topic Re: Different FICO scores in Understanding FICO® Scoring

Different FICO scores

Anonymous — Sat, 12 Mar 2022 16:18:10 GMT

Would someone mind breaking down the different FICO scores for me, please? Like FICO score 2, FICO bank card score 8, FICO auto score 8, etc.? I guess not so much what each of them mean, but WHY there are different FICO scores? And is there one that's more important than the rest?

Re: Different FICO scores

MasonK — Sat, 12 Mar 2022 19:33:14 GMT

This is a good place to start.

Read through this and it should be a good starting point for understanding all the different scoring models. If it sparks some other questions not covered, feel free to ask those, too.

Re: Different FICO scores

Anonymous — Sat, 12 Mar 2022 19:51:56 GMT

Will do! Thank you :-)

Re: Different FICO scores

SouthJamaica — Sat, 12 Mar 2022 21:13:47 GMT

@Anonymous wrote:
Would someone mind breaking down the different FICO scores for me, please? Like FICO score 2, FICO bank card score 8, FICO auto score 8, etc.? I guess not so much what each of them mean, but WHY there are different FICO scores? And is there one that's more important than the rest?

There are 28 different FICO scores covered in the MyFICO reports.

It's hard to say what's most important. It seems that FICO 8 and FICO 9 are the most common for credit cards and loans.

The scores almost universally used for mortgage applications are EX FICO 2, EQ FICO 5, and TU FICO 4. Sometimes these are used for credit card and personal loan applications as well.

Re: Different FICO scores

Anonymous — Sat, 12 Mar 2022 21:18:42 GMT

Thank you for the info!