These are the main differences between 08 and 04.
Payments: FICO 8 is more lenient toward the rare missed payment. A one-time mis-happening in terms of delinquency doesn't penalize the score as much compared to previous models The flip side is that if that happens quite often they actually get penalized more than in the prior versions
In addition, FICO 8 ignores small debts in collections and public record items that have an original balance of less than $100.
Credit usage: The new FICO score is more sensitive to high credit usage than earlier models. In other words, if you max out your cards, your FICO score will lose more points than it would have in the past.
Authorized users: If you're an authorized user and don't have a legitimate relationship to the primary cardholder, such as husband and wife, your FICO score might not benefit. FICO 8 minimizes any score inflation caused by the controversial practice of piggybacking as an authorized user on the seasoned credit account of a stranger. Duque-Ribeiro says that FICO 8 uses "a methodology that allows us to be still compliant from a regulatory perspective, but actually make sure that the folks that are trying to do that don't get the benefits of lining up on the back of a consumer's good credi
Only the CO would impact the AAoA. Collections and PRs are not calculated into that.
