The many flavors of FICO:
A summary of FICO editions, versions, and variations
Updated 7-27-2020
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As of 2015, FICO is using new names for some FICO scores. These names have been added below using this color.
MyFICO is now selling additional score versions to the public. These include three scores most often used by mortgage lenders:
- Experian FICO Score 2 (also known as EX-98 or Risk Model v2)
- Transunion FICO Score 4 (also known as TU-04 or Transunion FICO Risk Score Classic 04)
- Equifax FICO Score 5 (also known as EQ-04 or Beacon 5).
Also available are "Industry Option" scores that have a range of 250 to 900. These include Auto Scores and Bankcard Scores from each credit agency.
A full list of 28 score versions available from MyFICO can be seen here. All 28 scores are included when buying the 3-Bureau Report, or when buying the Advanced or Premier subscription plans.
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One of the first things a newcomer to this board learns is the difference between FICO and FAKO scores. FAKO refers to the non-FICO scores offered by various companies. FAKO scores have little value since few of them are used by lenders and they do not match closely to FICO scores.
But even when you stick with FICO scores, confusion can ensue because FICO scores have many different editions, versions, and variations. On a single day, a consumer could theoretically have dozens of different FICO scores, depending on which version and credit agency is used to produce the score.
This post provides a summary of the various FICO versions. Please offer any corrections or updates, and they will be edited in.
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The FICO scoring model with its familiar range of 300 to 850 was first introduced in 1989. Since then, FICO has released six major revisions: 1995, 1998, 2004, 2008, 2014, and 2020. Each "edition" uses a different formula and produces a different score.
When a new FICO edition is released, many lenders continue using an older version for years before "upgrading." The 1995 revision is no longer in common use, but later editions are still used by lenders.
Some FICO editions are commonly known by the year of introduction: FICO 98, FICO 04, and FICO 08 (although FICO now calls it FICO Score 8, without the zero).
The most recent edition is FICO Score 10 introduced in 2020.
As of 2020, FICO Score 8 is the most commonly used. However, most mortgage lenders use FICO 04 for Equifax and Transunion, and FICO 98 for Experian.
In addition to the "classic" version, FICO offers "Industry Option" versions customized for auto loans, credit cards, installment loans, personal finance loans, and insurance. These have a score range of 250 to 900, so the scores are not fully comparable with "classic" versions. Auto and Bankcard scores are available from myFICO as described here. Citibank provides the Equifax FICO 8 Bankcard score free each month to credit cards holders.
Each credit agency (Transunion, Equifax, and Experian) uses a customized version of each FICO edition. As a result, a consumer's FICO scores from each agency may differ even when all credit information is identical among the agencies.
Because there are many FICO versions, when a score is received, it's helpful to know which version it is. If a lender provides a credit score, ask for details such as which credit agency was used, which FICO edition was used, and whether the score is an Industry Option version. The lender may not always be willing or able to provide the answers, but it doesn't hurt to ask.
Special note about "real-world" score ranges:
When providing information to consumers, FICO always says the range for standard or "classic" scores is 300 to 850. However a little known fact is that the actual, real-world score range is not 300 to 850 for all FICO classic versions.
For many years, the real-world score ranges were known only to financial professionals and rarely disclosed to consumers. In 2009, a change in federal credit laws required greater disclosure of information to credit applicants. As a result, the real-world score ranges began to appear on documents credit applicants received from lenders. The formerly "secret" score ranges became public knowledge.
The summary below includes the real-world score range for each FICO edition.
Available here is a document showing examples of real-world score ranges for each credit agency.
Shown below are the FICO editions in common use, along with names used by each credit agency for their standard or "classic" versions. The "common names" are those often used by posters on credit-related message boards.
Also shown is how scores can be obtained directly by consumers. Most scores can be purchased from MyFICO and from credit agencies. However, many banks, credit unions, and credit card issuers now provide free FICO scores to account holders. A forum thread discussing where free FICO scores can be obtained is available here.
For more about the various FICO score versions, see here.
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FICO 98 (introduced 1998)
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Transunion
- Official name: FICO Risk Score Classic 98
- Common name: TU-98
- Available directly to consumers: No
- Real-world score range: 336 to 843 (as shown on page 16 of this Transunion document)
Equifax
- Official name: Equifax Beacon 96
- Common name: EQ-98
- This version appears to be rarely used by lenders.
- Available directly to consumers: No
Experian
- Official name: Experian FICO Score 2 (also known as Experian FICO Risk Model v2)
- Common name: EX-98
- Available directly to consumers: from myFICO when buying the 1 or 3 Bureau Report.
