Fico - Study guides, Class notes & Summaries

What two factors count for 65% of your FICO score? a) Income and payment history b) Employment history and outstanding debts c) Payment history and outstanding debts d) Income and outstanding debts - Answer-c) Payment history and outstanding debts Which company has developed the MOST commonly used credit score to evaluate an individual's credit? a) Experian b) Transunion c) Fair Isaac Corporation d) Equifax - Answer-c) Fair Isaac Corporation You should try to achieve a FICO ...

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UGBA 135 Midterm Question and answers already passed 2023/2024FICO Score - correct answer measure of consumer credit risk Highest FICO Score - correct answer 850 Factors determining FICO Score - correct answer Credit report is based on: -35% paying your bills on time over time -30% your debt-to-credit ratio ( borrowing money/ credit limit) -15% length of credit history -10% mix of credit cards and loans (like to see things other than credit card; Rent, any loan (e.g. leasing car)) -10...

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NACA HUD Certification Exam Questions and Answers 100% Correct NACA HUD Certification Exam Questions and Answers 100% Correct Credit Report - ANSWER-a compilation of data about you that has been gathered by credit reporting agencies or "credit bureaus" Length of Credit History - ANSWER-Makes up 15% of FICO score Type - ANSWER-__ of credit use makes up 10% of FICO score New Credit or Inquiries - ANSWER-Makes up 10% of FICO score Amounts Owed - ANSWER-Makes up 30% of FICO s...

UGBA 135 Midterm FICO Score - correct answer measure of consumer credit risk Highest FICO Score - correct answer 850 Factors determining FICO Score - correct answer Credit report is based on: -35% paying your bills on time over time -30% your debt-to-credit ratio ( borrowing money/ credit limit) -15% length of credit history -10% mix of credit cards and loans (like to see things other than credit card; Rent, any loan (e.g. leasing car)) -10% new accounts and recent applications for c...

What two factors count for 65% of your FICO score? - Answer-Payment history and outstanding debts Which company has developed the MOST commonly used credit score to evaluate an individual's credit? - Answer-Fair Isaac Corporation You should try to achieve a FICO score of at least ________ in order to receive a top credit rating. - Answer-760 What is the debt to credit limit ratio for the following individual?Visa Card Master Card Credit Limit $10,000 $20,000 Balance Due $2,000 $19,00...

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what is credit CORRECT ANSWER receiving cash, goods, or services with an obligation to pay later FICO score CORRECT ANSWER -attached to SSN -ranges from 300-850 -determines interest rates -predicts risk what are the three credit reporting agencies CORRECT ANSWER Equifax, Experian, TransUnion what 5 things make up your FICO score CORRECT ANSWER -payment history (35%) -amounts owed (30%) -new credit (10%) -types of credit (10%) -length of credit history (15%) whats a good perc...