Download - Credit Scores: The Big Picture
Presented by: Tony Budri
The most widely used credit scores are FICO scores, which were developed by Fair Isaac & Company, Inc. (and they're named after their inventor!). Your FICO score is between 300 (high risk) and 850 (low risk).
Score OddsAbove 800 1292 to 1 760 to 799 597 to 1 720 to 759 323 to 1 700 to 719 123 to 1 680 to 699 55 to 1
Score Odds660 to 679 38 to
1620 to 659 26 to
1500 to 600 8 to
1 Below 500
FICO Score APR RateMonthlyPayment Interest
Paid
720-850 5.3% 2776.52 $499,549
700-719 5.9% 2965.68 $567,647
680-699 6.5% 3160.34 $637,722
620-679 7.6% 3530.37 $770,937
560-619 8.4% 3809.19 $871,305
500-599 9.9% 4350.95 $1,066,352
• Past Delinquencies
• Revolving Debt Ratio
• Average Age of File
• Mix of Credit
• Inquiries
35% of aof a Credit ScoreCredit Score
30% of a of a Credit ScoreCredit Score
15% of a Credit Score
10% of a Credit Score
10% of a Credit Score
• Pay off revolving credit cards or at least spread balances evenly at a minimum
• Ask for credit limit increases• Bring past due balances current• Open business credit cards in addition to
personal• Use old credit cards you haven’t used• Pay down “neg-am” loans below loan
amount originally borrowed
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