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Fair Isaac's 2008 version of its broad-based credit bureau risk score model

| By Greg Fisher

Other items on this site about FICO 08


1/19/08. "The fifth generation of the formula comes at a critical time as lenders more closely scrutinize customers for creditworthiness following the collapse of the subprime mortgage sector." "New credit-score method forgiving" - David Migoya, Denver Post

1/11/08. "If you have late payments or collections - your credit score is going to get hit even harder than before." "FICO gets a facelift" - Quicken Loans

1/7/08. "One credit bureau that won't be adopting FICO 08 is Equifax, whose officials cited a lawsuit filed in 2006 by Fair Isaac against the three bureaus regarding VantageScore, a credit score jointly developed by the bureaus." "New credit scores cut benefits for authorized users"- Pamela Yip, Dallas Morning News

1/7/08. "The new version of FICO has prompted anger over the elimination of the authorized user category claiming that it will unduly penalize women who are more likely to have that status on their husbands' card than vice versa." "FICO Speeds Rollout of New Product to Meet Lender Demands" -

1/2/08. They're trying to "separate out the naughty list, with a little bit more slicing and dicing." - Fox Business guest,'s Ben Popken, (video)

12/19/07. "But the new model will more finely slice and dice the information in consumers' credit files... The new FICO model has already been distributed to Experian, which is in the process of implementing it, while TransUnion expects to have the scoring model available for lenders to test during the second quarter of 2008." Jane J. Kim, Wall Street Journal (alt, alt)

11/4/07. "Fair Isaac Corp., developer of the FICO score widely used for home loan underwriting, confirmed that its 'FICO '08' scoring model is not yet available at any of the three national credit bureaus." - Kenneth Harney, Nation's Housing (syndicated), Washington Post

11/2/07. Bombshell: "When told that one bureau may not support FICO 08, the MBA's Mr. Carlisle said that 'there are other bureaus.'" "Rift with Bureau Could Hold Up FICO 08 Rollout" - American Banker

A world without Equifax. Fannie Mae guideline: "Therefore, we recommend that a lender obtain a minimum of two credit scores for every borrower."

8/5/07. Experian and September: "Experian will offer this new FICO scoring model beginning next month, says Maxine Sweet, Experian's vice president of consumer education." "Your Credit Score may Change as FICO Creators Drop Authorized Users" - Eileen Ambrose, Baltimore Sun (alt)

7/26/07. "In other words, con artists found a way to exploit a system that legitimately helped many consumers... Parents, for example, often add teenagers as authorized users to existing credit card accounts." "Agency KOs piggyback rides for improved credit score" - Asa Aarons, New York Daily News

7/16/07. Muffy and Biff, and the notion that you don't have to earn credit-- you can use your family's. "Officials at American Express are talking with Fair Isaac and the credit bureaus to see if 'there are ways that [authorized user] card members won't be negatively impacted,' said Desiree Fish, American Express spokeswoman." "Credit scoring move may hurt innocent users", Pamela Yip, Dallas Morning News

7/10/07. "Fair Isaac Corp., the Minneapolis company that creates the formula used to calculate the score, is downplaying the change, saying that it won't have much of an effect... I beg to differ." "Your FICO credit score could change under new rules" - Vicki Lee Parker, Raleigh News and Observer

7/15/07. Fair Isaac spokesman: "We were fine with authorized user accounts so long as it was someone within the household who was learning credit management skills at the same time." "Credit-boosting shortcut fades fast"- Carolyn Bigda, Chicago Tribune

7/15/07. "In response to this sham, Fair Isaac Corp., which developed the FICO score, plans to roll out a new scoring formula starting in September." "'Renting' credit: a bad idea that's going away" - Helen Huntley, St. Petersburg Times

7/12/07. "By September, Fair Isaac will begin rolling out its new scoring model, called FICO 08." "A Credit Score You've Earned" - Michelle Singletary, Washington Post

6/25/07. "Fair Isaac has suggested that 'authorized' or 'supplemental' users may obtain joint accounts or consider getting a loan co-signer to build credit." "No free FICO rides" - Gail Liberman and Alan Lavine, MarketWatch

6/16/07. "Terry Clemans, executive director of the National Credit Reporting Association, said that while he understands 'Fair Isaac's need to solve the [application fraud] problem, I would think there must be some less drastic ways to filter out' legitimate authorized-user accounts from the new breed of rented credit card accounts." "Putting a Stop To a Credit Ruse" - Kenneth R. Harney, Washington Post

6/5/07. "And the closing of the 'authorized user' loophole won't just make building credit tougher for consumers -- it's exposed a vulnerability in the FICO score that has competitors like the credit bureau-backed VantageScore ready to pounce." "For Rent: Your Credit Score" - Martin H. Bosworth,

6/3/07. "Estruch paid $1,800 in December for three credit card spots, and by January, his FICO score jumped from 550 to 715." - "'Piggybacking' Roils Credit Industry" - J.W. Elphinstone, Associated Press

5/17/07. Fair Isaac press release. Announces that its "researchers have added key innovations to the Classic FICO."

9/21/06. headline: "Bad FICO score? Bad credit? Just rent some!"

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