What Is FICO (Fair Isaac Corporation) Score 2?

FICO Score 2 is a credit rating that ranges from 300 to 850, calculated from the information Equifax reports and using the same five‑factor model (payment history, amounts owed, length of credit history, new credit, and credit mix). It predicts how likely you are to miss a loan payment, and lenders use it to decide whether to approve you and what price to charge.

A score of 780 typically lands you the lowest mortgage or auto‑loan interest rates, a 710 score gets you average rates and may require a slightly larger down payment, and a 640 score often results in higher rates or a request for a co‑signer. These examples illustrate how the number you see on your credit report can directly affect the cost and availability of credit you pursue.

FICO Score 2 appears as a distinct line item on the credit reports you receive from each of the three major bureaus, identified by the bureau name, and it shows up in any consumer‑grade score portal or lender dashboard that requests that version.

• Experian credit report: listed as 'FICO Score 2 (Experian)'
• TransUnion credit report: listed as 'FICO Score 2 (TransUnion)'
• Equifax credit report: listed as 'FICO Score 2 (Equifax)'
• MyFICO or similar consumer‑score services: displayed under the FICO Score 2 tab
• Credit‑monitoring apps (e.g., Credit Karma, Mint): show the score when you opt‑in to view FICO Version 2
• Lender portals or loan application systems: present the score in the credit‑pull summary if the lender specifies FICO Score 2

FICO Score 2 uses the 2009 scoring algorithm, the same 300‑850 range as newer versions, and bases its calculations on the credit‑report format that existed at that time. It weights payment history heavily, treats medical collections as a simple negative entry, and gives little penalty for a single hard inquiry. Because it relies on the older 'snapshot' of your file, it does not consider trended balances or rental‑payment data that later models capture.

Current FICO models (8, 9, 10, 10T) incorporate newer data points, such as monthly balance trends, rental and utility payments, and a softer approach to isolated medical debts. They increase the impact of high utilization, reduce the effect of a single inquiry, and apply industry‑wide updates that reflect today's credit‑behaviors.

These changes explain why the score you see in the 'what FICO Score 2 means for you' section may look different from the 'why FICO Score 2 can differ from other scores' discussion later in the article. For a detailed breakdown of each version, see FICO's official model comparison.

FICO Score 2 can differ from other scores because it uses a distinct version of the scoring algorithm and a different data window.

• It was built on the 2014 FICO scoring model, so it weighs recent payment behavior differently than newer VantageScore or FICO 10 models.
• It excludes certain newer data types, such as alternative credit, that other models incorporate, leading to variation.
• It applies a separate trended‑history calculation, smoothing month‑to‑month fluctuations that other scores treat as spikes.
• It updates the credit‑bureau scoring file at a different cadence, so the snapshot can be older or newer than competing scores.
• Lenders may request FICO Score 2 while pulling a VantageScore for the same applicant, creating an apparent gap between the two numbers.

FICO Score 2 ranges from 300 to 850, and each numeric band signals a specific credit‑risk level.

• 300  -  579 (Poor): Lenders view borrowers as high risk; expect higher interest rates or loan denial.
• 580  -  669 (Fair): Credit is acceptable but not optimal; borrowers may receive limited loan products and modest rates.
• 670  -  739 (Good): Most lenders consider borrowers creditworthy; typical loan terms and competitive rates become available.
• 740  -  799 (Very Good): Borrowers enjoy low‑interest offers and broader credit options; approval is usually swift.
• 800  -  850 (Exceptional): Lenders treat borrowers as the lowest risk; prime rates and premium rewards are common.

Knowing where you fall within these tiers lets you gauge which loan offers are realistic and sets the stage for the next section on the five factors that drive FICO Score 2.

