Who Uses Fico8
Even Though It Was Released by Fico More Than a Decade Ago, Score 8 Is the Version Utilized Most Often by All Three of the Major Credit Reporting Companies...
Even though it was released by FICO more than a decade ago, Score 8 is the version utilized most often by all three of the major credit reporting companies: Equifax, Experian, and TransUnion.
Do any lenders use FICO 9?
FICO Score 9 is already being used by hundreds of lenders, and eight of the nation’s top 10 lenders have either evaluated it, are in the process of evaluating it or plan to do so, according to FICO’s Lee. He said he expects FICO 9 to overtake FICO 8, but lenders’ testing of the new model could take years.
Who uses the FICO scoring model?
The Fair Isaac Corporation (now called FICO), which developed the FICO credit scoring algorithm, says its scores are used by 90% of top U.S. lenders in 90% of lending decisions.
Elena Rostova holds a Master's degree in Public Health Journalism. She covers groundbreaking medical research, holistic wellness trends, mental health awareness, and nutritional science.
