Wish Lenders used FICO 9

[nmk94]

Got my latest 3B.

FICO 8

EQ 678 | TU 675 | EX 686

FICO 9

EQ 763 | TU 707 | 742

Huge difference in FICO 9 — and MUCH better.

Does anyone use FICO 9?

And my FICO 8 scores aren't just lower than FICO 9, they're lower than most of my other scores too. Mortgage and Auto also much better.

[dragontears]

Several popular credit unions use FICO 9 (navy, Penfed, etc), if I remember right wells fargo also uses FICO 9.

[Anonymous]

you're assuming that a 763 F9 carries the same weight as a 763 F8.. they may not share the same distribution of scores over their range, so lenders using them may have different criteria.

[Gladius]

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@nmk94 wrote:

Got my latest 3B.

FICO 8

EQ 678 | TU 675 | EX 686

FICO 9

EQ 763 | TU 707 | 742

Huge difference in FICO 9 — and MUCH better.

Does anyone use FICO 9?

And my FICO 8 scores aren't just lower than FICO 9, they're lower than most of my other scores too. Mortgage and Auto also much better.

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Not me.  My Fico 9 scores are 30-40 pts lower than 8!

[nmk94]

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@Anonymous wrote:

you're assuming that a 763 F9 carries the same weight as a 763 F8.. they may not share the same distribution of scores over their range, so lenders using them may have different criteria.

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Good point. 

[FlaDude]

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@Gladius wrote:

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Not me.  My Fico 9 scores are 30-40 pts lower than 8!

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My 9's are like the OP, solidly higher. I wonder if anyone here has any idea what factors more strongly in 9 than 8?

[guydiver]

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@dragontears wrote:

Several popular credit unions use FICO 9 (navy, Penfed, etc), if I remember right wells fargo also uses FICO 9.

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My free monthly Fico from Wells Fargo does say it's Fico v. 9 Experian

[dragontears]

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@FlaDude wrote:

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@Gladius wrote:

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Not me.  My Fico 9 scores are 30-40 pts lower than 8!

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My 9's are like the OP, solidly higher. I wonder if anyone here has any idea what factors more strongly in 9 than 8?

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I don't think anyone knows for sure but the theories I have read says:

9 puts more weight on recent events, especially credit seeking activity (new accounts and inquiries) than 8 does

9 ignors any paid collection unlike 8 which counts all collection over $100 even if they are paid. 

[newmomnewme]

I was going to post the same question this am. Who pulls 9 instead? My 9s higher because I have two paid collections that 8 can't ignore. 😂 My EX 9 isn't that awesome though...not sure why. 

[AndySoCal]

Here is a link that tells you what is different in FICO 9. It appears your credit profile is benefiting from those changes.https://www.nerdwallet.com/article/finance/fico-score-9