Breakdown Of Fico Score Percent and Points

[Anonymous]

Payment history 35% or 297.5 points

Amount of Debt  30% or 255 points

Age Of Accounts 15% or 127.5 points

New Credit 10% or 85 points

Credit Mix  10% or 85 points 

[Thomas_Thumb]

Unfortunately, Fico scoring models are a bit more complicated than their presentation overview for the masses.

Fico uses segmentation to assign credit files to one of many scorecards associated with each of their scoring models. Fico 08 has 12 distinct scorecards and Fico 04 10 scorecards. Each scorecard has its own min/max scores and these scores are a subset of the total 550 point range (scale 300 to 850). 

Hypothetical examples of score range by scorecard:

1) Tier one clean scorecard may go from a low of 750 to a high of 850 => range = 100

2) Tier five clean scorecard may go from a low of 620 to a high of 820 => range = 200

3) Tier eleven dirty scorecard may go from a low of 320 to a high of 720 => range = 400

Generally speaking thin files with short credit history show greater disturbance in score when a factor changes (less damping if you will).

[CH-7-Mission-Accomplished]

Is there a reason that they started with 300 instead of 0 since that is the minimal score?  There is no imaginary scoring above the maximum of 850, e.g., showing a 1000 scale with 850 max possible.

[Anonymous]

C'mon TT, just agree... We all want to think we cracked the code - at least in my case

OP, I did the exact same analysis when I started taking credit seriously. I also failed to disgard the 300 point false bottom. You are not alone.

Fico is so much easier to understand before you start learning. In the end I have settled for: pay my bills on time, dont over-extend, only apply for credit when I need (want) it and watch my seeds grow. The rest will work itself out. It is fun to guess though and at times to play the game.