payment history: Why's My FICO so low?
- 04/04/08 11:00 AM
Wonder why you're FICO's so low? Do you pay your bills on time and are never late but can't seem to figure out you're score doesn't reflect your payment history? Because that's not the only factor in the mix. When determining your scores, the 3 bureaus utilize a formula to calculate your score. While payment history is the MAIN factor, it's not the only one. Here's how it breaks down: Payment History accounts for 35% of your score. Simple solution: Pay your bills on time.Amounts Owed accounts for 30% of your score. This is usually the culprit for most people and it mainly affects (4 comments)