![]() In addition to the "classic" version, FICO offers "Industry Option" versions customized for auto loans, credit cards, installment loans, personal finance loans, and insurance. However, most mortgage lenders use FICO 04 for Equifax and Transunion, and FICO 98 for Experian. The most recent edition is FICO Score 10introduced in 2020.Īs of 2020, FICO Score 8 is the most commonly used. Some FICO editions are commonly known by the year of introduction: FICO 98, FICO 04, and FICO 08 (although FICO now calls it FICO Score 8, without the zero). When a new FICO edition is released, many lenders continue using an older version for years before "upgrading." The 1995 revision is no longer in common use, but later editions are still used by lenders. Each "edition" uses a different formula and produces a different score. The FICO scoring model with its familiar range of 300 to 850 was first introduced in 1989. Please offer any corrections or updates, and they will be edited in. This post provides a summary of the various FICO versions. On a single day, a consumer could theoretically have dozens of different FICO scores, depending on which version and credit agency is used to produce the score. FAKO scores have little value since few of them are used by lenders and they do not match closely to FICO scores.īut even when you stick with FICO scores, confusion can ensue because FICO scores have many different editions, versions, and variations. ![]() FAKO refers to the non-FICO scores offered by various companies. One of the first things a newcomer to this board learns is the difference between FICO and FAKO scores. All 28 scores are included when buying the 3-Bureau Report, or when buying the Advanced or Premier subscription plans. These include Auto Scores and Bankcard Scores from each credit agency.Ī full list of 28 score versions available from MyFICO can be seen here. Equifax FICO Score 5 (also known as EQ-04 or Beacon 5).Īlso available are "Industry Option" scores that have a range of 250 to 900.Transunion FICO Score 4 (also known as TU-04 or Transunion FICO Risk Score Classic 04).Experian FICO Score 2 (also known as EX-98 or Risk Model v2).These include three scores most often used by mortgage lenders: MyFICO is now selling additional score versions to the public. These names have been added below using this color. A summary of FICO editions, versions, and variationsĪs of 2015, FICO is using new names for some FICO scores.
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