topic Re: How Common Are FICO 9 and 10 Now? in Understanding FICO® Scoring

How Common Are FICO 9 and 10 Now?

EW800 — Sun, 31 Mar 2024 19:57:54 GMT

I assume that other than mortgage pulls, FICO 8 is still the most common score to be used by lenders. If that is correct, I am just wondering how common 9 and 10 are now. Do either of them appear to be getting close to FICO 8 popularity or have a chance of becoming "the norm" in the next couple of years?

Thanks!

Re: How Common Are FICO 9 and 10 Now?

Anonymalous — Mon, 01 Apr 2024 12:47:35 GMT

Is even a single lender using FICO 10?

The FHFA has authorized FICO 10T and Vantage Score 4.0 to replace the old mortgage scores, but they're still in the comment phase.

Re: How Common Are FICO 9 and 10 Now?

Horseshoez — Mon, 01 Apr 2024 13:58:40 GMT

@Anonymalous wrote:
Is even a single lender using FICO 10?

The FHFA has authorized FICO 10T and Vantage Score 4.0 to replace the old mortgage scores, but they're still in the comment phase.

I'm in the process of applying for a mortgage right now and I wish 10T was already being used; as of earlier this month my scores looked like this:

Mortgage 5/4/2:
- EQ: 754
- TU: 756
- EX: 792
Fico 10T:
- EQ: 811
- TU: 805
- EX: 817

Re: How Common Are FICO 9 and 10 Now?

CreditPoor — Mon, 01 Apr 2024 17:47:58 GMT

I have yet to find a single lender that has adopted FICO10 or FICO10T. As it stands, lots of lenders aren't even using FICO9 and instead use older models. FICO 9 is however catching steam and a lot more lenders are starting to come around and adopt it.

Re: How Common Are FICO 9 and 10 Now?

FicoMike0 — Mon, 01 Apr 2024 22:50:12 GMT

This might be a silly question, but how do we know which model they use? I was just approved for a usb altitude connect card. I checked and they did a hard pull on tu. I didn't see anywhere which score they used or what value they got. Am I missing something?

Re: How Common Are FICO 9 and 10 Now?

Zoostation1 — Tue, 02 Apr 2024 02:07:02 GMT

@FicoMike0 The thread below was being updated regularly, but due to a change in the forum rules for editing posts it's no longer being updated.

https://ficoforums.myfico.com/t5/General-Credit-Topics/Which-Report-Will-They-Pull-Part-2/m-p/6379773

Re: How Common Are FICO 9 and 10 Now?

dunn2500 — Fri, 05 Apr 2024 04:09:48 GMT

@FicoMike0 wrote:
This might be a silly question, but how do we know which model they use? I was just approved for a usb altitude connect card. I checked and they did a hard pull on tu. I didn't see anywhere which score they used or what value they got. Am I missing something?

I would see what my score was based of the pull and match it with corresponding score model

so say they pulled experian and my score was 792, I would check my current scores to see which model came back @ 792 or within a few points

Re: How Common Are FICO 9 and 10 Now?

PepsterinBklyn — Fri, 05 Apr 2024 08:43:23 GMT

What's your Vantage 4?

Re: How Common Are FICO 9 and 10 Now?

FicoMike0 — Fri, 05 Apr 2024 14:06:26 GMT

Horseshoz,

I don't have access to 10t , but I've noticed an increasing trend with the fico version number. Eg,

Tu fico4 766

Tu fico8 812

Tu fico9 832

Reason codes similar, mostly about age of credit.

I don't expect much effect from trending, my utilization is always under 10%.

Re: How Common Are FICO 9 and 10 Now?

Horseshoez — Fri, 05 Apr 2024 14:19:46 GMT

@FicoMike0 wrote:
Horseshoz,
I don't have access to 10t , but I've noticed an increasing trend with the fico version number. Eg,
Tu fico4 766
Tu fico8 812
Tu fico9 832
Reason codes similar, mostly about age of credit.
I don't expect much effect from trending, my utilization is always under 10%.

