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FICO 9 ??? Calling all Credit EXPERTS !!

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Anonymous
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FICO 9 ??? Calling all Credit EXPERTS !!

So, I am told today about FICO 9, and I was told this newest model igonres any collections that have reached a $0 balance!!  FICO directly told me this, whcih could greatly benefit me as I just paid a collectino that is only 6 months old with PRA, on behalf of Cap One.  Is there any way to find this actual score out?  I'm todl the FICO 8 score may not go up at all if any, due to using a different model than the FICO 9.  .  Any way to tell which lenders are using the newest model?  When I app for new cards I want ot obvciously use my best FICO possible...

 

All these new and different scoring models confuse me to no end.  But, ignoring collections with a $0 balance is a huge upswing !!!   Any advice and input is greatly appreciated.

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Revelate
Moderator Emeritus

Re: FICO 9 ??? Calling all Credit EXPERTS !!


@Anonymous wrote:

So, I am told today about FICO 9, and I was told this newest model igonres any collections that have reached a $0 balance!!  FICO directly told me this, whcih could greatly benefit me as I just paid a collectino that is only 6 months old with PRA, on behalf of Cap One.  Is there any way to find this actual score out?  I'm todl the FICO 8 score may not go up at all if any, due to using a different model than the FICO 9.  .  Any way to tell which lenders are using the newest model?  When I app for new cards I want ot obvciously use my best FICO possible...

 

All these new and different scoring models confuse me to no end.  But, ignoring collections with a $0 balance is a huge upswing !!!   Any advice and input is greatly appreciated.


There's been no confirmed reports of lenders using FICO 9 yet; typically when FICO releases a new model it takes years to make any major adoption and the vast majority of lenders (credit cards anyway) are underwriting on FICO 8 or one of it's industry options, and the rest of the world including the mortgage universe are underwriting on older models than that.

 

There's no one offering a FICO 9 score to consumers yet, not even here which has the most scores available.

 

Also I'd note just because it ignores paid collections, it may not be markedly better than any of your current scores... simply optimize your file the best you can, and that will lead to the best score possible regardless of algorithm chosen.




        
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