• Payment history - on‑time payments drive roughly 35 % of your FICO Score 2; missed or late bills pull the score down, as discussed in the upcoming 'practical steps to raise your FICO Score 2' section.
• Credit utilization - the ratio of balances to limits accounts for about 30 % of the score; keeping usage under 30 % shows you manage debt responsibly.
• Length of credit history - roughly 15 % of the score comes from how long your accounts have been open; older accounts add stability, a point revisited when we compare FICO Score 2 to newer models.
• Credit mix - about 10 % of the score reflects the variety of credit types (credit cards, auto loans, mortgages); a balanced mix signals diversified borrowing experience.
• Recent hard inquiries - the final 10 % stems from new credit applications; each recent inquiry can shave a few points, especially if many appear in a short window.

FICO Score 2 is still used by a niche group of lenders, chiefly those that underwrite government‑backed mortgages and a few legacy credit‑card programs.

VA‑loan originators - for example Navy Federal Credit Union, USAA and Veterans United - rely on the Experian version of FICO Score 2 when assessing eligibility. Many FHA‑approved community banks and some portfolio lenders also pull this score for first‑time homebuyer applications. Capital One still references FICO Score 2 for certain initial credit‑card offers, using the same Experian data file.

For a quick way to confirm which version your lender checks, see the next section on how to identify the FICO model in use. Experian's FICO Score 2 overview.

Your lender's FICO version shows up on the credit disclosure you receive at application, and you can verify it by asking directly or checking the online portal.

1. Examine the loan estimate or pre‑approval document - it lists the exact score name, such as 'FICO® Score 2'.
2. Contact the loan officer or underwriting department - ask, 'Which FICO Score version do you use for this loan?'
3. Log into the lender's borrower portal - most platforms display the score label beside your credit score.
4. Request a copy of the score report from the supplying bureau - Experian often tags it as 'FICO® Score 2 (for Auto Loans)'.
5. Cross‑check the numeric range (300‑850) and factor emphasis described earlier; if the range matches but the label differs, the lender may be using another model.

For a quick reference on what the 'FICO Score 2' model measures, see FICO Score 2 model overview.

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• FICO Score 2 is a credit‑scoring model used by many lenders, ranging from 300‑850, that evaluates your credit history to predict risk; the examples below show how lenders applied this score in real‑world loan decisions (illustrative, not verified cases).
• Home‑buyer example: A borrower with a FICO Score 2 of 720 qualified for a 30‑year mortgage at 4.75% APR, meeting the lender's minimum 700 threshold and receiving a $25,000 rate‑discount point.
• Auto‑loan example: An applicant scoring 680 on FICO Score 2 secured a 5‑year loan for a $22,000 vehicle at 5.9% APR, just above the lender's 660 cut‑off, with a $1,200 down payment.
• Personal‑loan example: A client with a FICO Score 2 of 750 obtained a $15,000 unsecured loan at 7.2% APR, comfortably exceeding the lender's 720 preferred‑score mark and avoiding a collateral requirement.

If a bank refuses to correct your ChexSystems report, you can file a CFPB complaint.

Gather your ChexSystems report, the dispute letter you sent, and any bank responses, then go to file a complaint with the CFPB. Fill out the online form, attach the documents, and describe how the bank's refusal violates your rights under the Fair Credit Reporting Act.

The CFPB forwards your complaint to the bank, expects a response within 15 days, and aims for a resolution in about 60 days. While the agency cannot force removal, its involvement often prompts banks to reconsider. After filing, continue with the next step of avoiding paid‑removal scams and rebuilding your banking history.

FICO Score 2 drops when a credit bureau records inaccurate information, so you must dispute every error that appears on your credit report. Common mistakes include misspelled names, wrong Social Security numbers, duplicate accounts, balances that are too high, and collections that should have been removed after 7 years.

Start by downloading the latest credit report from each bureau, flag the offending line, and submit an online dispute that cites the exact inaccuracy. Attach a PDF of a government ID, a recent statement, or a settlement letter as proof, then wait the legally required 30‑day investigation period.

After the bureau confirms the correction, refresh your FICO Score 2 view; the updated score should reflect the removal of the penalizing entry. For a step‑by‑step guide, see how to file a credit dispute.