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Fico 9 is 67 points lower than Fico 8

iizshawn
Member

Fico 9 is 67 points lower than Fico 8

I noticed that my bank Navy Fed uses my Fico 9, but what is concerning is that my Fico 8 is at a 779 but my Fico 9 is at a 712.

 

I have no collections or late payments. I'm also not seeking credit. The last hard pull I had was on November 24, 2018, for a car loan. I have 8 CC's with only two that have a balance putting me at a revolving credit at 37% I have no medical bills since everything is paid for through Tricare. The only thing I can think of is that I'm getting dinged for is the length of credit history and utilization. My oldest card is 15.3 years, but my average is 6.3 years. This coming month My revolving credit will be under 30% From everything I've read, I would assume my Fico 9 would be higher since Fico 8 focuses more on utilization. It is disheartening to see that my bank is using the Fico 9 score. Do you have any ideas on why the scores are so far apart?

50 REPLIES 50
Dogbert
Valued Contributor

Re: Fico 9 is 67 points lower than Fico 8


@iizshawn wrote:

I noticed that my bank Navy Fed uses my Fico 9, but what is concerning is that my Fico 8 is at a 779 but my Fico 9 is at a 712.

 

I have no collections or late payments. I'm also not seeking credit. The last hard pull I had was on November 24, 2018, for a car loan. I have 8 CC's with only two that have a balance putting me at a revolving credit at 37% I have no medical bills since everything is paid for through Tricare. The only thing I can think of is that I'm getting dinged for is the length of credit history and utilization. My oldest card is 15.3 years, but my average is 6.3 years. This coming month My revolving credit will be under 30% From everything I've read, I would assume my Fico 9 would be higher since Fico 8 focuses more on utilization. It is disheartening to see that my bank is using the Fico 9 score. Do you have any ideas on why the scores are so far apart?


8 cards, two with balances.... whats the util% rate on those individual cards?  

 

I'm in the same "FICO9 hates me by 69 points" boat, btw... 

 

What are the two "key factors" listed on your FICO 9 score on NFCU?  

Should say "Key Factors Impacting Your [date] FICO® Score"

 

  
  
---- NAILED IT!

Message 2 of 51
Trudy
Valued Contributor

Re: Fico 9 is 67 points lower than Fico 8

Do you have any rental information reporting?  Also are you comparing the same bureau's with the same "score as of" date?

FICO - 8: 05/07/21 AU 8 BC 8
FICO - 9: 05/07/21 AU 9 BC 9
F5,F4,F2 05/07/21 AU... BC...
Vantage 05/07/21
As of 05/01/21:
AoOA - 25Y2M | AoYA – 0Y6M | AAoA – 12Y0M
Open: 11 CC: (1 reporting 8.02% : 0.25% AGG UTL) | 1 PLOC | 1 MTG loan: 58.15% UTL
Closed: 1 MTG loan | 2 Auto loans | (EQ) 2 CC, (EX & TU) 1 CC
INQ: (EQ) 0/24 | (TU) 2/24 | (EX) 1/24
Message 3 of 51
SouthJamaica
Super Contributor

Re: Fico 9 is 67 points lower than Fico 8


@iizshawn wrote:

I noticed that my bank Navy Fed uses my Fico 9, but what is concerning is that my Fico 8 is at a 779 but my Fico 9 is at a 712.

 

I have no collections or late payments. I'm also not seeking credit. The last hard pull I had was on November 24, 2018, for a car loan. I have 8 CC's with only two that have a balance putting me at a revolving credit at 37% I have no medical bills since everything is paid for through Tricare. The only thing I can think of is that I'm getting dinged for is the length of credit history and utilization. My oldest card is 15.3 years, but my average is 6.3 years. This coming month My revolving credit will be under 30% From everything I've read, I would assume my Fico 9 would be higher since Fico 8 focuses more on utilization. It is disheartening to see that my bank is using the Fico 9 score. Do you have any ideas on why the scores are so far apart?


