Frequent Contributor
andyaycw
Posts: 298
Registered: ‎07-25-2007
Re: Income doesn't matter to FICO!
FICO doesn't care whether you're a multi-millionaire or someone who makes a dime a year.

FICO is an indicator of how capable, how likely you are of paying back money you borrow.

*A multi-millionaire asks me for $100 and I give it to him, but he doesn't pay me back.
*A hobo on the street asks me for $100 and I give it to him, but he pays me back.

I would rather lend the hobo money in future, rather than the multi-millionaire.

Starting Score: EQ 773, TU 766
Current Score: EX 794, EQ 787, TU 776
Goal Score: 800


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