@CS800 wrote:
@Barry wrote:
@CS800 wrote:
So EX also has different versions? I thought EX was the only one with one version.
Hi CS800,
Oh no, that would be too simple.While the most commonly used EX is v2, there are also v3 and v8 (FICO 8) scores.
-Barry
What the difference between these EX versions?
Hi CS800,
The majority of differences between any FICO score versions tend to lie in the number of points for a particular factor rather than changes in the factors themselves. The factors tend to remain the same for the most part, i.e. late payments, high util, new accounts, etc. are considered by all models, but their impact can change slightly from one version to the next.
Some differences in these models I can cite:
v2
- low balance/limit HELOCs reported as revolving may be included in revolving utilization % (don't ask me what we mean by "low" because I won't/can't tell you)
- inquiry deduplication period for mortgage, auto, student loans is 14 days
v3
- all HELOCs, if identified as such, or accounts indicating "mortgage" in the trade line description, are excluded from revolving utilization
- inquiry deduplication period for mortgage, auto, student loans expanded to 45 days
v8
- collections under $100 aren't considered
- util weighs more heavily for many consumers than with older models
- if the only delinquencies are occasional low level lates, and there are no serious or frequent delinquencies, the lates will have less of an impact for many consumers than with older models.
-Barry