Reply
New Visitor
Posts: 4
Registered: ‎05-23-2008
0

FICO Classic 04 -- good, bad, or indifferent+

Can anyone tell me if FICO Classic 04 indicates that someone is a fair risk?  I'd just gotten used to the 500, 600, etc., system, and now they've come up with "Classic" and I'm lost.
Senior Contributor
Posts: 3,071
Registered: ‎05-17-2007
0

Re: FICO Classic 04 -- good, bad, or indifferent+

[ Edited ]
Classic is just another name for the Mortgage score I believe which relates to all release models and it's about to be updated with FICO 08 in 2009 est. Classic will still refer to the mortgage score. You have Classic/Mortgage, Wamu PFICO/Card Enhanced and Auto Enhanced. I think fair is 560-659 for a mortgage score. If anyone knows otherwise please post.

Message Edited by ilovepizza on 05-23-2008 08:50 PM
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
New Visitor
Posts: 4
Registered: ‎05-23-2008
0

Re: FICO Classic 04 -- good, bad, or indifferent+

Thanks for your info.  Do you know if  Classic 04 would be an ok score.  Do you know what, for instance, "04" would equate to in the 500, 600, etc., type of fico scores?
Moderator Emeritus
Posts: 6,794
Registered: ‎09-29-2007
0

Re: FICO Classic 04 -- good, bad, or indifferent+



wowee wrote:
Thanks for your info.  Do you know if  Classic 04 would be an ok score.  Do you know what, for instance, "04" would equate to in the 500, 600, etc., type of fico scores?


The "04" you are referring to is not a score itself.  It's the name of a FICO algorithm for TU that was developed in 2004, and which has slowly begun to replace the older TU 98 version.  The "04" is simply short for 2004.
 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )

Get a myFICO recommended credit card

Copyright ©2001-2013 Fair Isaac Corporation.
All rights reserved.

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.