Some lenders build their own proprietary scores. It's a little like me finding out that my glybudium blood level is 253. FICO will disclose its basic score, the factors behind it, and consumers will learn little than the number itself. Colonel Sanders of Kentucky Fried Chicken had his secret blend of herbs and spices. McDonald's has its secret sauce.
Lenders have their secret scores .
These investments are not small. A West Coast credit card bank has over 50 scientists. A mortgage lender has grown its science staff from 20 to 60 in the past year alone. Rather than looking simply at a FICO score, banks want to be able to predict how profitable a consumer loan will be. A bank may end relationships based on no annual fee for someone who has low usage and never pays interest.