GOOD info on FICO...opinions???

Discussion in 'Credit Talk' started by gatita, Jan 21, 2002.

  1. gatita

    gatita Member

    This is from the website at :
    http://www.mortgagecounselors.com/loanprocess.html

    Obviously these are excerpts only.If you want the whole deal, read the whole thing...but this is interesting...anyone see any correlations? Has anyone seen these percentages before?

    +++
    "Credit scores are based on five factors: 35% of the score is based on payment history, 30% on the amount owed, 15% on how long youâ??ve had" credit, 10% percent on new credit being sought and 10% on the types of credit you have. "
    ++++

    Theres also a chart there that gives interesting "general guidelines for credit scoring" with scores and stuff like # of late pays, etc. It's that chart I've found so interesting...tried to post it but the table data gets weird looking in this format.

    What do you guys think?

    Sarah
     

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