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2 years ago
Sat Jul 02, 2022 8:38 am
Have1
Seasoned Rebel
Have1 has been gardening for over 2 years.
I was reading this thread EX8 AU Termination Point Loss and saw this post where the subject of whether FICO scores start at 250/300 or 850/900 was broached by @Justaguy .
I am a bit befuddled by the idea that a credit file would start at either extreme of the scale. It would make more sense to me to start the score at a set baseline then add and/or remove appropriate points as dictated by the individual factors of the record.
Otherwise, we would need to identify where, literally, hundreds of points come from when a new credit file hits 6 months and is scored for the first time. Is "first account" worth 200 points? "First inquiry" worth another 100 points? "First on time payment" worth 50 points? Or, maybe 6 months AoOA is worth 300 points?
If there are some baked in points gained for "first" this and that or a huge point allocation for hitting 6 months, isn't that really just saying "all files begin with this many points then lose and gain from there"?
The same argument can be made from the perspective of starting with a perfect score and losing ~150 points off the bat.
What do we know about this?
Click images to enlarge them.
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Score data
Recent Scores (Oct '23):
EX8: 758 EX9: 814
EQ8: 760 EQ9: 820
TU8: 765 TU9: 823 - Classic 8 Scorecard DIRTY/PUBLIC-RECORD/MATURE
- Mortgage Scorecard DIRTY/PUBLIC-RECORD
- AoOA 19 Years
- AoORA 19 Years
- Date of Last Inquiry and/or New Account Opening March 12th, 2022