When will myFICO switch to FICO 9?

[Anonymous]

When will myFICO switch to FICO 9?

[taxi818]

That's like asking will it be sunny on Xmas day. Come on now.  Who knows. 

[Anonymous]

I ask to verify what this 2014 May 27 article says.

The upgrade, known as FICO Score 9, is the first update in six years and the company says that while the data is just being released to consumers, "the majority of FICO scores being pulled by lenders are [already being] generated based on this upgraded version."

From:

http://www.mainstreet.com/article/why-your-credit-score-just-changed-and-how-it-will-impact-your-ab

By the sound of that, myFICO has already switched over.

[-NewGuy-]

I can tell you at least that it hasn't happened yet. MyFICO is currently offering the 08 model of all three on it's site for purchase.

As for when it will happen, I don't know. However, given that the switch to 08 just recently completed a few months ago, I wouldn't expect it to happen any time soon. You could always post in the product feedback forum and ask a mod / admin, perhaps they have additional information.

[Revelate]

I don't know any lender which is pulling FICO 9.  I don't want to see any switches even further away from the traditional mortgage models until more lenders are using them.

Simple fact: all of the free scores provided by the major and minor lenders are all FICO 8, FICO '04, and FICO '98 variants - at least with the FICO 8 models which didn't proliferate until the FICO Open Access program, that is the score they are pulling on a regular basis.  Guarunteed with how the pricing structure is setup.

I can tell you from having worked in a couple of lenders, that they'll take months or longer in field-trialing a new score; we're talking mission critical decision for a lender when it comes to their risk analysis of their portfolio, it isn't a trivial change.

ETA: Don't believe everything that's on the Internet; in this instance, that article I think is badly off since I don't think lenders could even get a FICO 9 pull back then, and I'm 99% confident (since I had to look up something semi-recently) that it wasn't in the bureau's product matrix which has to be disclosed as I understand it.