Received the following email today from wamucards:
CREDIT SCORE CHANGE AVAILABLE
Your credit score has changed +/- 20 points since JUN 2007 and is available online.
To access your credit score and view your score changes over time, go to www.wamucards.com , log in and click the "Credit Profile" tab.
Although FICO(R) scores can change over time based on changes in your credit file, we want to let you know that a recent update to the FICO scoring system may result in an additional change to some people's FICO scores. Our system has been updated to return the most recent version of FICO score, so you might see a different score the next time you visit the site. We expect that most people will see a relatively small change in their score as a result of this update.
Fair Isaac--the company that developed the FICO score--changes the scoring model periodically to reflect the current lending environment. This updated version of the model ensures that the FICO score continues to be reliable, consistent, and powerful risk assessment tool.
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*cough* OP, did you actually read the email? I got one too, all it is doing is telling you that your score changed 20 or more points in one direction or the other.
ThursdaysChild said: Although FICO(R) scores can change over time based on changes in your credit file, we want to let you know that a recent update to the FICO scoring system may result in an additional change to some people's FICO scores. Our system has been updated to return the most recent version of FICO score, so you might see a different score the next time you visit the site. We expect that most people will see a relatively small change in their score as a result of this update.
Fair Isaac--the company that developed the FICO score--changes the scoring model periodically to reflect the current lending environment. This updated version of the model ensures that the FICO score continues to be reliable, consistent, and powerful risk assessment tool.
i think this is the part that he was trying to emphasize.
gizmoduck said:ThursdaysChild said: Although FICO(R) scores can change over time based on changes in your credit file, we want to let you know that a recent update to the FICO scoring system may result in an additional change to some people's FICO scores. Our system has been updated to return the most recent version of FICO score, so you might see a different score the next time you visit the site. We expect that most people will see a relatively small change in their score as a result of this update.i think this is the part that he was trying to emphasize.Thank you, gizmoduck. Last time WaMuCards changed their scoring everyone went nuts, so I was just posting a heads-up.
And yes, for those of you who were kind enough to ask, my score went up 20+ points in their system, which is "a relatively small change" in relation to my total score.
I noticed that this happened when I logged in to my WAMU card account too - there was a drop of about 30 points, even though there was no change in any of the parameters to go into the score (no increase in debt, no late payments, no change in income, and I hadn't applied for credit anywhere in ages). I think that they changed the scoring system a bit.
I heard on NPR a few months back that some change was in the works because of people "renting" credit cards from people with good credit (i.e. adding the person with bad credit as an authorized user on another's card, but the bad credit person never getting the card or even account number) in order to make their debt-to-limit maximum look better than it actually is - this was actually a "successful" strategy for people doing this to get better mortgage rates.
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