No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
creditcarduser wrote:Does anyone know when the three major agencies will begin applying Fico '08 scoring?
No. Each CRA provides lenders the option of using various FICO scoring models. The adoption of FICO 08 will depend on lenders moving to the new version, not just the CRAs.
creditcarduser wrote:
This may be silly, but isn't FICO 08 just a newer way for the CRAs to calculate your FICO? The FICO scores and the ranges will be the same, so the lenders won't need to do anything. The lenders won't go to the CRA and pull a "new" or "old" FICO score, they'll just pull a score. It is not a matter of when lenders adopt FICO 08, but a matter of when the CRAs begin using it. I am wondering if at least one of them isn't using it already. My reports are all exactly the same, but my FICO range between the three majors is 77 points apart.