@Anonymous wrote:
So I’ll say this, I was pretty excited about fico 9. I thought from what I read, it was a good model. One thing makes no sense and that is to most of the people who paid collections because it’s the right thing to do will be punished by fico 9 as it will not recognize that you paid them off. That’s right, my scores are 609,624,623 through fico 8. Fico nine however pushed me into the middle to upper 500’s.
Personally I think this new model further separates the classes from each other in society. We need one credit scoring model and that’s it. All of this coming from the housing crisis when every app was approved without a human even looking at them. I’m frustrated. My score was into the upper 300’s when I started paying off debt. Everything I work hard to overcome will be ripped to shreds.
My question is: Are ALL your collections paid? If there are any unpaid, Fico 9 punishes score more so than does Fico 8. Also, small unpaid collections are "ignored" in Fico 8 but evidence indicates they are not in Fico 9. Why? Because Fico 9 is structured to motivate borrowers to PAY UP on loans - that's what Fico's TRUE customers (lenders) want.
Fico 9: .......EQ 850 TU 850 EX 850
Fico 8: .......EQ 850 TU 850 EX 850
Fico 4 .....:. EQ 809 TU 823 EX 830 EX Fico 98: 842
Fico 8 BC:. EQ 892 TU 900 EX 900
Fico 8 AU:. EQ 887 TU 897 EX 899
Fico 4 BC:. EQ 826 TU 858, EX Fico 98 BC: 870
Fico 4 AU:. EQ 831 TU 872, EX Fico 98 AU: 861
VS 3.0:...... EQ 835 TU 835 EX 835
CBIS: ........EQ LN Auto 940 EQ LN Home 870 TU Auto 902 TU Home 950
