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Fico 9 help

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Valued Member

Fico 9 help

As expected, my scores vary greatly by model. My Fico 9 scores really need a boost. I’ve read a lot and see that in this version, paid collections will essentially be ignored. I have 2 unpaid collections within the last 2 years, both greater than $300. So, am I correct that paying these in full would boost my Fico 9? Has anyone had first hand experience with this? I will pay them anyway as soon as possible because I owe them, but I’d like to hear from someone who has seen a nice increase. Again, I’m specifically asking about Fico 9. Thanks!!
6 REPLIES 6
Valued Contributor

Re: Fico 9 help

I know you requested first-hand experience only, which is why I didn't reply sooner - but since I see you still have not received a response, im going to offer my 2cents:

Yes, FICO 9 ignores paid collections. From what I've seen from those in this forum that have posted data points of their profiles consisting of one or more paid collections, the FICO 9 scores have been significantly and consistently higher than FICO 8s.

While my assumption would be that your FICO 9s would benefit from paying your collections, I hope someone with first-hand experience will come along and share that with you - but, in the meantime, here's a post from someone that paid their last 2 collections and subsequently received a big increase in FICO 9:

https://ficoforums.myfico.com/t5/General-Credit-Topics/Fico-9-SUCCESS/m-p/5123571

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 01/2020: EX 767 ✦ EQ 742 ✦ TU 757
Current FICO 9s | 01/2019: EX 774 ✦ EQ 776 ✦ TU 766
Highest FICO-8 Ever | 10/2018: 780 [on dirty report]

2020 Goal Score | 790s


My AAoA: 2.11 years not incl. AU / 3.2 years incl. AU
My AoOA: 6.11 years not incl. AU / 8.11 years incl. AU
Inquiries: EX 0/6 | 3/12 ✦ EQ 0/6 | 4/12 ✦ TU 0/6 | 1/12
Report Status: Clean

Tending my Garden til 6/2020


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 2 of 7
Moderator Emeritus

Re: Fico 9 help

While it is absolutely true that FICO 9 discounts paid collections, I would note it still isn’t very prevalent in the current credit market.

I would still chase deletion rather paying them without that.



        
Message 3 of 7
Valued Member

Re: Fico 9 help

Thank you both for the replies. I’ve seen conflicting info on the score version NFCU pulls. However, it seems the latest consensus is that they pull Fico 9. This is where my main interest in this score comes into play. Hoping to get an auto refi through them in the near future. Thanks again!
Message 4 of 7
Valued Contributor

Re: Fico 9 help


@Djtcl5 wrote:
Thank you both for the replies. I’ve seen conflicting info on the score version NFCU pulls. However, it seems the latest consensus is that they pull Fico 9. This is where my main interest in this score comes into play. Hoping to get an auto refi through them in the near future. Thanks again!

Yes..  NFCU pulls FICO 9.  But they also rely heavily on relationship so if you haven't already begun building one with them, you should start now (a desposit account would suffice).   

Personal Aphorism:
"Forget What You Feel, Remember What You Deserve"


Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 01/2020: EX 767 ✦ EQ 742 ✦ TU 757
Current FICO 9s | 01/2019: EX 774 ✦ EQ 776 ✦ TU 766
Highest FICO-8 Ever | 10/2018: 780 [on dirty report]

2020 Goal Score | 790s


My AAoA: 2.11 years not incl. AU / 3.2 years incl. AU
My AoOA: 6.11 years not incl. AU / 8.11 years incl. AU
Inquiries: EX 0/6 | 3/12 ✦ EQ 0/6 | 4/12 ✦ TU 0/6 | 1/12
Report Status: Clean

Tending my Garden til 6/2020


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 5 of 7
Valued Contributor

Re: Fico 9 help


@thornback wrote:

@Djtcl5 wrote:
Thank you both for the replies. I’ve seen conflicting info on the score version NFCU pulls. However, it seems the latest consensus is that they pull Fico 9. This is where my main interest in this score comes into play. Hoping to get an auto refi through them in the near future. Thanks again!

Yes..  NFCU pulls FICO 9.  But they also rely heavily on relationship so if you haven't already begun building one with them, you should start now (a desposit account would suffice).   


^^^ This.

My fico9 is much lower than my 8.

Navy Fed has granted me $43k in unsecured CLs so far in less than a year.

My last fico9 was only 686.

It is ALL about building relationships with NFCU.

Rebuild started in 2014  -  $100k+ unsecured credit in 2017  -  $350k+ unsecured credit in 2020.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!

10% Rotating - Discover                       5%-20% - Amazon & Lowes                  3-6% Groceries - NFCU & Amex Preferred
3-5% Gas - NFCU & Ducks Unl            4% Dining & Entertain - Savor               3% Travel & Hotels - Flagship, Propel, & Uber
2% Everything Else - Flagship             1% Cancer Charity - Fifth Third             0% Finance Promos - Venture & QuickSilver





                           
           
Message 6 of 7
Valued Contributor

Re: Fico 9 help

All great advice.









(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated DEC'19.

In order to better answer your questions and record your DPs, please provide your profile stats: Any baddies? (clean/dirty), Number of accounts open and closed on CRs (thick/thin), AoOA? (aged/nonaged), AoYR-Age of Youngest Revolver (new accounts/no new accounts)? Open/closed loan on CR?
For example, mine is clean/thick/aged/new accounts, with open loan on record.
If you don't know where you fall, just list whether you have any baddies, your number of open and closed accounts, AoOA, AoYR and whether you have a loan on record.
For utilization questions, list individual and aggregate utilizations, revolving and installment. please.
Message 7 of 7
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