01-09-2008 02:11 PM
01-09-2008 02:20 PM
Since the recipe for calculating Fico scores is top secret, how do we know what's the most effective in improving our scores? I recently paid off three collections and I wonder if it will actually make a difference in my score, or am I running myself ragged? Does score improve each year as old debt gets older?
01-11-2008 06:36 AM
01-11-2008 06:42 AM
01-11-2008 06:52 AM
cobra19 wrote:I am still trying to figure out that 50 point bump for an almost-7-year-old collection.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO