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Fico 9 is a total mystery to me. I've seen several here that remark their Fico 9 scores are in line or higher than 8, but that is not the case with me at all. With the exception of TU, mine are all 30-40 points lower on version 9 than version 8. I can only surmise that it places more emphasis on certain baddies than 8 does. My TU is a just little lower than 8 and its the only report where I have all my baddies gone.
I would be interested in others take on this scoring method too.
@dynamicvb wrote:Fico 9 is a total mystery to me. I've seen several here that remark their Fico 9 scores are in line or higher than 8, but that is not the case with me at all. With the exception of TU, mine are all 30-40 points lower on version 9 than version 8. I can only surmise that it places more emphasis on certain baddies than 8 does. My TU is a just little lower than 8 and its the only report where I have all my baddies gone.
I would be interested in others take on this scoring method too.
It wouldn't be higher for you based on the derogatories, it would be lower. It does score you higher than fico 8 once the derogatories are paid.
@Brian_Earl_Spilner wrote:It wouldn't be higher for you based on the derogatories, it would be lower. It does score you higher than fico 8 once the derogatories are paid.
Not necessarily. My TU is clean and its 6 points lower than my TU Fico 8. Version 9 does not follow the exact same rules as 8 and it must count newer accounts or inquiries more heavily as those the only potentially negative items on that CRA.
Sounds like there is no clear understanding on how 9 is different than 8. Sure makes it difficult to focus on stuff you can control in the short term vs. things that might not be within your power to control (such as not having the funds to pay off a collection).