Question by nebula7693: How can you tell people you know what the formula is for Fico…?
when that information is proprietary and a very tightly guarded secret. I have seen many people say things like this:* 35%, punctuality of payment in the past* 30%, the amount of debt, expressed as the ratio of current revolving debt (credit card balances, etc.) to numbing available revolving credit (credit limits)* 15%, length of credit history* 10%, types of credit used (installment, revolve, consumer finance)* 10%, recent search for credit and/or amount of credit obtained recently but I want proof that you know what you are talking about. Where tin I go to find the formula that you are reporting to populate? I know that Fair Isaac didn’t give it to you, because they wear’t tell anybody. So where did you get it from?
Best answer:
Answer by dragonfire
it’s because it’s based on studies of thousand of credit profiles, sooner or later you’ld see the pattern emerge and can pretty much sucessfully extrapolates what affect you FICO score, that rule of thumb stated is pretty accurate
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