YOUR FICO® SCORE
(Provided by Cherie Kesti of Penrith Home Loans)
What are the primary factors that determine a FICO® credit score?
• 35% is based on your payment history for all accounts.
• 30% is based on the amount you owe on accounts.
• 15% is based on how long you have been using credit.
• 10% is based on your applications for new credit.
• 10% based on types of credit used.
What are the minimum requirements to receive a FICO® score?
• At least one open account for six months.
• At least one undisputed account reported to the credit bureaus in the past six months.
• No indication of deceased or disputed on the credit report.
How can consumers improve their FICO® score?
• Bring active past due accounts current and keep them current.
• Keep account balances as low as possible – a good rule is below 25% of the credit limit especially on credit card accounts.
• Request correction letters for any reporting errors.
• Do not close existing accounts. This may lower your credit score
• Limit applications for new revolving debt – credit cards, department stores, etc.
Source: FICO®
RESOURCE GUIDE
EQUIFAX
PO BOX 105873 ATLANTA, GA 30348
800-685-1111
Fraud department:
800-525-6285
TRANSUNION
PO BOX 1000 CHESTER, PA 19022
800-888-4213
Fraud department:
800-680-7289
EXPERIAN
PO BOX 2002 ALLEN, TX 75013
888-397-3742
Fraud department:
888-397-3742 (Choose Option 2)
NOTE: For a direct link to each of the credit bureaus you may go to:
www.arcreports.com
To be removed from solicitation mailing lists – up to 5 years or permanently:
888-567-8688
www.OptOutprescreen.com
To be placed on the ‘Do-Not-Call’ list – permanent deletion of home and cell phones:
888-382-1222
www.donotcall.gov
Federal Trade Commission
www.ftc.gov/moneymatters
http://ftc.gov/bcp/menus/consumer/credit/reports.shtm
For important consumer protection information and how to file a dispute
Consumer Financial Protection Bureau
http://www.consumerfinance.gov
Attorney General
Please contact your state AG office
For Your FREE FACT ACT credit report:
1-877-322-8228
www.annualcreditreport.com
FICO Consumer Web Sites:
www.myfico.com
www.scoreinfo.org
