Myfico TU now FICO 8 Risk Score - confirmed!

[BootStraps]

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@patrick00032001 wrote:

Thank you so much for following up on that! I would never lie to anyone on these forums, just wanted to be helpful! And as I suspected, I was right, well, this will save me money, because now I can get my score from Wal-Mart or Discover and know its going to match this site! Now if I want to read my bureau, then I can always order a new report of course!

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You are very welcome!

I'm suprised that there is no announcement on the website about it. Maybe it'll happen later.

[peepers]

ahhh, so now I can cancel my myfico quarterly monitoring service. I have a Discover now, and can do daily 3 bureau reports from USAA to monitor activity! Im not sure why it took reading this thread to make me realize that......but thanks!

[Anonymous]

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@mongstradamus wrote:

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@BootStraps wrote:

Out of cusiosity, I just gave MyFICO customer service a phone call.

According to the young man I spoke to, they just upgraded to 08 on the 30th.

It would appear that the OP is correct.

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I guess that is nice for people who don't have access to discover Barclay or Walmart card . I would have to imagine that's an pretty small fraction of population 

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Well, don't know if it is a small fraction, but it's good in that people will not waste money buying a TU'98 here!  To all intents and purposes, that was a FAKO. 

[patrick00032001]

It was VERY aggravating at times when they wouldn't update to TU 04 Classic! We are talking about a scoring model that was well over 16 years old being utilized for educational purposes, (TU98). I have a feeling lenders all over the counrtry are shifting towards the (08) Classic model and Myfico is trying to keep up with the trends so to speak? It is a requirement for secondary mortgages, such as, Fannie Mae (FNMA) and Freddie (FMCC) to utilize TU 04 Classic, Equifax Beacon 5.0 and Experian Fair Issac V2 scoring for resale purposes. My lender kept my mortgage on their books, even though it was considered Approve/Eligable through FNMA, because my rate was 3.875%, and once my construction loan was completed and converted to a permanent fixed rate mortage, (One Time Close) rates had went up by .50 points or higher, and my credit union would have had to pay Fannie Mae to purchase my mortage from them. For now, its staying on their books, if rates creep back down in the near future, it will be sold, and my credit union will retain the servicing.

[ddemari]

My TU fico dropped 40 points since last week and there is nothing different on my report. Now that I know that they changed the scoring model, it makes sense... but I am still upset! 40 points overnite! 

[Revelate]

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@BootStraps wrote:

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@patrick00032001 wrote:

Thank you so much for following up on that! I would never lie to anyone on these forums, just wanted to be helpful! And as I suspected, I was right, well, this will save me money, because now I can get my score from Wal-Mart or Discover and know its going to match this site! Now if I want to read my bureau, then I can always order a new report of course!

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You are very welcome!

I'm suprised that there is no announcement on the website about it. Maybe it'll happen later.

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After the snafu last time, so am I.  

[Revelate]

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@Anonymous wrote:

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@mongstradamus wrote:

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@BootStraps wrote:

Out of cusiosity, I just gave MyFICO customer service a phone call.

According to the young man I spoke to, they just upgraded to 08 on the 30th.

It would appear that the OP is correct.

---

I guess that is nice for people who don't have access to discover Barclay or Walmart card . I would have to imagine that's an pretty small fraction of population 

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Well, don't know if it is a small fraction, but it's good in that people will not waste money buying a TU'98 here!  To all intents and purposes, that was a FAKO. 

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I'd rather have a TU '98 score here even if I didn't have a Wally card: I'm pretty confident for my use case (mortgage) that it's a closer predictor of my scores than any FICO 8 pull.

Oh well, on the bright side if this is the case I can uncomplicate my signature line.

[snugglebug]

And here I was thinking how great my rebuilding was going after seeing a 25 point jump on TU from my pull the other day!! Makes sense now, but eh, I'll take it!

[alvon123]

Thanks for the info

[EW800]

This is very interesting.  I wonder if everyone was switched all at once?

If this change was made, sure does seem like there would have been an announcement about it.