Not so long ago, A FICO score was something simple. Over 700 and you had good credit. Over 750 is very good, with over 800 being exceptional. FICO 8 tops out at 850. Now there are a number of FICO scores to decipher. In this article, we break them down.
FICO Score 8
When someone mentions their FICO Score, this is the one they are referring to. It's the oldest and most widely used FICO Score. The range of scores goes are from 300 to 850.
FICO Score 2
An older score used for mortgage lending. Scores range is from 300 to 850.
FICO Auto Scores: 2, 8, and 9
FICO Auto Score 8 is the common standard for auto lending. FICO Auto Score 2 is the older auto lending score. FICO Auto Score 9 is the newest auto lending score. All have scores that range from 200 - 950.
FICO Bankcard Score 8, Score 3, and Bankcard Score 2
FICO Bankcard Score 8 and Score 3 are both commonly used for credit card lending, although Score 3 is older. Bankcard Score 2 is an older version as well and used for credit card lending. Scores for 8 and 2 range from 250 - 900. Scores for 3 range from 300 - 850.
FICO Score 9
This is the latest FICO Score to make the line-up. It isn't yet widely used yet. Scores range from 300 - 850. Some of the differences between FICO 8 and FICO 9 are that FICO 9 has the following: • Medical collections - these now have less weight. • Debt that went into collections and is now paid - this use to negatively affect your FICO Score. Now it doesn't. If you've paid off debt that was previously in collections, it can positively affect your credit score. • Rental history - this is new. Landlords can report your payment history, which can impact your credit score. There are also Auto Score 9 and Bankcard Score 9. These scores on these range from 200 - 900.
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