“FICO” Secrets How is my FICO score determined?

Payment History………………….………………………………………………………….35%

􀀹 Have past credit accounts been paid on time?

􀀹 Any “public records” or collection items?

􀀹 Details on late missed payments?

􀀹 How many accounts show NO late payments?

Amounts Owed ……………………………………………………………………………..…30%

􀀹 How much do you owe on all credit accounts?

􀀹 How much is owed on different types of accounts?

􀀹 How many accounts have a little or NO balance?

􀀹 How many accounts have a HIGH balance?

􀀹 What percentage of the total available credit is used on each account?

􀀹 How much is still owed on installment accounts?

Length of Credit History …………………..…………………………………………15%

􀀹 How long have your credit accounts been established?

􀀹 How long have you had specific accounts?

􀀹 How long since you’ve used an account?

New Credit ………………………………………………………………………………….…….10%

􀀹 How many new accounts do you have?

􀀹 How long since you’ve opened a new account?

􀀹 How many (and how long ago) requests for credit have been made in the recent past?

􀀹 Has my recent history been good following past credit problems?

Types of Credit in use …………………………………………………………………..10%

􀀹 Is my credit “mix” healthy?

􀀹 What kinds of credit accounts do I have and how many of each?