Hello all! I have a question about fico 9 vs fico 8 my transunion and equifax fico 8 is 104 and 51 points higher than 9. No collections accounts anymore and one almost 7 yr charge off from an old credit card that's paid. Now all my fico scores whether it's an older scoring model is good and none show a delinquency as a negative factor. Fico 9 for both shows serious delinquency as a factor and scores seem to show it. I called fico today and they said it's because 9 weighs it more but I guess my question is why isn't it weighing down my older scores along with fico 8. I would think since it's on my report it would weigh on other scores?
It's for $341. Feedback is appreciated!
It's my understanding that unpaid collections are given greater weight in FICO 9 than in FICO 8 and other models. So that would be my guess as to the reason why. Maybe it's not showing as paid. A chargeoff is when something isn't paid, it's just written off.
On my reports it says payment after charge off. I paid it in full
Maybe you should start disputing it.
What should I say in the dispute? It says on my reports payment after charge off. Should it be saying something different?
It sounds like its reporting correctly to me so I would say do not dispute, perhaps a GW campaign. I think 9 is a lot more sensitive to any baddies than 8. All mine are a good bit lower to the tune of 40-50 points on the two CRA's that still have baddies on them. My TU is clean and version 9 is only a few points below 8.
If it falls off in May do some EE requests from CRAs. You can EE Experian in Feb and EQ in April. TU would do it now. Then it will be gone.