Supershawn is right on target. The number of possible permutations is outrageously high. As Chelechele once put it so eloquently, "hmmm." Doc
So we can all agree that this was definately a "thing that made us go hmmmmm?" Sorry, I couldn't resist! Shawn
Go to http://www.bayhouse.com and read the credit scoring information over there. It isn't exactly "reverse engineering" but it's real world advice from a person who has seen a great many reports. I have found the advice to be very accurate. I went from bouncing around in the high 600's to a mid-700's thanks to the info over there... RM
Many of you may have seen this one, but if you have not, it seems to tell a lot about credit scoring too. http://members.aol.com/victcrdrpt/
Wow!! What do you know? Christine has finally awakened to reality, left the desert, and is offering her services in various areas for a fee. She will analyze your report and tell you how to raise your score, answer questions about mortgages and home buying, and dispute for you if you have inaccurate information on your report. http://www.bayhouse.com/services.shtml#Credit analysis I don't know Christine personally - actually she got on my nerves a few times with her abrasiveness, but her expertise is hard to question. This isn't meant to be promotional, but I have a lot of respect for her knowledge in these areas.
Yes, but WOW! that's extremely expensive. And then she's going to tell you about debt consolidation and how it will affect your credit rating for $40 or $70 or whatever?
Call me an optimist, but I think it can be done. Sure there are a lot of variables, but we know to some degree how most of them affect fico, all it would take is to quantify them, and find some relationships. As for your security concerns, I don't need ANY personal info, not even creditor names. All we need are dates and amounts. Maybe someone who u do trust can receive and compile the information. If not, it was just an offer, born out of curiosity. KJ
Wouldn't you also need to know the FICO score reported for those amounts? And why would dates be of any use? I'd think amounts and type of debt reported or type of inquiry generated plus the resultant FICO score would be what you'd need. Then you could probably use multiple regression or a curve type model such as Bell or other curve to reverse engineer it over time. But dates??????
Don't know if this will help but, I have some banking sources who have done a lot of consulting in the area of unsecured credit. Not necessarily with FICO but, trying to tweak it a little. They say there are 3 things that are of paramount importance. First of all, pay on time, in the agreed amount, and with good funds. Secondly, the age of the accounts gets more important the longer you have them. Finally, a number. They say that to be an absolute prime customer, keep yourcc debt at 18% of the total credit line available.If you do these 3 things, over time, you will maximize your FICO score. As anside, many bankers are privately getting frustrated with FICO scoring. As one told me, "when you reduce credit decisions to a universal black box, all you have is a system and, given time, a system can be beaten".
yes, dates of inquiries, account opening, etc. Time has major effect on FICO. The older your inquiries ,the less impact they have. The older your accounts are, the better they score. Time has a dampening effect on all types of negative information. I would say dates (or age) of information is key here. And yes, of course the FICO score itself would be needed. -KJ
I think the Random Number Generator is powered by a Mood Ring. George, The accumulation of frustration expressed in your posts has left me dumbfounded. I'm torn between nominating you to be our Honorary Rodney Dangerfield or our Honorary Charlie Brown (both loveable guys you should note). But how to tell which one??? How about this: Do you ever get rocks in your Halloween goodie bag?