Credit Tips: Credit Report Scoring Criteria

Posted On: January 1, 2006

Author: John
Posted: Wed Jul 07, 2004 10:33 am
Post subject: Credit Report Scoring Criteria

2/27/2002 5:35 pm CDT

I’ve seen quite a few sources that give a “general” breakdown of FICO scoring, but I can’t find anything that gives a breakdown of what a negative (or positive) mark on your report counts for. There is obviously a number that relates specifically to that mark, but I can’t find it anywhere. Is there anywhere out there that gives this type of information?

Author: Eugene
Posted: Wed Jul 07, 2004 10:34 am
Post subject: Credit Report Scoring Criteria

2/27/2002 10:17 pm CDT

Is there anywhere out there that gives this type of information?

No. It’s proprietary.

Author: mouse
Posted: Wed Jul 07, 2004 10:34 am
Post subject: Credit Report Scoring Criteria

2/27/2002 10:39 pm CDT

http://www.ftc.gov/bcp/creditscoring/present/sld001.htm

Author: Eugene
Posted: Wed Jul 07, 2004 10:35 am
Post subject: Credit Report Scoring Criteria

2/27/2002 10:57 pm CDT

Mouse, this slide collection is taken from a public forum FTC hosted in 1999. The transcript can be found here: http://www.ftc.gov/bcp/creditscoring/creditscorexscript.pdf. It says on page 17 (starting line 22) that slide 8 (http://www.ftc.gov/bcp/creditscoring/present/sld008.htm) does not represent how different factors REALLY affect FICO score. This is just an example, like one that you and I could have done ourselves.

However, that forum and slides still give you a good GENERAL idea of how FICO works