Posted on September 6, 2008 - Filed Under FICO Formula, is 700 a good FICO score | Leave a Comment
In the previous post, discussed was the different of a credit score and a FICO score, well there is actually a few different FICO scores. One example is the Beacon Score from the credit bureau Equifax. They leased Fair Isaac alogrithm and sell their own form of the FICO score. To make even more confusing [...]
Read More..>>Posted on August 19, 2008 - Filed Under FICO Formula | Leave a Comment
When you think of your credit score, what comes to mind? A credit score is a very broad term. The reason is the many different credit scores out there. If you want to talk about your credit score, your are talking in general. There is hundreds of different credit scores and [...]
Read More..>>Posted on August 17, 2008 - Filed Under FICO Formula, applications | 1 Comment
One of the factors that helps to determine your FICO score is the inquiries. Meaning your applications for credit. The reasoning is based on the fact applying for several different account in a short period of time represents risk. Lenders begin to ask why does a consumer need all this credit. [...]
Read More..>>Posted on July 23, 2008 - Filed Under FICO Formula | Leave a Comment
To really understand and get a good FICO score, you need to know what the scoring range is. FICO scores can range from 300 to 850 and the rule is a higher FICO score is always better. The groupings are usually recognized as:
750 – 850 excellent
700 – 749 very good
680 – 699 good
620 – 679 [...]
Posted on July 17, 2008 - Filed Under FICO Formula, Factors | Leave a Comment
Your FICO score has many different factors that come together to generate your score. One is your Credit Mix and it makes up to 10% of the FICO score. The score wants to see a “healthy mix” of credit. What is does that mean?
They like to see you using many different forms of credit. [...]
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