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Unbelievable credit score/employers mess video |
credit score > range
Credit score range
Definition and comparison of the range of various credit score models, including FICO
7/21/2009
The FICO credit score range is 550:
850 - 300 = 550
(Its lowest and highest values are 300 and 850.)
Experian used to have a credit score with a range that made sense— 1000— but changed it, ill-advisedly.
Definition of Range
- Math.com
- "In statistics, the difference between the largest and the smallest numbers in a data set."
- Dictionary.com
- Statistics. the difference between the largest and smallest values in a statistical distribution."
- Encyclopedia Britannica
- "The range, the difference between the largest value and the smallest value, is the simplest measure of variability in the data." (categorizes the term "range" as a numerical measure of descriptive statistics)
For confusion, see: http://mathworld.wolfram.com/Range.html
And, count on Wikipedia to provide an inaccurate definition of range with an entire section of its Credit score (United States) article called
Range of scores. It never mentions a score range, and even conflicts with its own definition in Range (statistics).
Other scoring systems' ranges
50 (50 to 100) is the range of the Wine Advocate Rating System devised by Robert Parker. You get 50 for just showing up. That could be the idea behind most of the credit scoring systems: To avoid having people jump off ledges due to a score of 27 out of 1000, or obsessing over getting a perfect 1,000 (VantageScore curiously stops at 990).
Some scoring systems' ranges
Also, see:
Fun with numbers
What is a credit score?
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Lines are drawn
Are you a Believer or Nonbeliever—are they really used in jobs? Credit score use by employers showdown.
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April, 1997: "Information on how to obtain one's credit score is suspiciously absent from your site. How do I get mine?"
"And we're not running a game show. I mean, we're evaluating risk. We're not trying to have people get--achieve the highest score."
"Fisher is a fan of going by the book and then beyond it."
"He beat the scoring proponents to the punch by scooping up the web address http://www.creditscoring.com, from which he launches often strident, sometimes wacky, but usually well-documented attacks on the credit-scoring concept and the industries that support it."
Realty Consumers Empowered By Online "Peoples" Court - "His Web site CreditScoring.com helped him-- and millions of other consumers-- extend fair credit reporting rights to credit scoring information."
"Fisher operates the www.creditscoring.com Web site, which skewers the secrecy of the credit bureaus and Fair, Isaac." - The Detroit News
"CreditScoring.com is an exceptionally-interesting site that offers news and information regarding credit scoring and--
really-- the entire credit process."
"'Garbage in, garbage out,' says Greg Fisher of Dayton, Ohio, who runs two Web sites on the subject, creditscoring.com and creditaccuracy.com."
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