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Credit Score Transparency
1) What statistical method(s) is/are used to estimate the Advantage 3.0 credit score? Classification? Regression, Artificial Neural Networks, PCA, Factor Analysis, others?
2) What are the exact dependent variable(s) and independent variable(s) used and how are they encoded?
3) If the statistical model is of the categorical classification type, what are the Type I and Type II errors (false positive/negative rates)? Other goodness-of-fit measures?
4) What is the composition and structure of the estimation, testing and or validation samples? Are they truncated in any way? To wit, time series, cross sectional, and or panel?
5) What are the results of model diagnostics?
5) Because both Transunion and Equifax, as model creators, have failed to adequately address these concerns by hiding behind the legal shroud of "proprietary information", I have:
a) Commensed legal action on September 4, 2016 in New York Small Claims Court.
b) Will aks the Connecicut and New York State Attorney Generals to take action against Equifax, Transunion, Fair Issac (FICA) and Experian for violation of the New York
Unfiar and Deceptive Trade Practices Statute NY GBL § 349 and Connecticut General Statutes Chapter 735a: Unfair Trade Practices Act
c) Seek an investigation from the Federal Consumer Protection Agency.
d) Contact Congressional members who are advocates of consumer protection.
The time for the credit score industry to be held to account is long overdue.

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My score dropped from > 760 to < 715 with no derogatory information. My current score is 714 and I haven't been 30day late on a payment in over 20 years. Something is wrong with the models which says may accounts are only 7 years old. I am 65. My accounts, although some closed now, date back to the 80's. How are those accounts factored in?

The industry that is known as the credit reporting industry effects each of our lives, is fraught with errors and needs to be reined in and tightly regulated.


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Closed accounnts do not measure in to your average age of accounts.   They merely become reference to payment history.  Credit is measured on what you do today as opposed to how you handled credit 20 years ago.  A lifetime of hard work and good credit management does not pay off. 

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