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What is a FICO score?.

 · Then your credit score is really irrelevant to you, so I wouldn't waste your time thinking about it. For people who pay their bills on time they will always get the maximum a bank can hand out for their income level/situation. Understanding the FICO ® Score Ranges. Your FICO Score powered by Experian data can range from to and can influence what credit is available to you, how much interest you'll pay and even things such as your utilities and mobile phone options.

What is a good FICO score?

What they really care about is whether or not one of the GSE's is in place to ensure their success, and compensate for any losses. As for the guy with the Ford truck, that's kind of a no-brainer isn't it? No bank loans for ford trucks, no money for Ford. It's in there best interest to finance you, and hell yes at a low rate. Now they have a repeat customer that otherwise didn't care for them. Not exactly sure what you are talking about but a LOT more lenders other than mortgage companies use FICO scores including the vast majority of credit card companies and the vast majority of auto finance companies use an auto enhanced FICO Score.

It ain't the size of the boat that makes ya seasick It ain't the size of the scores that sell a lender, it's the activity going on under the sheets. The guy with the goal, of an With an , or even a high , you couldn't possibly have that kind of history.

I'd damn near step out on a limb to say it's impossible. Numbers are good for them to help paint a picture of what kind of borrower you might be, because they don't otherwise know you. But you completely satisfy the terms of a mortgage Call me on it if you want, but I give a dollar to a dime I can show you how to take 10 of those cards totally maxed out, put a little spit and elbow grease to them, and I'll make it look like your grammas underwear drawer, all folded and neat.

This is all so funny to me. Makes me think a that jingle "Potato Patatta, tomato, tamata And PC or Mac are both conputers. The little apple on the lid don't mean it's a Mac. Just means it resembles one before you turn it on. Is it different than a credit score? If you use one system to put one together, and a different one to put together the rest, then mix them both up together, did the information change?

Hell I don't know. Like I said, I don't care. What I do know is the same three companies crunch 'em both ways, and none of them ever match each other. Which one is right? Which one is better? Lenders that hand out that green stuff choose one over the other based on what? Who knows, but I know if I was going to pay someone to let me know when my fires had enough salt, and had just three idiots to choose from, I'd use the same idiot every time so all my fries were the same.

But whether or not he useed his right or left hand to shove them in his face I'm pretty sure wouldn't change his answer. The mix of credit types you use also impacts your score. This considers credit cards, retail accounts, finance company account and mortgages. By accurately completing a series of questions regarding your financial history, it's possible to determine an estimate of what your current score is.

Your FICO score isn't static, and you have the power to improve it. Start by checking your current score, and then identify areas in your life that may have negative impacts.

Useful ways to improve the situation include:. FICO scores are the most commonly used credit scores throughout America. Your score determines how much you can borrow, and what rates you can get. So, whether you are buying a new car or taking out a credit card, it pays to have a strong FICO score. Remember that your FICO score is a snapshot, with the potential to change. Take the necessary steps to improve your credit score now, and reap the benefits when you need them. Get your free credit report and score every month.

Search Now you can search stock related news and private companies such as Airbnb. No matching results for ''. Try a valid symbol or a specific company name for relevant results. Give feedback on the new search experience. What is a FICO score? What is a good FICO score? How is your FICO score calculated? The score comprises five main components derived from your credit history, and each component contributes an amount to the total based on its importance: Length of credit history: Payment history Your payment history factor derives from your ability to pay credit accounts on time.

Amount of debt Your amount of debt represents the amount of money owed. Length of credit history Longer credit histories usually increase your credit score. New credit Opening several credit accounts in a short period indicates you are a greater risk for lenders. Mixed credit The mix of credit types you use also impacts your score.

Credit scores are often used in determining prices for auto and homeowner's insurance. A minimum score of is needed to pass this prescreen, though most lenders require scores of or less.

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Now they have a repeat customer that otherwise didn't care for them. Credit score in the United States is a number representing the creditworthiness of a person, the likelihood that person will pay his or her debts.

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