Tag Archives: FICO scoring policies

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 OK.  You’ve been doing your home work and you know what goes into your FICO score.  Now let’s consider what does not go into your FICO score. Race, color, religion, national origin, marital status. Age. Salary, occupation, title, employer, date employed or employment history that has

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

Top Ten Steps to a Higher FICO Score

Top Ten Steps to a Higher FICO Score Let’s get back to basics and review  the top ten steps to a higher FICO score.  Everyone seems to love top 10 lists so who am I to buck the trend? These are the top ten steps to a higher FICO score. This is the game plan

Credit myth: Debt to income ratio affects credit score

Debt to Income Ratio does not Affect your Credit Score One of the things that fascinates me about the credit scoring system is how much of it flies in the face of common sense.  Shouldn’t how much debt you have as compared to your income be the most important factor in your dependability to repay