LogFAQs > #961048899

s0nicfan posted...

Uh... the actual formula? Everyone has a vague idea of what impacts a credit score and lots of anecdotal evidence about what should in practice keep your score high, but exactly how much is a complete unknown.

It went all the way up to the Supreme Court because somebody wanted to know exactly how their credit score was calculated and the Supreme Court basically said no, they don't have to share it because then somebody might abuse it.

Idk anything about this formula you speak of and never needed it. Just do what the they tell you to do on the FICO page and you're have a high score in due time. Although it may take longer then some depending on your history.

WingsOfGood posted...

If you pay off a big debt like your house even with no credit card involvement, you will tank your score.

Yes, because you're have 1 less open account which in turn affects your account age and again, your credit score. But as it ages, it will eventually rise again. None of this is a secret.

Seriously, if you people actually spent more time learning about them rather then writing them off as some vague, capitalists scam you'd have a high score and taking advantage of all the perks it offers.