What Are the FICO® Score Versions?

What Are the FICO<sup>®</sup> Score Versions? article image.

The FICO® Score , introduced in 1989, revolutionized the credit application process by enabling credit issuers to give qualified borrowers quick approval on loans, credit cards and in-store financing programs. As you'd expect for any decades-old system, the FICO® Score has seen many updates since its introduction. It has also spawned multiple specialized spinoff versions designed for specific industries. Today there are at least 16 versions, or models, of the FICO® Score, which is used by 90% of top lenders.

All versions of the FICO® Score, as well as competitors like the VantageScore®, perform statistical analysis on the contents of your credit report from one of the three national consumer credit bureaus (Experian, TransUnion and Equifax). The FICO® Score algorithm generates a three-digit score that predicts how likely you are to default on a loan—or go more than 90 days without making a payment—within two years.

A higher FICO® Score indicates a lower statistical likelihood of failing to repay a loan. In other words, lenders view a higher FICO® Score as an indicator of greater creditworthiness. Widely used versions of the standard FICO® Scores range from 300 to 850, though models tailored to specific borrowers or industries may differ.

How Many FICO® Score Versions Are There?

FICO® reports there are currently 16 distinct versions of the FICO® Score in use by creditors and other authorized users of personal credit data, such as landlords, utility companies and companies performing certain types of pre-employment background checks. These are just a portion of the dozens of FICO® Score versions issued since 1989.

Most Widely Used FICO® Score Versions

FICO® Score 8: The company says that FICO® Score 8, introduced in 2009, is currently the most widely used version of the FICO® Score.

FICO® Score 9: FICO® Score 9, which debuted in 2014, is also widely used by lenders, according to FICO®.

Newly Released FICO® Score Versions

The most recent versions of the FICO® Score were introduced in January 2020. It often takes new score versions several years to gain widespread usage, as lenders typically do extensive testing with them before integrating them into automated approval processes.

FICO® Score 10: FICO® reports that the FICO® Score 10, the company's latest version of its standard FICO® Score software, offers better predictive accuracy than earlier versions of the scoring model.

FICO® Score 10T: Also introduced in January 2020, this version of the scoring software uses the same analytical framework FICO® Score 10, but also makes use of trended data, an enhanced method of organizing credit report information. Implemented in recent years by all three national credit bureaus, trended data allows credit scoring software to make predictions based on behavior patterns that cannot be discerned using traditional credit report data. For example, traditional data distinguishes borrowers who pay bills on time each month from those who don't, but trended data can also enable comparisons between bill payers who habitually pay credit card balances in full and those who make only the minimum required payment each month.

FICO® Auto Score 10: Launched in 2020, this version of the FICO® Score model is specially designed to gauge the likelihood a borrower will repay an auto loan. It offers refined assessments of new credit users, who make up a large portion of the first-time car buyer segment. In contrast to the standard FICO® Score 10, which assigns scores on a scale of 300 to 850, Auto Score 10 uses a scale range of 250 to 900.

FICO® Bankcard Score 10: The latest version of the FICO® Bankcard Score 10 adapts the scoring framework of FICO® Score 10 to predict how borrowers may pay their credit card bills. Its refinements include greater accuracy among "subprime" borrowers targeted by some credit card issuers. (For purposes of FICO® Bankcard Score 10, the company defines a subprime borrower as one with at least one credit account that's delinquent by 90 days or more, with at least one account in collections, and/or with a bankruptcy in their credit history.) FICO® Bankcard Score 10 uses a scale range of 250 to 900.

FICO® Scores for Credit Card Decisions

Since 1993, FICO® has introduced multiple versions of its credit scoring software optimized for assessing the creditworthiness of credit card borrowers. All versions of the FICO® Bankcard Score assign scores using a scale range of 250 to 900.

FICO® Bankcard Score 9 and FICO® Bankcard Score 8: Released in 2014 and 2009, respectively, these versions are available from all three national credit bureaus.

FICO® Bankcard Score 2 and FICO® Score 3: Experian provides these versions of the FICO® Score to credit card issuers that prefer them for their approval processes.

