Fico 8 vs Fico 9

[joeyv1985]

All,

What's the biggest difference between these 2? I apologize if this was a topic that's been already discussed. 

Cheers. 

[SouthJamaica]

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@joeyv1985 wrote:

All,

What's the biggest difference between these 2? I apologize if this was a topic that's been already discussed. 

Cheers. 

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Possible differences between FICO 9 & FICO 8:
-paid collections not counted in 9
-unpaid collections given more weight in 9
-medical collections given less weight in 9
-rental history counted in 9
-recent inquiries given less weight in 9
-average age of accounts given less weight in 9
-no. of accts reporting balance given more weight in 9
-premium for open as opposed to closed installment loans reduced in 9
-installment loan utilization percentage given more weight in 9
-9 more sensitive to revolving utilization

[donkort]

My FICO 9 was lower than my FICO 8 when I had high credit card utilization.  This was the only thing that was keeping my scores down.

My FICO 9 is now higher than my FICO 8 now that my credit card utilization is much reduced.

[Revelate]

Recent history is weighed even more in FICO 9.

Old negatives are close to irrelevant, even recent inquiries are much larger outsized impact than ever before based on my data.  Actually inquiry aging might be a thing under FICO 9 but I don't think we have enough data to state that one way or the other, FICO 9 unfortunately is only from the full pulls here or a few monthly score things none of which make for good analysis.

[joeyv1985]

Thank you SouthJamaica. 

The reason why I ask, is my Fico 9 score on the Wells Fargo app, jumped to 746 from 723 today. 

It's always lagged my CS on Exerpian, Credit Carma, Credit Sesame, etc. Currently the CS on the WF app sits at the top compared to the aforementioned reporting websites. Good news in an otherwise crummy week IMHO.

[joeyv1985]

Donkort,

I think that's what may have happened to me. 

[dryanaz80]

And I just got MyFICO 9 from Wells and score dropped 3 pts despite increasing 2-5 pts throughout the week with FICO 8 across all 3.