- Real-world score range: 320 to 844 (as shown on this Experian document)
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FICO 04 (introduced 2004)
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Most mortgage lenders use FICO 04 for Equifax and Transunion, and FICO 98 for Experian.
All three scores will normally be pulled and the middle score (not the average) will be used by the lender.
Transunion
- Official name: Transunion FICO Score 4 (also known as Transunion FICO Risk Score Classic 04)
- Common name: TU-04
- Available directly to consumers: from myFICO when buying the 1 or 3 Bureau Report.
- Real-world score range: 309 to 839 (as shown on page 16 of this Transunion document)
Equifax
- Official name: Equifax FICO Score 5 (also known as Equifax Beacon 5.0)
- Common name: EQ-04
- Available directly to consumers: from myFICO when buying the 1 or 3 Bureau Report. Some credit unions such as DCU provide it FREE each month to members.
- Real-world score range: 334 to 818
Experian
- Official name: Experian FICO Score 3 (also known as Experian FICO Risk Model v3)
- Common name: EX-04
- Available directly to consumers: from myFICO when buying the 1 or 3 Bureau Report.
- Real-world score range: 325 to 850 (as shown on this Experian document)
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FICO Score 8 (introduced 2008)
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Transunion
- Official name: Transunion FICO Score 8 (also known as Transunion FICO 8 Risk Score or FICO Risk Score Classic 08)
- Common name: TU-08
- Available directly to consumers: from myFICO when buying the 1 or 3 Bureau Report. Some credit card issuers provide it FREE each month to account holders, including Bank of America and Barclays.
- Real-world score range: 341 to 850 (as shown on page 15 of this Transunion document)
Equifax
- Official name: Equifax FICO Score 8 (also known as Equifax Beacon 09)
- Common name: EQ-08
- Available directly to consumers: from myFICO when buying the 1 or 3 Bureau Report. Andrews Federal Credit Union provides it FREE each month to account holders.
- Real-world score range: 300 to 850
Experian
- Official name: Experian FICO Score 8 (also known as Experian FICO Risk Model v8)
- Common name: EX-08
- Available directly to consumers: from myFICO when buying the 1 or 3 Bureau Report. Experian provides this score and a complete credit report FREE to anyone (updated every 30 days) as shown here.
- Real-world score range: 316 to 850 (as shown on this Experian document)
In May 2014, a poster named android01 received 850 scores from all three credit agencies, as described in this post.
In June 2014, a poster named fused received 850 scores from all three credit agencies, as described in this post.
This 2011 press release describes a study of FICO Score 8 scores. From a sample of 250,000 credit reports, it found 0.02% had a score of 850, or about 1 out of every 5000 persons.
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FICO Score 9 (introduced 2014)
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In 2014, FICO announced a new version called FICO Score 9.
Available directly to consumers:
- from myFICO when buying the 1 or 3 Bureau Report.
- PenFed and Navy Fed credit unions provide Equifax FICO 9 scores free to account holders.
- Wells Fargo provides Experian FICO 9 scores free to account holders.
This New York Times article says FICO 9 includes two important changes:
- unpaid debts that result in collection actions will no longer have a negative effect on a score if the debt has been paid.
- unpaid medical debts will have less negative effect on scores.
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FICO NextGen also known as FICO Score NG (introduced 2001)
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In 2001, FICO released a new scoring model called NextGen. It is claimed to be an improvement over "classic" FICO models because it tracks more factors. But it has failed to catch on with lenders because its score range of 150 to 950 is incompatible with the familiar 300 to 850 range, requiring lenders to recalculate cutoff scores and revise many rules and policies. Only a small percentage of lenders reportedly use NextGen.
Transunion
- Official name: Precision
- Available directly to consumers: No
Equifax
- Official name: Pinnacle
- Available directly to consumers: No
Experian
- Official name: FICO Advanced Risk Score
- Available directly to consumers: No
EQ-04 FICO__804__(from DCU)__inquiries = 0
EQ-08 FICO__826__(from MyFICO)__inquiries = 0
EX-98 FICO__837__(from PSECU)__inquiries = 0
EX-08 FICO__813__(from MyFICO)__inquiries = 0
TU-08 FICO__820__(from MyFICO)__inquiries = 0
Oldest account 36 yrs / Newest account 2 years / Average age 12 yrs / Total accounts 10 / Accounts reporting balance = 2 / Util = 3%
) but I'm only paying 1% interest on a BT that I used to buy my son a used car and I can live with a 1% car loan. The other revolving debt is all at 0% so I'm in good shape.
