FICO 9

[CashBackQueen]

I wonder if lenders are going to start using FICO 9 more anytime soon? With this version, I am only TWO points away from 700 

[Iusedtolurk]

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@CashBackQueen wrote:

I wonder if lenders are going to start using FICO 9 more anytime soon? With this version, I am only TWO points away from 700 

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You never know. I wouldn't mind if they did because all my Fico 9 scores are higher than my other scores (classic, auto,bankcard,mortgage).

[newmomnewme]

@CashBackQueen  Some lenders are already using 09. Navy Federal TU 09, PenFed EQ 09 and I think Wells Fargo EX 09. 

I prefer 09 as well. Someone stated that 09 doesn't count paid collections against you. I have two CA and my 08s are 3-20 pts lower that my 09s. More lenders need to come around!! 

Best of luck on your journey to 700! 

[ccquest]

Doubtful, if they haven't switched already it's probably because of the cost or the lack of significant difference. I'd think 10 with the trend information might be big enough to justify changing systems if they really found any issues with 8 for their purposes.

[dumaine]

PNC gives a monthly Fico 9 EX report so I guess they are using it. Looks like my EX 09 is about 15 points  or so less than my EX 08

[Anonymous]

My 8s and 9s have always been very close.  I found 9s a little harder to max out on the top end than 8s.

[Anonymous]

My F9's are about 60pts higher than my 8's, but then again, my 8'a are actually my lowest scores. 

[Anonymous]

I guess when discussing these scores relative to one another it would make the most sense to state the 3 basics about your file such as clean/dirty, thick/thin, aged/young for comparison purposes.

For example, my 8s ran [slightly] higher than my 9s on a clean/thick/aged file.  The 9s finally caught up after my 8s maxed out.

[Anonymous]

Agreed. My file is dirty/thick/aged. My 8 delinquencies are 90 day late student loan payments. They  should fall off <12 months. Not to get too much in the weeds but I lost about 25 points on F8 when I deleted an au account. The reason given was not enough accounts paid on time. I think my 9's are somewhat similar to my mortgage scores- limiting the # of accounts with balances and inquiries helps those scores a lot. 

[Anonymous]

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@newmomnewme wrote:

@CashBackQueen  Some lenders are already using 09. Navy Federal TU 09, PenFed EQ 09 and I think Wells Fargo EX 09. 

I prefer 09 as well. Someone stated that 09 doesn't count paid collections against you. I have two CA and my 08s are 3-20 pts lower that my 09s. More lenders need to come around!! 

Best of luck on your journey to 700! 

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@newmomnewme that's true version 9 does not count paid collections and medical collections are weighted less. Version 8 does not count collections under $100.

when discussing the changes we should also discuss the fourth segmentation Metric: new account or no new account. 

And for dirty Accounts, they should be described as: recent delinquency, mature delinquency, recent PR, or mature PR Scorecard, I believe.

Thick/thin, young/mature, and new account/no new account do not apply to scorecard assignment for dirty cards.