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     | Sunday, February 04, 2001 - 02:31 pm  The NEW FairIsaac NextGen Risk Factors I manually entered the codes, so PLEASE post here if you find any discrepancies with the Fair Isaac original http://168.230.129.57/servlet/SiteDriver/Content/1701/NextGenClassic1pgr.pdf -------------------------------------------------- 8/30/01: Just noticed that the link doesn't work anymore and was unable to find the NextGen score factors at the Fair Isaac site. From http://168.230.129.57/servlet/SiteDriver/Content/1733 "The NextGen risk scores are called Pinnacle at Equifax and PRECISION at Trans Union. These scores will be available from Equifax and Trans Union for prescreening, on-line decisioning and account management, as well as through Fair, Isaac's PreScore® Service and ScoreNet® Service." It doesn't say WHEN they'll be available. ------------------------------------------------------- I haven't had a chance to spend a LOT of time on the new risk factors, but here are some of the differences I noticed I was creating the page: A5 - Amount owed on collections. I always thought it was weird that the "Classic" scores ignored payments. What about charge-offs? A8 - Amount owed on recently opened bank/national revolving accounts is too high So, when you open a new account because they offer 0% APR and you transfer your balances to that new account, that's bad? B2 - Amount owed on recently opened sales finance company accounts is too high What IS a sales finance company account? B4 - Amount owed on revolving accounts B5 - Amount owed on revolving accounts is too high If we have B5 for the balance too high, is B4 for balance too low? M9 - Number of collections filed Finally it makes a difference how many collections you have. What about charge-offs? R1 - Too few accounts with balances That's outrageous! X0 - Payments due on accounts What does THAT mean? Due to the tremendous amount of codes referring to very SPECIFIC types of accounts as well as RECENT info, I think it's time that everybody gets to see the data EXACTLY as Fair Isaac's scoring software. Creditors need to be held RESPONSIBLE for what they (don't) report.
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| | Monday, February 05, 2001 - 03:56 am A8 - Amount owed on recently opened bank/national revolving accounts is too high So, when you open a new account because they offer 0% APR and you transfer your balances to that new account, that's bad? I can see it two ways. The other way is "Hey, this guy is opening up accounts, charging them to the hilt so that he can file bankruptcy after a shopping frenzy". Any pattern of opening up many accounts within a short period of time and charging them up very quickly CAN be an indicator of such behavior.
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