Detailed text transcripts for TV channel - CNN - 20100324:18:02:00
Guess what, the bank is not usually interested in that score. fico focuses on five categories when calculating your score, how much debt you have, your payment history, your debt utilization ratio, which is how much debt you're using versus how much is available. how much you owe, how far fact your credit history goes and your mix of various types of credit. sounds simple enough. the confusion comes in when you look at how certain factors affect your credit score like paying off accounts, closing lines of credit. to help us figure out exactly what is in the credit score secret sauce, scott s...
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