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New Member
Posts: 14
Registered: ‎08-04-2007
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Fico '08?

Has this been implemented yet? What are the changes? Is it likely to affect my scores? Sorry if this has been covered before but I could not find an answer after several searches.
Moderator Emeritus
Posts: 9,252
Registered: ‎03-19-2007
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Re: Fico '08?

FICO08 has not been implemented at any of the CRA's.
 
Experian will be first-

knowlejboy wrote:
Has this been implemented yet? What are the changes? Is it likely to affect my scores? Sorry if this has been covered before but I could not find an answer after several searches.


New Member
Posts: 14
Registered: ‎08-04-2007
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Re: Fico '08?

Do you know when it's going to become effective, and what impact it will have on scoring? Where can I learn more about it? I'm trying to qualify for a mortgage in about 6 months.
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Epic Contributor
Posts: 28,098
Registered: ‎04-01-2007
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Re: Fico '08?

Check over on the Credit in the News board. Umpty-zillion posts over there.

The short answer is no one knows the when. There are several links on the posts on that board with summaries of what the changes are. The main one is that AU accounts will no longer be used in scoring.

rubaty and others posted a link to this article on yahoo:

http://finance.yahoo.com/banking-budgeting/article/104062/Default-Lines-The-New-Math-of-Credit-Scores
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Moderator Emeritus
Posts: 16,374
Registered: ‎03-12-2007
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Re: Fico '08?



knowlejboy wrote:
Do you know when it's going to become effective, and what impact it will have on scoring? Where can I learn more about it? I'm trying to qualify for a mortgage in about 6 months.


It wouldn't surprise me if FICO 2008 isn't widely used for some time.
Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1

Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring Mastercard ~ Chase Freedom Visa ~ CITI Dividend Platinum World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Valued Contributor
Posts: 1,424
Registered: ‎07-24-2007
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Re: Fico '08?

IMO, it will be a few years yet before all 3 bureaus adapt FICO '08.
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