FICO® Bankcard Score 4: Card issuers can get this version of the FICO® Bankcard Score from TransUnion.

FICO® Bankcard Score 5: Credit card issuers can obtain this version of the FICO® Bankcard Score from Equifax.

FICO® Scores for Mortgage Lending

Known as "classic" FICO® Scores, the following versions of the FICO® Score are widely used by mortgage lenders.

FICO® Score 2: Mortgage lenders get this version of the FICO® Score from Experian.

FICO® Score 4: Mortgage lenders get this version of the FICO® Score from TransUnion.

FICO® Score 5: Mortgage lenders obtain this version of the FICO® Score from Equifax.

For many years, lenders offering mortgages known as conforming loans—loans eligible for purchase by Fannie Mae and Freddie Mac—were required to use these classic FICO® Scores in their loan approval process. In late 2020, the Federal Housing Finance Agency (FHFA)—the regulating agency that oversees Fannie Mae and Freddie Mac—announced that other credit scoring software, including newer versions of the FICO® Score and competing software from VantageScore, will be evaluated for future use with conforming loan applications.

FICO® Scores for Auto Lending

FICO® Auto Score 9 and FICO® Auto Score 8: Introduced in 2014 and 2009, respectively, these versions of the FICO® Auto Score are available from all three national credit bureaus.

FICO® Auto Score 2: Experian provides this version of the FICO® Auto Score to auto lenders.

FICO® Auto Score 5: Auto lenders can obtain this version of the FICO® Auto Score from TransUnion.

FICO® Auto Score 4: Auto lenders can secure this version of the FICO® Auto Score from Equifax.

How Are FICO® Scores Calculated?

Each FICO® Score version calculates scores somewhat differently, and the specific calculations each uses are trade secrets, but FICO® cites five behaviors that influence all FICO® Scores. Focusing on these score factors will tend to bring improvement to all credit scores:

  • Payment history: Paying your bills on time each month—especially debts such as loans and credit cards—promotes credit score improvement more than any other single factor. On the other hand, payments made more than 30 days late can do major damage to your credit scores. Payment history accounts for about 35% of your FICO® Score.
  • Amounts owed: Your total outstanding debt and your credit utilization—the percentage of your total credit card borrowing limit represented by the sum of your outstanding balances—contributes about 30% of your FICO® Score. Keeping your outstanding credit card balances well below 30% of your borrowing limit can help your FICO® Score.
  • The age of your credit history: Lenders like to work with borrowers who have experience managing debt, as long as you avoid major missteps your credit scores tend to increase over time. This factor accounts for about 15% of your FICO® Score.
  • Credit mix: Lenders appreciate borrowers who can responsibly manage multiple types of debt at once, so a blend of active accounts can increase your credit scores. The FICO® Score tends to reward combinations of installment debt (loans with fixed monthly payments and defined repayment terms) and revolving credit (accounts like credit cards, in which you borrow against a credit limit and make payments in variable amounts). Credit mix is responsible for about 10% of your FICO® Score.
  • New credit: When you apply for a loan or credit card, the lender usually performs a credit check known as a hard inquiry, typically requesting a copy of your credit report and, often, a credit score based on that report. Hard inquiries can cause your credit score to drop a few points. And while scores tend to rebound quickly if you keep up with your bills, multiple credit applications for different types of credit over a short time can do cumulative harm to your credit scores.

Which FICO® Score Should I Check?

Because lenders use so many different versions of the FICO® Score, and because they can get many of them from any of the three national credit bureaus (whose versions of your credit reports typically differ somewhat at any given time), it's practically impossible to know exactly which score a lender will see when they process your credit application. Fortunately, knowing exactly which score a lender sees is less important than working to make all your scores as high as they can be before you apply for a loan or credit card.

In keeping with the status of FICO® Score 8 as the most widely used version of the score currently in use, many free credit scoring services provide access to that version of the FICO® Score. It is a good representation of the scores lenders will likely see when they check your credit.

