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2 years ago
Mon Sep 19, 2022 11:18 am
Credible
Seasoned Rebel
Credible has been gardening for over 2 years.
Credible has achieved the Garden Goal !!
Credible has achieved the Garden Goal !!
Instead of just looking at one's credit score as a number, what if we represent it as a percentage? Different credit scores have different ranges, so this would be one way of judging how high one score is relative to another. If I am doing the math right, it could be calculated like this:
T=top (highest possible) score
B=bottom (lowest possible) score
S=your score
R=range of possible scores
One can then construct mathematical formulae to come up with a percentage of how close someone is to perfect:
T-B=R
(S-B)(1/R)=%
For some concrete examples, I can use my EX2, EX8, and TU8 FICO scores in that order:
844-320=524
(811-320)(1/524)=93.7%
850-316=534
(777-316)(1/534)=86.3%
850-341=509
(785-341)(1/509)=87.2%
I think this is a practical idea, but I have only ever seen this idea described once. Does anyone else like this idea?
T=top (highest possible) score
B=bottom (lowest possible) score
S=your score
R=range of possible scores
One can then construct mathematical formulae to come up with a percentage of how close someone is to perfect:
T-B=R
(S-B)(1/R)=%
For some concrete examples, I can use my EX2, EX8, and TU8 FICO scores in that order:
844-320=524
(811-320)(1/524)=93.7%
850-316=534
(777-316)(1/534)=86.3%
850-341=509
(785-341)(1/509)=87.2%
I think this is a practical idea, but I have only ever seen this idea described once. Does anyone else like this idea?
- Classic 8 Scorecard CLEAN/THICK/MATURE/NO-NEW-REVOLVER
- Mortgage Scorecard CLEAN/THICK/MATURE/NEW-ACCOUNT
- AoOA 129 months
- AoORA 51 months
- Date of Last Inquiry and/or New Account Opening March 28th, 2022
- Garden Goal 24