I've always been a bit confused with the whole fico scoring partly because of how generic the term has become anyway here is ficos list of its products. It appears as though when you talk about getting a score there will be a specific program name that calculated it for example beacon 96 or equifax risk score 98. Incidently I've heard but haven't confirmed yet that mortgage trimerge providers aren't always using the most up to date models...which might explain why people aren't finding that multiple inquiries for the same mortgage iwithin 30 days are considered a single inquiry(i think that model was in the nextgen scores)...Anyways food for thought. http://www.fairisaac.com/page.cfm?section=sub_cat&id=389&id3=389&id1=46&id2=157&layout=layout1.cfm
Thanks for posting that link, I hadn't looked though the Fair Isaac product list in a while. Check this one out: "ADVANCEBK® SCORES AdvanceBK scores, developed by Fair, Isaac, help Visaâ?¢ members reduce bankruptcy losses through early detection of high-risk accounts. The service, based on transaction information coupled with account performance data, delivers daily warnings of an issuerâ??s accounts that have the highest risk of becoming bankrupt." So if you use a Visa, they not only use traditional credit bureau information, they watch card usage, where you buy, how often, how much... This is not the only Fair Isaac model which uses transaction data. Makes you want to stop using credit cards altogether, if they weren't so darn convenient.