Check Your FICO® Score With Experian

When you check your FICO® Score for free with Experian, the version you'll see is FICO® Score 8. Experian also offers a paid subscription service that gives you access to FICO® Score calculations based on your credit reports from Experian, TransUnion and Equifax, and to your credit reports from all three national credit bureaus.

Checking credit scores from all three credit bureaus on a regular basis can give you a good idea of your progress toward building up your credit. It's normal for scores to vary somewhat month to month, but large changes in score can be a sign of credit fraud. If you see a major change in your credit score that doesn't correspond with your credit activity, check your credit reports for signs of unauthorized activity.

How Good Is Your Credit Score?

300 credit score301 credit score302 credit score303 credit score304 credit score305 credit score306 credit score307 credit score308 credit score309 credit score310 credit score311 credit score312 credit score313 credit score314 credit score315 credit score316 credit score317 credit score318 credit score319 credit score320 credit score321 credit score322 credit score323 credit score324 credit score325 credit score326 credit score327 credit score328 credit score329 credit score330 credit score331 credit score332 credit score333 credit score334 credit score335 credit score336 credit score337 credit score338 credit score339 credit score340 credit score341 credit score342 credit score343 credit score344 credit score345 credit score346 credit score347 credit score348 credit score349 credit score350 credit score351 credit score352 credit score353 credit score354 credit score355 credit score356 credit score357 credit score358 credit score359 credit score360 credit score361 credit score362 credit score363 credit score364 credit score365 credit score366 credit score367 credit score368 credit score369 credit score370 credit score371 credit score372 credit score373 credit score374 credit score375 credit score376 credit score377 credit score378 credit score379 credit score380 credit score381 credit score382 credit score383 credit score384 credit score385 credit score386 credit score387 credit score388 credit score389 credit score390 credit score391 credit score392 credit score393 credit score394 credit score395 credit score396 credit score397 credit score398 credit score399 credit score400 credit score401 credit score402 credit score403 credit score404 credit score405 credit score406 credit score407 credit score408 credit score409 credit score410 credit score411 credit score412 credit score413 credit score414 credit score415 credit score416 credit score417 credit score418 credit score419 credit score420 credit score421 credit score422 credit score423 credit score424 credit score425 credit score426 credit score427 credit score428 credit score429 credit score430 credit score431 credit score432 credit score433 credit score434 credit score435 credit score436 credit score437 credit score438 credit score439 credit score440 credit score441 credit score442 credit score443 credit score444 credit score445 credit score446 credit score447 credit score448 credit score449 credit score450 credit score451 credit score452 credit score453 credit score454 credit score455 credit score456 credit score457 credit score458 credit score459 credit score460 credit score461 credit score462 credit score463 credit score464 credit score465 credit score466 credit score467 credit score468 credit score469 credit score470 credit score471 credit score472 credit score473 credit score474 credit score475 credit score476 credit score477 credit score478 credit score479 credit score480 credit score481 credit score482 credit score483 credit score484 credit score485 credit score486 credit score487 credit score488 credit score489 credit score490 credit score491 credit score492 credit score493 credit score494 credit score495 credit score496 credit score497 credit score498 credit score499 credit score500 credit score501 credit score502 credit score503 credit score504 credit score505 credit score506 credit score507 credit score508 credit score509 credit score510 credit score511 credit score512 credit score513 credit score514 credit score515 credit score516 credit score517 credit score518 credit score519 credit score520 credit score521 credit score522 credit score523 credit score524 credit score525 credit score526 credit score527 credit score528 credit score529 credit score530 credit score531 credit score532 credit score533 credit score534 credit score535 credit score536 credit score537 credit score538 credit score539 credit score540 credit score541 credit score542 credit score543 credit score544 credit score545 credit score546 credit score547 credit score548 credit score549 credit score550 credit score551 credit score552 credit score553 credit score554 credit score555 credit score556 credit score557 credit score558 credit score559 credit score560 credit score561 credit score562 credit score563 credit score564 credit score565 credit score566 credit score567 credit score568 credit score569 credit score570 credit score571 credit score572 credit score573 credit score574 credit score575 credit score576 credit score577 credit score578 credit score579 credit score