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Super Contributor
MidnightVoice
Posts: 8,154
Registered: ‎03-25-2007

To increase scores, FICO says..

FICO Says.....Never even think of refinancing a high interest rate mortgage, because that will result in inqs and the closing of one account and the opening of another.  This will persuade FICO you are desperately short of money and have a short credit history.
 
FICO Says.....Never live on some of the money you earn and save the rest.  This will really clobber your scores, and it is obvious to FICO that someone living within their means is a huge credit risk.
 
FICO Says.....Never give up a lousy satellite TV service to get a better and cheaper cable service, because the resultant inqs will make FICO convinced you are desperately seeking credit.
 
FICO Says.....Never change land phone services to get a better deal  because the resultant inqs will make FICO conviced you are desperately seeking credit.
 
FICO Says.....Never change cell phone services to get a better deal  because the resultant inqs will make FICO conviced you are desperately seeking credit.
 
FICO Says.....Never pay of a loan early because FICO will think you are waaay too young to have good credit
 
FICO Says.....Never, ever, in a million years, move to a cheaper part of the country due to a job offer that doubles your salary, because most of the above will hit your score at once and tank it completely.
 
 
:smileyvery-happy:
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Super Contributor
MidnightVoice
Posts: 8,154
Registered: ‎03-25-2007

Re: To increase scores, FICO says..

FICO Says.....Never use apare cash to pay off genuine debts, use it pay down your CC balances instead.  You can always offer to pay for part of the debt for a deletion, and this is not only cheaper, but bertter for your scores!
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Senior Contributor
ilovepizza
Posts: 3,071
Registered: ‎05-17-2007

Re: To increase scores, FICO says..

FICO also says you must but can't unless you do but you are hit negatively if you try but fail if you don't too. hehe.
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Frequent Contributor
steelfan
Posts: 473
Registered: ‎03-06-2007

Re: To increase scores, FICO says..

[ Edited ]


MidnightVoice wrote:
FICO Says.....Never even think of refinancing a high interest rate mortgage, because that will result in inqs and the closing of one account and the opening of another.  This will persuade FICO you are desperately short of money and have a short credit history.
 
FICO Says.....Never live on some of the money you earn and save the rest.  This will really clobber your scores, and it is obvious to FICO that someone living within their means is a huge credit risk.
 
FICO Says.....Never give up a lousy satellite TV service to get a better and cheaper cable service, because the resultant inqs will make FICO convinced you are desperately seeking credit.
 
FICO Says.....Never change land phone services to get a better deal  because the resultant inqs will make FICO conviced you are desperately seeking credit.
 
FICO Says.....Never change cell phone services to get a better deal  because the resultant inqs will make FICO conviced you are desperately seeking credit.
 
FICO Says.....Never pay of a loan early because FICO will think you are waaay too young to have good credit
 
FICO Says.....Never, ever, in a million years, move to a cheaper part of the country due to a job offer that doubles your salary, because most of the above will hit your score at once and tank it completely.
 
 
:smileyvery-happy:


This says it all.  Fico wants you to live well above your means and will reward you for doing so.  If you cant then your treated worse then scum.  Sounds like we know who really invented the FICO scoring system, the FEDS


Message Edited by steelfan on 07-12-2007 04:57 PM
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007

Re: To increase scores, FICO says..

Its not even Friday.
Moderator Emeritus
Tuscani
Posts: 6,182
Registered: ‎03-29-2007

Re: To increase scores, FICO says..

FICO says... Why do we park in driveways and drive on parkways?
 
Wait I know:
 
New Contributor
FICOnater2007
Posts: 56
Registered: ‎07-05-2007

Re: To increase scores, FICO says..

Confucius say: "Man who sit on tack get point..."
 
 

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