@Anonymous wrote:FICO 8 is going up but FICO 2 is staying the same- why?
They're different scoring models with different algorithms. If you describe your credit profile at 2 points in time, we might be able to help you figure out the reason(s) that FICO 8 increased while FICO 2 stayed the same.
My experience in general has been that:
1. FICO 2 moves less frequently but in greater increments;
2. FICO 2 is more sensitive to inquiries, aging issues, and number of accounts reporting a balance;
3. FICO 8 is more sensitive to dollar utilization percentages.
@Anonymous wrote:Thank you- the response is helpful. The FICO 8 is going up due to decreased utilization being the factor as well as some collection paid off. Sounds like overtime the FICO 2 will move
Yes but they do not necessarily move in "sync".