topic Re: FICO "Classic" 08 Model?? in Understanding FICO® Scoring

FICO "Classic" 08 Model??

gorgon — Tue, 17 Nov 2020 14:14:43 GMT

Was looking at rates for refinancing my vehicle loan and came across this in the fine print - "Minimum 670 credit score (TransUnion FICO Classic 08 model)."

Is that just the standard FICO 8? Why the 'Classic' notation?

Re: FICO "Classic" 08 Model??

OmarR — Tue, 17 Nov 2020 16:21:59 GMT

Wherever you were looking, they probably use the CLASSIC (standard, as you said) model, as opposed to AUTO, MORTGAGE, BANKCARD, etc. scores. Yes, there are multiple different "8" scores, as you may or may have not already known.

Re: FICO "Classic" 08 Model??

SouthJamaica — Tue, 17 Nov 2020 16:43:16 GMT

@gorgon wrote:
Was looking at rates for refinancing my vehicle loan and came across this in the fine print - "Minimum 670 credit score (TransUnion FICO Classic 08 model)."

Is that just the standard FICO 8? Why the 'Classic' notation?

Yes, that is the term for the standard FICO 8... as opposed to the 'Industry Enhanced' models.

Re: FICO "Classic" 08 Model??

Anonymous — Wed, 18 Nov 2020 01:28:29 GMT

"Classic Fico 8" is the real name, or sometimes "Score 8" is used. On this forum those words have been omitted for the most part since 99 out of 100 times when someone says "Fico 8" that is what they're referring to. It's definitely the most popular. Anyone that references a F8 score without anything else in front of it (BCE, auto) is definitely talking about their Classic 8 score.