Recently after reduced my revolving utilization a bit, my EQ FICO 9 -- as reported on NFCU website -- went down instead of up, even though all my other scores of course went up.

 

I concluded that it has to do with FICO 9's special additional scorecard for high utilization, which none of the other scoring models have. I.e., by lowering my utilization I came off of that scorecard and am now back on my regular scorecard, where my still-higher-than-I-would-like revolving utilization doesn't look so good.

 

Of course this is just a theory. It doesn't make a whole lot of sense to me.


Total revolving limits 653000 (575000 reporting) FICO 8: EQ 716 TU 747 EX 715

Message 4 of 51
iizshawn
Member

Re: Fico 9 is 67 points lower than Fico 8

This may also be the reason for me as well. I did do a large payment of 11k to reduce my utilization. Did your score balance out after a few months?

Message 5 of 51
iizshawn
Member

Re: Fico 9 is 67 points lower than Fico 8

The dings I'm receiving is

The proportion of balances to credit limits on bank/national revolving or other revolving accounts is too high
Length of time accounts have been established

Overall utilization is at 37%

Navy CC is at 40%

Military star is at 80%

6 other cards are at 0%

I think that the military star may be the cause, and after this month's reporting my Navy cc will be under 30%. The short length of history has been on my account since the car was added to my credit mix. I'll have to just wait for that to age out in 7 months.

I'm wondering if times pass if it will catch up with my fico 8. Has yours slowly increased, or has the gap just stayed the same?

Message 6 of 51
SouthJamaica
Super Contributor

Re: Fico 9 is 67 points lower than Fico 8


@iizshawn wrote:

This may also be the reason for me as well. I did do a large payment of 11k to reduce my utilization. Did your score balance out after a few months?


It just happened to me -- July 3rd.

 

I only get to see my EQ FICO 9 scores from 1x to 3x a month -- once when I pull my 3-bureau report, once when NFCU updates it, and once when PenFed updates it.

 

So I'll be watching and waiting to see what happens. Usually my FICO 9 scores are much higher than my FICO 8 scores. Right now my EQ 8 is 10 points higher than EQ 9.


Total revolving limits 653000 (575000 reporting) FICO 8: EQ 716 TU 747 EX 715

Message 7 of 51
Birdman7
Super Contributor

Re: Fico 9 is 67 points lower than Fico 8

@iizshawn Do you happen to have a loan modification on record?

-Community’s scoring wisdom: Scoring Primer.
-New: MORTGAGE SECTION.
-Negative Reason Codes: CassieCard’s Score Factors.
-Calculate metrics with ccquest’s Workbook.

Clean/Thick/Mature/No New Revolver - 8,9; Clean/Thick/Mature/No New Account - 5/4/2.
Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.



RIP:

(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 8 of 51
Birdman7
Super Contributor

Re: Fico 9 is 67 points lower than Fico 8

And I would say the military star puts you in the high utilization scorecard based on the observations with @SouthJamaica
-Community’s scoring wisdom: Scoring Primer.
-New: MORTGAGE SECTION.
-Negative Reason Codes: CassieCard’s Score Factors.
-Calculate metrics with ccquest’s Workbook.

Clean/Thick/Mature/No New Revolver - 8,9; Clean/Thick/Mature/No New Account - 5/4/2.
Correct Ag.Util. under 5% all times. (Oldest/avg varies. Estimates above.)
Real world mortgage maxes are: EQ5-818, TU4-839, EX2-844.



RIP:

(Everything said is JMHO and is not endorsed by FICO or MF. I have no affiliation with either, just a grateful member.)
Message 9 of 51
Shooting-For-800
Senior Contributor

Re: Fico 9 is 67 points lower than Fico 8

My fico9 is much lower the Fico8 also.

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $400k unsecured credit in 2021.

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

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Message 10 of 51
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