Seems no matter what accounts, FICO 9 is what WF offers now. I guess the only question considering accounts, if its bankard 9 or just 9. Thanks for the feedback as I've learned so much since joining the Community just a few months ago. Wish I joined earlier but I was able to repair from what I was able to gather outside of this site. CK was beneficial in that as I found they had the most information to offer other than scores. Even if I achieve a good, very good or excellent score I realize I'm still learning. Particulary since I've paid down my debt, now only concerned about being 0% on credit cards or eventually paying down by auto loan. My only remaining debt (not able to pay to $0) my mortgage and the car I recently purchased. Unfortunately my goal of being debt free seems not beneficial to scores. But I dont like debt so I'm not searching for new loans.
Someone else recently posted that they received an EQ FICO 09 score from WF. Either they were mistaken, or perhaps WF provides different scores (using different bureau data) depending on the product? I don't recall the product for sure that this other poster referenced, but I thought it was a credit card.
Historically, WF has provided scores from different CRAs, using different models, and on different schedules to various customers (likely based on the products they have or have had open...)
It does look like WF is moving towards a more standard approach, displaying just FICO 9, but it now has an "educational purposes" disclaimer attached - "Is the FICO® Score I’m seeing the same score Wells Fargo uses when I apply for a new account? No. This score is for educational purposes. When you apply for credit at Wells Fargo, a score specifically for that product will be run. That score may or may not be same type/bureau as this FICO® Score 9."
My FICO9 is about 30 points higher, it feels like credit requirements are getting a little loose reminds me of pre 2008 crash..
For what it's worth, I've generally seen lower FICO 9 scores, compared to FICO 8, for my personal reports - I've not yet gone over 845 on FICO 9 Classic. Same with the industry options - FICO 8 Auto 887 max, vs FICO 9 Auto 863 max, and FICO 8 Bankcard 885 max vs FICO 9 Bankcard 852 max. (Not that those differences matter... but there certainly isn't an across-the-board curve/skew to higher scores. Individual reports/scores will vary.)
FWIW - Fico 8 industry enhanced Bankcard scores go to 900. Fico 9 Bankcard versions do not (at least for TU and EX). I suspect EQ does not either but, I have not seen data on that one. See below.
Fico Credit Score Description
Fico Model Version
TU Fico score 9 Bankcard
Fico 09 BC
253 - 893
250 - 900
EX Fico score 9 Bankcard
Fico 09 BC
250 - 894
250 - 900
TU Fico score 8 Bankcard
Fico 08 BC
265 - 900
250 - 900
EX Fico score 8 Bankcard
Fico 08 BC
264 - 900
250 - 900
Like IV, my Industry enhanced Fico 9 scores are universally lower than their Fico 8 counterparts. However, Classic scores are the same for both F9 and F9. Interestingly, when my TU Classic Fico 8 dipped a few times, TU Classic Fico 9 did not change. This suggests Classic Fico 9 has a substantial buffer.
|Scoring Model||EQ max||TU max||EX max|
|Auto Fico 8||887||897||897|
|Auto Fico 9||885||880||887|
|Bankcard Fico 8||892||900||900|
|Bankcard Fico 9||877||879||878|
My now closed Wells Fargo retail card provided the Equifax mortgage FICO. It'd be interesting to see which score it provides now.
Yes, I noticed the range later. The previous score offered said bankcard 2 where the now 9 does not and only goes to 850, indicating it's not the bankcard. I too have slightly lower industry FICO 9 scores. I read somewhere that it is possible 9 does not count closed accounts in AAoA.
From Doctor of Credit by William Charles:
"This makes sense, because one of the reasons AAoA is looked at is because it shows how long you’ve displayed good or bad behavior. For example, if my AAoA is 15 years and I have no late payments then the chances of me making a late payment is extremely small. If my AAoA is 2 months and I have no late payments, then it’s much more likely that I’ll make a late payment as there isn’t a lot of history of me paying on time. By including closed accounts the FICO score increases your AAoA artificially. There is no chance you can make a late payment on a closed account, therefore it shouldn’t be included as it’s not a good gauge of calculating risk."
I understand reasoning behind the DoC comment but, believe it is ill founded. If I had 5 cards with 15 years of perfect on time payment history, closed them and opened 5 new ones would my risk be higher than if I just maintained the original 5 accounts? Perhaps to a degree but, that's accounted for by the new accounts scoring factor. The fact that I closed/replaced the accounts should not negate the solid payment history. Undoubtedly historical data has a stronger correlation to risk when closed accounts are included in AAoA vs not being included, thus Fico's inclusion.
There is no published information I have seen indicating Fico 9 does not include closed accounts in AAoA. Not sure what holds my industry enhanced F9 scores down but, I think F9 puts more weight toward credit mix and QTY of open/closed accounts.
I am far below the norm for accounts on file with 6 open CCs, 1 open installment loan and 2 closed CCs (total 9 accounts). My 2 prior mortgages, 1 auto loan and various CCs have all aged off my CRA reports.