.

 

you call them to opt-in before they start sending you a score.

Awesome, thanks! 👍🏻

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781 (-3)

 

Still amazed at the volatility of Fico 04. I'll have to make a chart like yours, it's a roller coaster ride.

 

Interesting. Mine seems to move rarely compared to FICO 08. 798 this month and last. 792 the four months before that

 

 

Fico 8 rarely flinches for me over time. I usually get sharp drops with new accounts. But Multiple accounts with balances seems to destroy Fico 4. The 40 point drop a few months ago was only amounts and balances while Fico 8 actually rose in the same time frame.

34nqnpg.png

Edited by EricDET

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781 (-3)

 

Still amazed at the volatility of Fico 04. I'll have to make a chart like yours, it's a roller coaster ride.

 

Interesting. Mine seems to move rarely compared to FICO 08. 798 this month and last. 792 the four months before that

 

 

Fico 8 rarely flinches for me over time. I usually get sharp drops with new accounts. But Multiple accounts with balances seems to destroy Fico 4. The 40 point drop a few months ago was only amounts and balances while Fico 8 actually rose in the same time frame.

34nqnpg.png

 

 

Love the graphic!

 

There's no question that FICO 04 is much more sensitive to number of accounts having outstanding balances and new accounts than FICO 08. I actually surmise that it's the case that FICO 08 simply applies a weak "penalty" for these factors in the absence of true adverse information (delinquencies, high utilization, etc.) That's why some of us who had trouble breaking 800 under FICO 04 have successfully been at (or are at) 850 under FICO 08 with one or more CRA's.

 

On the other hand, those who maintain more consistent balances might well see move variability with FICO 08 than with FICO 04. And, clearly, I suggest that those in "weaker" score bands might feel greater pain under FICO 08 than those with "outstanding" scores (as opposed to FICO 04, where these factors hit all credit bands with near comparable impact).

 

I personally use my credit to maximum advantage. This means that between directing purchases to optimal cashback cards, not sweating statement balances, and taking advantage of multiple 0% offers to finance several "major" purchases, my FICO 04 is in the "dumps" (760) vs my FICO 08 (830). Since credit availability is relatively unimpeded under either score, I don't take steps to manage either one.

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