FICO® Score 8 different across 3 bureaus

[Anonymous]

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@patoot10 wrote:

I never bothered about Fico 9 since very few lenders use it but in the instances were I encountered my FICO 9 score it was much higher than my FICO 8 which means that FICO keeps getting more forgiving with every new version. FICO 2,3,5 are almost always lower than 8.

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While your FICO 9 scores are higher than your FICO 8 scores, that doesn't mean that FICO is getting more forgiving with each new version.  There are plenty of people out there who have FICO 8 scores that are greater than their FICO 9 scores; I am one of them, where my FICO 9 scores are 4, 9 and 10 points lower than my FICO 8 scores when I'm at AZEO.  If I go to all cards with balances, the variances go as wide as my FICO 8 being 21 points higher than my FICO 9 on EX.

[Anonymous]

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@Trudy wrote:

BBS can answer your question about EQ and # of accounts reporting.  But my  understanding is # of accounts reporting is for all accts, revolvers and installments.

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You are correct in that all account types are considered.  See the image below, where when I'm at 2 of 8 (25%) total accounts with a balance I experienced no ding on EQ, but when moving to 3 of 8 (38%) of my total accounts with a balance on EQ I experienced a 4 point ding.  This is with one installment loan with a [non-zero] reported balance by default and going from 1 --> 2 revolvers with a reported balance.

[mcrosby37]

I congratulate everyone that seems to love FICO. FICO for some reason hate me(lol). My FICO9 is 100 pts lower than my FICO8. I will be honest to say that I have horrible scores across the board. I have tried everything to rebuild my credit and yet FICO only gives a few points. How can I get into the high 600's or 700's when FICO only reward me with 2pts. VantageScores rewards me better than FICO. Example: One of my accounts had a balance of $265 which I paid it off to $0, but still open and VantageScore rewarded me 18pts whereas FICO rewarded me 4pts. Every time a balance is decreased FICO only give me 2-4pts increase whereas VantageScore gives me 10-20pts increase. I do believe there are some creditors starting to look at VantageScores rather than FICO. I wish creditors start using VantageScores rather than FICO. Something isn't right with FICO scoring system. If I were a creditor I would only look at VantageScores to make my decisions. Who disagrees and explain why?

[patoot10]

^^

I have to disagree with you. Vantage punishes churning actions specially new accounts and penalize you for inquires as long as they are on your report where FICO discards them from the math after 1 year. The only way to achieve a high vantage is to have a report that doesn't get any extra pieces of info but just ages. However, if you try that with FICO you will hit a wall of max score you can get since you don't have a thick file.

In your case it seems you have a bunch of deragatory marks and even if you pay them off as long as they show FICO will be low which makes sense. Maybe Vantage is more forgiving with negative items hence why it's higher.

[mcrosby37]

You are right. I forgot about that. Vantage does drop your score quickly when you get just 1 inquiry. I remember getting 3 inquiries at one time and my FICO didn't drop. Guess both have advantages and disadvantages. I have several chargeoffs dating back in 2013, nothing recent and also 6 collections mostly medical most recent earlier this year but the others are 3 to 5 yrs old. However, I do have 15 pays as agreed accounts (10 open and 5) close. I tried credit repair but they are sticking like glue. If you have perfect credit make sure you keep it that way. I'm trying to get where everybody scores at but its dragging and depressing. My utilization was 95% now it is 59%.

[mcrosby37]

Hopefully, my MJC and DSX Design with a combined limit of $10000 will cut into my 59% utilization when it reports.

[Anonymous]

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@mcrosby37 wrote:

My utilization was 95% now it is 59%.

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That's a great step in the right direction, having crossed 2 known utilization threshold points (88.9%, 68.9%).  You still have 3 more to go though, at 48.9%, 28.9% and 8.9%.  Crossing each of those thresholds will gain you at least 10 points, likely more like 15 or on some profiles up to 20 on your FICO scores.  That being said, you've got probably around 45 points on the table available for getting your utilization to an ideal spot, so that should definitely be the focus.