cancel
Showing results for 
Search instead for 
Did you mean: 

Fico '08?

New Member

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.
5 REPLIES
Moderator Emeritus

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

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.
Moderator Emerita

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

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.
Valued Contributor

Re: Fico '08?

IMO, it will be a few years yet before all 3 bureaus adapt FICO '08.
New York Yankees - 2009 World Series Champions. 27... and counting.....