Valued Contributor
Posts: 2,374
Registered: ‎03-15-2007
Re: Income doesn't matter to FICO!

bobkelly wrote:
Can anyone explain why one's income has no bearing on a FICO score? Seems to me that this plays a big part in creditworthiness, yet FICO doesn't use income (or net worth) as part of their formula in creating a FICO score.

Does having a Ferrari make one a better driver than owning a Hyundai?

More income doesn't necessarily make you a better money manager. Ask Michael Jackson.
- - - -
in a credit-scoring postnuclear Stone Age...