@ddemari wrote:My Equifax FICO 04 score is 40 points higher than my Equifax 08 FICO score
Do you have any AU card? How old is your oldest TL in your report?
@ddemari wrote:I am an AU on a discover card that my mom opened up and put me on in 2000, when I 15.
I am also an AU on an old navy card that was opened in 2000 and is closed buy still reports.
My AAOA is 5 years, credit history 13 years.
Hmm looks like FICO08 is not factoring your AU tradelines, i am not 100% sure though.
@HiLine wrote:My understanding is that FICO 08 is more tolerant for short credit history, low AAoA, and high utilization. Consumers with these behaviors likely have a higher FICO 08 than FICO 04. Others, I suspect, will have higher 04 than 08.
Agree except with the high utilization bit: FICO 8 appears to weight recent information including utilization more severely than 04 did. This also applies to derogatories, the bucketing is way more lenient at least in my case and appears to be for other people as well.
Where FICO 8 absolutely sucks compared to FICO 04: you really need to have a mix of open accounts, namely a few revolving and a few installment. FICO 04 was seemingly "fine" for people (within reason, leaving points on the table) without credit cards but with a mortgage / auto / other installment history, but FICO 8 hits those folks hard. Seems to be similar with installment tradelines as well in the reverse for the only credit card people.
