FICO’s New Credit Score

Many lenders have already upgraded, or are in the process of upgrading, to FICO® Score 9. It is FICO’s Score version, and it has important changes compared to previous scoring formulas:

  • Third-party collections that have been paid off no longer have a negative impact.
  • Medical collections are treated differently than other types of debt. Unpaid medical collections will have less of a negative impact on FICO® Score 9.
  • Rental history, when it’s reported, factors into the score?this may be especially beneficial for people with a limited credit history.

Financing a new car? FICO® also has a specialized score called Auto Scores, which is used in the majority of auto financing-related credit evaluations.

Applying for a credit card? FICO® Bankcard Scores and FICO Score 8 are the score versions used by many credit card issuers.

Purchasing a home or refinancing an existing mortgage? You’ll likely want to know the base FICO® Score versions previous to FICO Score 8, as these are the scores used in the majority of mortgage-related credit evaluations.

For other types of credit, such as personal loans, student loans and retail credit, FICO® Score 8 is the score most widely used by lenders.

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