Credit glossary
FICO Score 8
The FICO version most widely used for credit cards and general lending, and the one many free score offers display.
FICO 8 ignores collections whose original balance was under $100 but still counts paid collections, unlike FICO 9 and later versions. When FICO announced it in 2008, the company said it would keep counting authorized user accounts while reducing the effect of tradeline renting. Experian's free score is a FICO 8, and Experian Boost is built to affect Experian-based FICO 8 scores.
FICO 8 reads mostly a snapshot of your file, so a card balance paid down before the statement closes counts in full once it reports. That's a key difference from trended models like FICO 10T. If your app shows FICO 8 but you're applying for a mortgage, expect the lender to pull older FICO versions from each bureau, which can come out higher or lower.
Guides that go deeper
- FICO 8, 9, 10 and 10T: which version lenders actually useYou have dozens of FICO Scores. What changed in FICO 8, 9, 10 and 10T, which lenders use each, and how to learn which one you'll face.
- Why your free app score doesn't match your lender'sFree apps usually show VantageScore 3.0 or FICO 8, while lenders pull auto, bankcard or mortgage versions. How to see something closer to their number.
- How collections affect your score in FICO 8, 9, 10 and VantageScoreThe same collection can count fully, count less, or not count at all depending on the score version. A model-by-model look at paid, settled and medical debt.
Sources
- FICO Score versions, myFICO
- Fair Isaac innovation will restore authorized user accounts to calculation of FICO 08 scores (July 31, 2008), FICO
- Why Is My Credit Score Different When Lenders Check My Credit?, Experian
- Experian Boost, Experian
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