Senior Contributor
ilovepizza
Posts: 3,071
Registered: ‎05-17-2007
Re: Income doesn't matter to FICO!


TheNewWorldMan wrote:


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.


I would think yes. Have you ever tried to dodge a raccoon at 110 on a Hyundai. Much easier in a Ferrari. :smileyhappy: Sorry a little humor.
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc