@Anonymous wrote:Question,
I am trying to help a buddy clean up his credit so he can buy a house. The mortgage company pulled a fico 2 score on him and it was 516. However his fico 8 is like 570. I told him he needed at least a 620. So here is my question.. When a fico 8 score jumps lets say 15-20 points do the other scoring models follow suit with the same score jump?
No they do not. Totally different algorithms.
Now here's the answer to the question you did not ask -- how your friend can improve his FICO 2 scores.
1. Not apply for any new credit or anything that could trigger a hard pull.
2. Send verification letters to the credit bureaus to try to get rid of negatives.
3. Reduce reported revolving balances. The more zero balances the better.
