topic Re: Differences in Fico 9 compared to Fico 8 in Understanding FICO® Scoring

Differences in Fico 9 compared to Fico 8

CreditBob — Fri, 25 May 2018 11:13:07 GMT

I noticed two things in the Fico 9 model. One, that it dings your score at least three times more, compared to the model 8, for having more of a revolving balance. Two, it raises the score more the closer your credit cards are to a zero balance. And lastly, Wells Fargo Bank uses the model 9.

So this tells me that either have very low balances or your cards played pff in full before you apply for new credit.

Anyone else like to add which other financial institutions use the fico 9?

Re: Differences in Fico 9 compared to Fico 8

Anonymous — Fri, 25 May 2018 09:16:32 GMT

@CreditBob wrote:
I noticed two things in the Fico 9 model. One, that it dings your score at least three times for having more of a revolving balance. Two, it raises it more the closer your credit cards are to a zero balance. And lastly, Wells Fargo Bank uses the model 9.

FNBO also uses it. Checked my score this morning and they used EX FICO 9.

Re: Differences in Fico 9 compared to Fico 8

pipeguy — Fri, 25 May 2018 11:53:44 GMT

My Fico 9 scores are universally lower than Fico 8 - I'm not looking for any new credit and I just refinanced the house at a great rate, so I really don't care but it does seem strange even if there is no effect on my availability for credit options.

Re: Differences in Fico 9 compared to Fico 8

Gmood1 — Fri, 25 May 2018 12:11:55 GMT

@Anonymous wrote:
@CreditBob wrote:
I noticed two things in the Fico 9 model. One, that it dings your score at least three times for having more of a revolving balance. Two, it raises it more the closer your credit cards are to a zero balance. And lastly, Wells Fargo Bank uses the model 9.

FNBO also uses it. Checked my score this morning and they used EX FICO 9.

Looks like FNBO has upgraded to FICO 9 Bankcard EX from FICO 8 Bankcard. Not the same as the standard FICO 9 scoring model.

Re: Differences in Fico 9 compared to Fico 8

Gmood1 — Fri, 25 May 2018 12:33:05 GMT

@CreditBob wrote:
I noticed two things in the Fico 9 model. One, that it dings your score at least three times more, compared to the model 8, for having more of a revolving balance. Two, it raises the score more the closer your credit cards are to a zero balance. And lastly, Wells Fargo Bank uses the model 9.

So this tells me that either have very low balances or your cards played pff in full before you apply for new credit.

Anyone else like to add which other financial institutions use the fico 9?

Not in every case. All of my FICO 9 scores are higher than FICO 8. EQ alone there's a 35 point difference in favor or FICO 9. My files are spotless. No baddies, no lates, nothing negative.

Re: Differences in Fico 9 compared to Fico 8

Thomas_Thumb — Sat, 26 May 2018 17:36:13 GMT

Fico 8 may be giving you demerits for too many accounts.Fico 9 appears to be more lenient.

Pasted below are score shifts: Fico 8 <=> Fico 9 for a TransUnion test study population:

My Fico 9 scores (industry enhanced BC version) are always lower than my Fico 8 counterparts. That's generally true for the Auto versions as well but, not always. No real difference between Classic Fico 8 and Classic Fico 9.

[Note: Classic Fico 9 added a 13th scorecard for further segmentation of revolving credit into high vs not high utilization]

Re: Differences in Fico 9 compared to Fico 8

Thomas_Thumb — Sat, 26 May 2018 17:46:08 GMT

Note the reduction in top tier scores for thin files (Fico 9 compared to Fico 8).

Re: Differences in Fico 9 compared to Fico 8

surferchris — Wed, 30 May 2018 02:02:21 GMT

Thanks for the great info!