Need help understanding FICO 5 scoring...

[wvasweetness]

My FICO 5 score is 70 points less than my 8.  Can someone point me to info on how 5 is scored and/or general information on maximizing my score (ie: use AZEO, etc).  Thanks!

[AllZero]

---

@wvasweetness wrote:

My FICO 5 score is 70 points less than my 8.  Can someone point me to info on how 5 is scored and/or general information on maximizing my score (ie: use AZEO, etc).  Thanks!

---

I'm not sure if we know all there is that goes into the secret recipe for EQ5 scoring.

https://www.myfico.com/credit-education/credit-scores/fico-score-versions

How does your profile look like?

Are you at AZEO now?

How is your reported individual and aggregate utilization?

What MMS are you trying to achieve?

I would recommend reading the below from ABCD2199
The Truth about Credit Card Utilization
My 11 Rules to Credit Rebuilding
FICO Score: What to pay down first?

From Birdman7
General Scoring Primer and Version 8 Master Thread rev.5.17.20

[SouthJamaica]

---

@wvasweetness wrote:

My FICO 5 score is 70 points less than my 8.  Can someone point me to info on how 5 is scored and/or general information on maximizing my score (ie: use AZEO, etc).  Thanks!

---

My feeling is that it loves zero balances, and abhors new inquiries and accounts

[Anonymous]

Will need to hear back from the OP with profile details in order to provide solid recommendations.

[tooleman694]

From my own personal experience because I am buying a house. I have noticed the old fico scores will crush you if you have new accounts and INQs. While rebuilding my scores, my Fico 8 has been pretty steady, while the old fico goes wild. I have noticed that if I just do nothing and let it age, the old scores love it.

I got 19 points this morning on my EX 02 from going from 49 to 48 util and losing an INQ, my Fico 8 didnt move. Id bet real money, my old ficos are about to be higher then my fico 8 here shortly as I get my util down.

[hdporter]

---

@SouthJamaica wrote:

---

@wvasweetness wrote:

My FICO 5 score is 70 points less than my 8.  Can someone point me to info on how 5 is scored and/or general information on maximizing my score (ie: use AZEO, etc).  Thanks!

---

My feeling is that it loves zero balances, and abhors new inquiries and accounts

---

I'll add to that by saying that mortgage scores start losing their s**t when aggregate revolving balances top $10k, and really suffer over $20k.

Mortgage scores also more strongly prefer fewer accounts with reporting balances.

My FICO 8's have run 800+ consistently for 4+ years now.  My mortgage scores run 720-760.  When I'm next in the market for a mortgage, I'll payoff my revolvers to a $5k cap, and position myself as inquiry free for no less than 6mo (pref 1 year).