more on FICO
HI,
Continuing with our credit scoring lesson. According to Fair Isaac Corp (FICO), Each category accounts for approximately 20% of the population, below 620, 620-690, 690-745, 745-780, and above 780. When a lender receives your score, up to four "score reason codes" are also delivered. If the lender rejects your request for credit, and your FICO score was part of the reason, these score reasons can help the lender tell you why your score wasn't higher. These score reasons are more useful than the score itself in helping you determine whether your credit report might contain errors, and how you might improve your score over time. Next time, tips for raising your score.
Thanks,
Adam Tarr and Sharon Kotula
Your Phoenix area Real Estate source