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  • Writer's pictureGalia Gichon

FICOlogy as found on

Updated: Jul 16, 2019

In every conversation I have with clients or at seminars, making sure your credit report is as solid as ever is absolutely key! That is why I loved this article as found on If you aren't already signing up for their daily easy to read newsletters, what are you waiting for? Here is a little tidbit from the article. The rest is on their site.

Craig Briskin, a consumer and anti-trust class action attorney with Mehri & Scalet, PLLC, wrote this expert's perspective on FICO exclusively for DailyWorth.

Times are tough for that thing we call money. Jobs are disappearing, credit is drying up, and no one seems to know when things will turn around. Part of the problem is how credit reports and scores are calculated. Now more than ever, it's important to avoid any blemishes on your record. People with good credit scores not only qualify for credit, they can also get better rate offers on mortgages and car loans.

Our system outsources most credit rating to three major, private credit bureaus, which are known for mixing up the files of people with similar names and Social Security numbers. The U.S. Public Interest Research Groups (PIRG) and Consumers Union found serious errors in 25% of credit reports.

Fair Isaac Corp. developed the FICO (short for Fair Isaac Corp., get it?) score, and claims that it's based on five major categories of factors - payment history is the most important. But they don't publicly disclose the remaining factors are or how they're calculated. FICO scores range from 300 to 850; 720 is the average score, and that's what you should shoot for. REST OF THE ARTICLE HERE.

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