06-19-2007 03:09 PM - edited 06-19-2007 04:51 PM
07-09-2007 10:43 AM
07-09-2007 11:09 AM
If someone has a record of credit for 20 years without many outstanding balances, several inquiries or one or two newly opened accounts would not represent inordinate risk. However, if her history is short (e.g., 2-3 years) and her file contains a group of recently opened new accounts, it would be a reason for lenders to be cautious, particularly if balances are building up quickly or there are early indications of mild delinquency
Older, more established reports generally indicate lower risk. For example, credit histories with accounts open for 10 or more years with few outstanding balances and one or two newly opened accounts would not be considered a high risk, but a shorter credit history with one or two newly opened accounts would represent a higher level of risk.
07-09-2007 11:15 AM
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.