cancel
Showing results for 
Search instead for 
Did you mean: 

Fico 9 vs Fico 8

tag
anik28
Frequent Contributor

Fico 9 vs Fico 8

I just had a new account reported and large CLI from Nordstrom, all but 1 collection have been removed from my reports. My overall utilization is around 32% of my total credit limits. I'm still not understanding why my Fico 9 scores are so much lower, it's very frustrating.

 

834EE5AC-62AB-4810-A7C6-12125FC01C3A.jpeg

 

8F15695A-7F14-44DF-8BCA-4FA8E584C7A1.jpeg

 

I've made fairly large efforts to pay down debt and clean up my scores. Vantage still is reporting much higher at 667, 670, which I know to take with a grain of salt. I expected that my Fico 9's would go up as my overall profile has improved greatly but they're still sub 600.

 

any insight into this would be helpful -it's deflating to not seeing Fico 9 improve at all.

Message 1 of 10
9 REPLIES 9
FireMedic1
Community Leader
Mega Contributor

Re: Fico 9 vs Fico 8

Once the last collection is gone that will help and getting below 28% util is the next step for increase. Once below 8% that will help even more. There must be other baddies besides the collections from the past you didt mention. Need to know how many cards you got. When were they obtained. Seeing that -17 on EQ FICO 8 something happended. You have a thin file? Need more info.


Message 2 of 10
OmarGB9
Community Leader
Super Contributor

Re: Fico 9 vs Fico 8

You're also comparing a classic FICO 8 to a Bankcard FICO 9. Bankcard scores are weighted differently than even the classic scores. To have a more accurate comparison, look at your classic FICO 9 score under "Other loans."


Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 3 of 10
anik28
Frequent Contributor

Re: Fico 9 vs Fico 8

@FireMedic1 im not sure why EQ went down. I have no other baddies, 1 collection. There are some charged off accounts that have been PIF if maybe that's causing a dip. I wouldn't say my profile is thin, I have 25 accounts in good standing and 100% payment history, car loan and student loans all in perfect standing. Most of my credit cards are new within the last 3 years, AAoA is about 2.5 years.

 

thanks!

Message 4 of 10
anik28
Frequent Contributor

Re: Fico 9 vs Fico 8

@OmarGB9 took a look, they're about the same even on other loans. I'm wondering if the new accounts and any inquiries are weighing much harder on my Fico 9.

Message 5 of 10
anik28
Frequent Contributor

Re: Fico 9 vs Fico 8

@FireMedic1 here is my credit profile as shown on Mint

F08BFAF8-C79F-4AC2-9033-54CFB8892F78.png

 

63E2AEF5-3E66-4B30-8AF1-41FDC7CFE5D0.png

 

E4B2D9F8-447D-4887-9908-B890763CC88C.png

 

94C7CC4A-6F4A-42ED-8D68-87B21ECA6CF3.png

 

B67DAC30-6661-4008-B243-64A7EC2F41D0.png

 

Message 6 of 10
anik28
Frequent Contributor

Re: Fico 9 vs Fico 8

3E4F9C93-14A5-42CF-8F64-81EE48A69B47.jpeg

 

Message 7 of 10
Cory88
Frequent Contributor

FICO 8 vs FICO 9

What is the real differences in the two score models? I have looked over the post that is on this board and I don't know why two are so differently.

My FICO EX is 785 and my EX FICO 9 is 815 and so on with the other ones are basically the same big gap. 

Message 8 of 10
FireMedic1
Community Leader
Mega Contributor

Re: Fico 9 vs Fico 8


@OmarGB9 wrote:

You're also comparing a classic FICO 8 to a Bankcard FICO 9. Bankcard scores are weighted differently than even the classic scores. To have a more accurate comparison, look at your classic FICO 9 score under "Other loans."


@anik28This above from @OmarGB9 . Thats MyFICO's page you snipped. Look at FICO 9. Plain 9. Not bankcard.

@Cory88To save time. Check out the Primer . Its exhaustive.


Message 9 of 10
SouthJamaica
Mega Contributor

Re: Fico 9 vs Fico 8


@anik28 wrote:

I just had a new account reported and large CLI from Nordstrom, all but 1 collection have been removed from my reports. My overall utilization is around 32% of my total credit limits. I'm still not understanding why my Fico 9 scores are so much lower, it's very frustrating.

 

834EE5AC-62AB-4810-A7C6-12125FC01C3A.jpeg

 

8F15695A-7F14-44DF-8BCA-4FA8E584C7A1.jpeg

 

I've made fairly large efforts to pay down debt and clean up my scores. Vantage still is reporting much higher at 667, 670, which I know to take with a grain of salt. I expected that my Fico 9's would go up as my overall profile has improved greatly but they're still sub 600.

 

any insight into this would be helpful -it's deflating to not seeing Fico 9 improve at all.


1.  As @OmarGB9 pointed out you're comparing Classic FICO 8 with Bankcard 9 rather than Classic FICO 9.

 

2. Here are some possible differences between FICO 8 and 9, maybe you'll spot some things:

-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
-9 has a separate clean scorecard for people with high revolving utilization


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 10 of 10
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.