I don't think we should worry about it because the FICO 08 scoring system will hurt consumers who's reports consist AU cards. Consumers who have cards under their name will not see much of an impact.

It is not totally in effect as of yet, but when I goggled, I always saw 2008.

Kellbell, you can always google to see if they have a set release date for the rollout of the new FICO system. if you can dig up anything, please post it back here in the forum. Thanks.

Is FICO '08 in affect????

I am happy to say that I have never been an AU on anybody else's credit card. I don't get why somebody who ruined thier own credit score would do it just to get a higher score.

Meya, you're exactly right. AU's should pick up the responsibility on paying on-time. There are a lot of cards nowadays that help consumers rebuild their credit. There's no excuse for not rebuilding your credit under your own name, not someone else's.

Hjm331, it is not what someone wants to hear, that is just the way it should be. I don't think it is fair for somoene to get credit for what the next person established and we are busting our behinds off doing things the right way. I actually feel sorry for the AU's because their cr is doing to hit rock bottom when the FICO 08 becomes officially enforced. Think about the people who did not use/abused what AU was actually for? Ewww, I feel for them.

The FICO '08 scoring system is going to hurt those who have built their credit score on AU cards. The new FICO scoring system is really forcing people to open accounts in their names as opposed to "piggyback riding" on someone's account which most likely is in good standing.

I understand why they are doing this even though it's not what we consumers want to hear. Since most lenders today rely on the FICO scoring system to base their decisions for approvals on loans/credit cards, they are getting the wrong impression of the consumer applying for credit because anyone who has bad credit can became an AU without credit check. Once the lender starts reporting the info onto their credit report, it raises their score but they still have a bad credit report. Lenders feel as if they are getting "inaccurate scores" once the AU factor comes into play and that's why the new FICO '08 scoring system is making adjustments.

I havent heard anything but I have certainly noticed a big change in my FICO scores as opposed to the FICO08/Risk Scores. They seem a lot higher under the old FICO system based on my new reports in May 2008.

Rockin35!StillAlive!....but Mad!

Has anyone heard any new news about the FICO 08 Scoring system?

It has became a quiet conversation lately!

Porgy,

Thanks for the information. Your a big help.

Hi, yeah, I have been working until 3 and 4am the last few nights. I should be back to normal shift now. Why cant people be murdered at normal hours?

Fico 08 will not change much for people with credit lines under $500. Total useage of under 35% applies to every credit line.

If you are rebuilding or new to credit, just be sure to keep your balances below 35% of the line.

Most of the old rules still apply, from what I can see with FICO 08, things are no longer bunched together. If your 30 days late just once, small hit on your scores. Twice bigger etc. Fico 04 and one hit you where out.

Also the AU thing that will be gone now too. Just alot more little quirks now inplace that where not there before.

Hey Porgy, are you ok?

Hey porgy, one of our fellow members sent me a message asking, "How will the new fico scoring system impact our cr's that has limits under $500" Can you please respond so that we can get him an answer asap? Thanks Porgy!