Showing results for 
Search instead for 
Did you mean: 

who is still using old FICO models?

Super Contributor

who is still using old FICO models?

I applied recently for my first Cap One card (the Savor) and was surprised to see that they used the old FICO 04 model (drawn on EQ) rather than FICO 8 or 9.  Not wildly surprised, just mildly.


Does anyone know of any other big lenders or CC issuers that use FICO 04 or earlier?   Wells Fargo was one, but they transitioned to FICO 9 last year I think.


FICO 9 was released 4.5 years ago, and FICO 8 was released ten years ago, so you'd think that we'd be getting to the place where most banks would have moved to one or the other of them.


PS.  I am omitting from consideration mortgage loans, since lenders in effect don't have an option there.  They have to use the models  mandated by Fannie Mae, which are FICO 04 (TU and EQ) and FICO 98 (EX).

Message 1 of 16

Re: who is still using old FICO models?

US Bank pulled TU 04 for my Cash+ card in 2017, which was the norm. However, I got their Altitude Reserve in November and don’t recall ever receiving a truth in lending notice with the score disclosure. They pulled Experian instead of TU. Since the card only has one APR for everyone and I was approved, technically they didn’t have to furnish that.
Message 2 of 16
Valued Contributor

Re: who is still using old FICO models?

I think as consumers we tend to think of the new models as better. A banks appetite for risk tends to determine when and if they move to a “new” model. A newer model may add more or less weight to a factor that does not align with how the bank wants to assess risk.


i read that FICO 9 (I think) places less weight on medical debt vs. other type of debt. That’s just an example. Bank A might decide they don’t like that and stick with a previous model.

Message 3 of 16
Super Contributor

Re: who is still using old FICO models?

Hey CGID!  While not the correct [scoring] forum here, I was just curious about the addition of your new account and its impact on your scores.  What was your AoYA prior to the new account?  I got the impression that didn't app often and that perhaps your AoYA was high, so it's always interesting to hear about the impact of a new account.  No doubt you also took the standard triple HP from Cap One.

Message 4 of 16
Super Contributor

Re: who is still using old FICO models?

My AoYA was 13 months when my EQ mortgage score was almost perfect (817).


My AoYA was 22 months when my EQ mortgage score had taken the big plunge.  That was a couple weeks ago. 


My AoYA is still 22 months, since the Cap One card has not yet appeared on my reports.  I just pulled my reports on Karma and reconfirmed that.


The big drop, as far as I can understand it, has to do with the much greater number of accounts reporting a positive balance.  Total util is still 1-3% and individual util is < 8% for all revolving accounts both when the score was near perfect and after it had dropped.  My AAoA and AoOA had increased so that was certainly not the cause of the drop.

Message 5 of 16
Community Leader
Senior Contributor

Re: who is still using old FICO models?

From time to time, it pops up in the credit card discussions that Capital One uses an old Equifax score. Was this the classic FICO 04 or the bankcard version?

Message 6 of 16
Super Contributor

Re: who is still using old FICO models?

Classic EQ 04

Message 7 of 16
Senior Contributor

Re: who is still using old FICO models?

Elan (Fidelity Visa) was using TU 04 at the end of 2017. Can't say if things changed since.

Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
Message 8 of 16
Frequent Contributor

Re: who is still using old FICO models?

I'm not sure it's indicative of what WyHy uses to make credit decisions but according to their site they provide TU 04 score to their members.

Do the credit unions that provide mortgage scores usually use them when applying for credit?

Message 9 of 16
Valued Contributor

Re: who is still using old FICO models?

Nice topic CGID!  I have also wondered about creditors that just don't seem to want to move to much more recent FICO scores, wondering if for whatever reason they do not have as much confidence in the new scores in their particular environment, perhaps internal costs involved in making such a change or wanting to keep everything on a level playing field.  


I know it takes many years for a new model to catch-on, however sometimes I feel like FICO 9 really has not caught on all that well..  I very well could be wrong, but just a personal observation.  



Year 2012: All Scores in the 520 range, during a foreclosure, CC Settlement and high UTIL. Very ugly days...
Jan 2021: EX8: 850; EQ8: 850; TU8: 850 -- Middle Mortgage Score: 824
In My Wallet: Discover $73.7K; Cap1 Venture $42.7K; Amex ED $38K; Amex Optima $2.5K; Amex Delta Gold $18K; Citi Costco $21K; Cap1 Plat $8.4K; Barclay $7K; Chase Amazon $6K; BoA Plat $21.6K; Citi TY Pref $19K; US Bank $4K; Dell $5K; Care Credit $6.5K. Total Revolving CL: $285K
My UTIL: Less than 1% - Only allow about $10 a month to report, on one account. .
Message 10 of 16
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.