Annual Salary Change?

[Anonymous]

When a credit company lowers your score the agencies know. When you are late on a payment they know. What about when your salary decreases or increases, do they know? An increase could increase your score right? So how would they know?

[pritchardhallhokie]

Salary doesn't affect score.  There is no reason for anyone to know your score when it involves your FICO score.  You might be thinking of a loan when DTI ratio could be a factor.  Bottom line is someone with a $25k salary could have a much better FICO score than someone with a $500k salary.

[Anonymous]

Maybe I said that wrong - my credit and my amount  owed. For example a ratio of income to output? Does that make sense?

I am talking about how the agency sees my income. for example if I had an income of 50,000 and I have 30,000 owed in credit cards, house payments etc... my credit score would show a percent of income and a percent of debt.

But if I got a promotion and now make 100,000 but still owe 30,000 wouldnt that change my credit score due to my income and my debt?

[MarineVietVet]

Income is never used to calculate a score. That's why the CRA's don't know or care about our salaries.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[Anonymous]

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@MarineVietVet wrote:

Income is never used to calculate a score. That's why the CRA's don't know or care about our salaries.

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And it's why it was possible for my Experian FICO to be higher than DH's on our mortgage pull.  I'm a SAHmom and he pulls in the cash, but it doesn't affect our FICO's.

[JonStur]

Some CMS's might ask for your income to give you a general idea of your DTI..but this is only a tool to help you manage your debt.. not something CRA's care about though.