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Moderator Emeritus
Posts: 32,865
Registered: ‎08-04-2007
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Re: Is the FICO formula fair?

Aside from util, tackle any baddies you may have. It says "Good" which indicates some older baddies holding your FICO back.

Established Member
Posts: 15
Registered: ‎04-01-2013
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Re: Is the FICO formula fair?

[ Edited ]

I'm inclined to agree with Walt_K....  


I'm 24, with the same AAoA at 3 years 4 months, however my last score I checked was a 691....that's with a 29% utilization, 11 TLs (10 of which are student loan accounts, 1 CC with age of only 1 year, 8 months), and perfect payment history though.


I'd say payment history and utilization are a MUCH bigger factor in your score than the length of credit history... 

Valued Member
Posts: 78
Registered: ‎03-20-2013
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Re: Is the FICO formula fair?

Walt_K wrote:

BuffaloBoy wrote:

Walt_K wrote:

What is your utilization?  I would expect you to have a higher score if you have no negative information on your reports even if you do have a thin file.  What kind of balances are you carrying on your credit cards in relation to their limits?



I have one collection account, that was not even my fault. Don't get me started on that. That's the only negative out of my 7 accounts. 

That explains it.  Whatever the circumstances of that collection, so long as it is on your report, it is going to be scored.  If that were removed, you'd likely be well into 700s.


Wow. I didnt think that one account would drag it down. I guess I was wrong. Ugh. 


Word to the wise, don't co-sign. 

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