the "new" scoring system?

[codedoctor]

I don't understand the new scoring system. I got an email about it and checked. So my FICO went from around 809 to 835. Not complaining, but I don't understand.

I could never understand why it was as low as 800-814, I thought it would be higher. And now it jumps to 835. Can someone explain this? Thanks.

[Shogun]

Here is some info on that.  Different scoring method, puts more emphasis and less emphasis on some things.  Some scores go up, some go down.

http://www.myfico.com/crediteducation/questions/fico8.aspx

[masscredit]

We're starting to see the new scoring system here but what version do most lenders use now?  I know there are many different scoring systems out there but will we be seeing what most lenders are using or is the current version still widely used?  The score that I receive from DCU always matches the EQ score that I see here. 

[Revelate]

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@masscredit wrote:

We're starting to see the new scoring system here but what version do most lenders use now?  I know there are many different scoring systems out there but will we be seeing what most lenders are using or is the current version still widely used?  The score that I receive from DCU always matches the EQ score that I see here. 

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According to FICO the '08 variants are the most prevalent now: which seems to make sense as I suspect most credit card issuers are on FICO '08 or BC-Enhanced industry option, and the number of CC and likely personal loan applications dwarf mortgages.  Auto loans may now be using FICO '08 Auto Enhanced industry option but there's not much way to really know that unfortunately as we don't have comparitive data points.

Mortgages, FICO '04 is still king.  

DCU unless they changed (I certainly hope not) no longer matches the myFICO EQ version: guess I will see first hand come Friday give or take since this is the first time I've received a DCU score since my SW got upgraded, but for me there's a big swing between '04 and '08 scores so should be readily apparent.