@Anonymouswrote:
So, today I realized that Wells Fargo has moved to Fico 9. Which is awesome for me. However, I don't see that many other companies are doing the same. Is there some info out there that suggests when Fico 9 will replace 8 ?
I hope we hear from some of our resident experts on this topic. I know it takes years for new models to become heavily utilized, so I assume Fico 9 is pretty much on-par in that regard. Do I remember correctly that Fico 9 was released in early 2016 or so? With it being about two years now (if I am remembering correctly), I would think we would see more Fico 9 usage at some point soon. Is there any chance that there are elements of Fico 9 that lenders don't like and that it may never be the "go to" score?
In my case, my Fico 9 scores are about 40-50 points higher than my Fico 8 scores, so I certainly would not mind seeing Fico 9 used more by lenders.
Year 2012: All Scores in the 520 range, during a foreclosure, CC Settlement and high UTIL. Very ugly days...
April 2024: EX8: 839; EQ8: 845; TU8: 842 -- Middle Mortgage Score: 822
In My Wallet: Discover $73.7K; Cap1 Venture $51.7K; Amex ED $38K; Amex Optima $2.5K; Amex Delta Gold $18K; Citi Costco $24.5K; Cap1 Plat $8.4K; Barclay $7K; Chase Amazon $6K; BoA Plat $21.6K; Citi TY Pref $22K; US Bank $4K; Dell $5K; Care Credit $6.5K. Total Revolving CL: $300K+
My UTIL: Less than 1% - Only allow about $20 a month to report, on one account. .
