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What scores?

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Established Member

What scores?

If I have the MyFico subscription, what scores are actually used? (Mortgage, Auto, Credit Card) - there are so many different versions .. I'm trying to narrow down which ones to actually track. TIA!

Message 1 of 22
21 REPLIES 21
Community Leader
Senior Contributor

Re: What scores?

I'd track the nine classic scores, i.e. the scores used for mortgages, FICO 8, and FICO 9.

 

Once you have a handle on the "main" scores, you might find it easier to pay some attention to your auto and bankcard scores.

Message 2 of 22
Highlighted
Established Member

Re: What scores?

So just the Fico 8 & 9 scores? 

I'm interested to track mortgage too.. as we will be working on that to hopefully start buying a house next year. 

Message 3 of 22
Community Leader
Senior Contributor

Re: What scores?

Definitely track the "mortgage" scores.

 

Listing the scores separately, track these:

  • Equifax 04 (FICO 5) Classic ("mortgage" score)
  • Transunion 04 (FICO 4) Classic ("mortgage" score)
  • Experian 98 (FICO 2) Classic ("mortgage" score)
  • Equifax FICO 8 Classic
  • Transunion FICO 8 Classic
  • Experian FICO 8 Classic
  • Equifax FICO 9 Classic
  • Transunion FICO 9 Classic
  • Experian FICO 9 Classic

Classic scores are everything not labeled as auto or bankcard scores, and they top out at 850 rather than 900. "Mortgage" is in quotes because the scores used for mortgages are actually old classic scores. We frequently cut to the chase and refer to them as "mortgage" scores.

Message 4 of 22
Regular Contributor

Re: What scores?

Just an FYI - Since you are interested in mortgage scores know that they behave somewhat differently to activity on your credit report than other scores.  When you get closer to applying for a mortgage check out the Mortgage forum for the specifics. 

For example, MTG scores are more sensitive to the number of accounts reporting a balance than FICO 8 and other models.  You'll likely find a lot of information in this forum as there are always datapoints and discussions regarding how one score model responds differently than other models, but the MTG forum will likely address many things that may be helpful in many ways, including getting the best out of your MTG scores before actually applying.



FICO 8 as of 07/16/19 :




FICO 9 as of 07/09/19 :


Message 5 of 22
Established Member

Re: What scores?

Which one is Credit Cards? 8 or 9?

Message 6 of 22
Regular Contributor

Re: What scores?

As HeavenOhio states above, there is a classic 8 and a classic 9 for all 3 bureaus, simply listed as FICO 8 and FICO 9.  In addition to those and the MTG scores theres: FICO 8 bankcard, FICO 9 bankcard, and the old bankcard models (5 - EQ, 4 - TU, 2 - EX).  In addition to those there's the FICO 8 auto score, FICO 9 auto score and older auto score models (5 - EQ, 4 - TU, 2 - EX).

 

Unlike MTG scores where there's only one model used, each credit card (bankcard) company, auto loan company and other lenders may choose to use any of the many available models -classic 8 or 9, bankcard 8 or 9 or older bankcard models, auto 8 or 9 or older auto models.

 

Each bureau (EQ, TU, EX) will provide a score for each of the following FICO models:

 

FICO Models.png



FICO 8 as of 07/16/19 :




FICO 9 as of 07/09/19 :


Message 7 of 22
Established Member

Re: What scores?

So I should be tracking all of them?

Message 8 of 22
Regular Contributor

Re: What scores?

Some people on this forum are, or have become OCD with tracking all scores.  Many people only track their FICO 8 scores (classic).  Those preparing for a MTG will usually track their MTG scores.  It's up to you and depends on the lender which one they will use when you apply for something.  Although, you should feel safe to assume MTG lenders will review your MTG scores.



FICO 8 as of 07/16/19 :




FICO 9 as of 07/09/19 :


Message 9 of 22
Community Leader
Senior Contributor

Re: What scores?

If by tracking, you mean something like copying and pasting into a spreadsheet, sure, track all of them.

 

If you mean being overwhelmed by paying attention to 28 scores, zero in on watching the behaviors of the ones mentioned above. If something about one of the other scores catches your eye, look into it a little deeper. Otherwise, it's there if you want to look back.

Message 10 of 22