UNDERSTANDING FICO SCORING

[Anonymous]

is an oxymoron.

As stated on this forum long ago.

(Might have been Timothy)

[RobertEG]

No one will ever fully understand the intricate nuts and bolts of FICO scoring, for it is a proprietarty trade secret.

But there is enough known, from what FI has discclosed, and the experiences of consumers who post on here, to give some pretty good general, and somethimes very specific, guidance.  I think there is a lot of understanding of FICO scoring on this site. 

I dont see anything contradictory in the terms.

[Anonymous]

Well, okay.  I guess we could say that FICO has given us enough information (via Reason Codes primarily); along with the info one can gather from reports obtained from this site and the FICO estimator; that we know generally how FICO scoring works.  That enables us to make choices that are FICO friendly.

On the other hand, the intricacies are distractingly difficult - which is why it's hard to predict exactly what FICO score impact any specific action will have on any given report.

[fused]

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@Anonymous wrote:

is an oxymoron.

As stated on this forum long ago.

(Might have been Timothy)

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You're correct, it was Timothy.

[Anonymous]

I find this to be a joke.  Nothing to ponder

[fused]

My scores dropped and I cannot see why. All that has changed is a couple more months added to my credit history and having one CC report a tiny balance instead of two. FICO, Smicho!!!!! Oh well!!!! LOL!!!

[haulingthescoreup]

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@fused wrote:

My scores dropped and I cannot see why. All that has changed is a couple more months added to my credit history and having one CC report a tiny balance instead of two. FICO, Smicho!!!!! Oh well!!!! LOL!!!

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You're holding your mouth wrong.