Your TU scores are a bit above mine (for the moment):

MORT 4: 756
FICO 8: 792
FICO 9: 806
FICO 10: 792
FICO 10T: 805

It looks like my MLO is going to do a hard pull on my credit next week so I expect my numbers to take a hit.

Re: How Common Are FICO 9 and 10 Now?

FicoMike0 — Fri, 05 Apr 2024 20:35:14 GMT

I just had a hard pull on tu and a new youngest account last week, so I expect a hit as well. Good luck with the mortgage app😃😃

Re: How Common Are FICO 9 and 10 Now?

FicoMike0 — Sat, 06 Apr 2024 01:09:38 GMT

Horseshoz,

if it makes you feel any better, it looks like you beat me on experian,

ex fico2 768

Ex fico3 754

Ex fico8 793

Ex fico9 823

For some reason credit.com can't get my eq. Of course there's no prize.

Re: How Common Are FICO 9 and 10 Now?

Horseshoez — Sat, 06 Apr 2024 01:31:35 GMT

@FicoMike0 wrote:
Horseshoz,
if it makes you feel any better, it looks like you beat me on experian,
ex fico2 768
Ex fico3 754
Ex fico8 793
Ex fico9 823
For some reason credit.com can't get my eq. Of course there's no prize.

It's okay, you still have me beat by a few points.

Re: How Common Are FICO 9 and 10 Now?

Thomas_Thumb — Sat, 06 Apr 2024 04:18:50 GMT

@FicoMike0 wrote:
I just had a hard pull on tu and a new youngest account last week, so I expect a hit as well. Good luck with the mortgage app😃😃

If your prior youngest revolving account is under 12 months age, you likely won't lose points for the new youngest account. Of course, the HP is a separate factor.

Re: How Common Are FICO 9 and 10 Now?

SouthJamaica — Sat, 06 Apr 2024 11:44:28 GMT

@Thomas_Thumb wrote:
@FicoMike0 wrote:
I just had a hard pull on tu and a new youngest account last week, so I expect a hit as well. Good luck with the mortgage app😃😃
If your prior youngest revolving account is under 12 months age, you likely won't lose points for the new youngest account. Of course, the HP is a separate factor.

... and the lowered average age of accounts.

Re: How Common Are FICO 9 and 10 Now?

FicoMike0 — Sun, 07 Apr 2024 00:42:14 GMT

thanks, guys. Previous youngest revolver was 4 months, so no problem there. Average age showed 57 months on eq, 34 months on the other two, on eight accounts. By my cypher'in the 34 will go to 30. I seem to be getting a lot more age credit from eq on a closed account. I'll have to check the report. The hp is just on tu, which already has the most, but it's my middle score.

Id like to see my low fico8, 793 on ex, climb above 800. I suppose it will, if I can stay in the garden awhile. There's no prize anyway.

Re: How Common Are FICO 9 and 10 Now?

mgood — Sun, 07 Apr 2024 21:35:53 GMT

I know PenFed uses Eq 9.

Seems like one of my other creditors uses 9, but I can't think of which one at the moment.

I don't know of any using 10 or 10T.

Re: How Common Are FICO 9 and 10 Now?

dunn2500 — Mon, 08 Apr 2024 00:50:44 GMT

@mgood wrote:
I know PenFed uses Eq 9.
Seems like one of my other creditors uses 9, but I can't think of which one at the moment.
I don't know of any using 10 or 10T.

Navy used a version of fico 9 for me as well as pen fed....I forgot which one it was but the score cam back identical to Fico 9 i remember

Re: How Common Are FICO 9 and 10 Now?

Barkius — Fri, 12 Apr 2024 20:13:33 GMT

FNBO uses FICO bankcard score 9

Re: How Common Are FICO 9 and 10 Now?

FicoMike0 — Fri, 12 Apr 2024 21:03:23 GMT

Any idea which bureau they pull?