Tag Archives: Better FICO score

FICO Scoring Policies: A Deep Dive

FICO Scoring Policies: A Deep Dive Employees of the dominant Credit Scoring System…FICO…are required to sign a confidentiality agreement to protect those company policies that they wish to keep secret.  In my personal quest to gain as much information as I can about FICO Scoring policies I try to interview ex employees to see how

Top 10 Things NOT in your FICO Score

  Top 10 Things Not in Your FICO Score You’ve been doing your home work and you know what goes into your FICO score.   These bills must have priority when times are tight.  Other bills can wait a while if necessary.  Now let’s consider what does not go into your FICO score. Race, color,

FAQ: Should I Close Old Retail Credit Accounts?

Old Retail Credit Accounts No.  It seems like a good idea to close old retail accounts but it’s not.  It’s natural to want to clean house and it’s really one of many counter intuitive practices of the FICO algorithm’s credit worthiness calculations. Old Retail Credit Accounts Help “Time in File” and Debt to Credit Ratio

Sinking FICO Nuked by Spendthrift Spouse

Sinking FICO I am writing about this subject not because I want to or like to talk about money and its effect upon relationships.  No, I am writing about this because the effect of finances on relationships pervades our lives.  The subject can be taboo because of the stress it causes.  Resentments are often repressed

FICO 8 of 760 and Beyond: Becoming a Major Leaguer

FICO 8 of 760 and Beyond: Becoming a Major Leaguer FICO 8 of 760 and Beyond:  Becoming a Major Leaguer For the purposes of this article I am going to assume that you have absorbed the lessons contained in my book available at onhomebuyingandcreditrepair.com and have a more than passing acquaintance with my postings on

Latest from FICO: FICO 8–A Primer

  Latest from FICO: FICO 8–A Primer UPDATE:  FICO  introduced yet another update in 2014.  The Latest from FICO is called FICO 9.  The newest version will go easier on medical debt than FICO 8.  Even more important it will ignore paid collections.  Most lenders will be slow to update so expect FICO 8 and

Credit score to you may differ from lender’s version

Credit Score to You May Differ From Lender’s Version UPDATE;  You can now buy your “auto enhanced score” and your “Real Estate Score” directly from FICO at their website. FICO‘s credit score to you may differ from lender’s version.  FICO has dozens of “boutique” credit scores tailored to different industries.  Some industries care about certain

What does your lender make of your FICO score?

  What does Your Lender Make of Your FICO Score? Lenders tend to break down the credit score range for services into “buckets” or brackets.  These brackets may vary from a few points to a spread of 10-20 points.  This means that even a difference of 1 point can change your credit score range jumping