Why are my scores different?

The most common  methodology is FICO and is used in 90% of all lending decisions. And just to make it even more confusing there are 49 different FICO based algorithms across multiple industries. In the mortgage industry, the mortgage FICO scoring model has 9 different algorithms.

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What do we love about credit?

What else is there to love about credit? How about credit history. It might go without saying that the longer an account is open the more it helps. Your credit history is 15% of your credit score and it is an average of your open and active accounts both installment and revolving.

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Credit Card Utilization

What is credit card utilization and how can it impact your credit score? Your revolving accounts make up 30% of your credit score in the mortgage FICO credit scoring model. That is almost one third of your score.

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CREDIT 101 CLASS CHOSEN FOR ABoR ACADEMY

For Immediate Release Contact: Chris Busch President, Elevate My Scores Phone: (281) 612 – 1281 Email: chris@elevatemyscores.com CREDIT 101 CLASS CHOSEN FOR ABoR…

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Change in Public Records Reporting

Change in Public Records Reporting   What is a Public Record? Tax Liens, Judgments and Bankruptcies are credit items that…

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