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uFAQ - Unanswered Frequently Asked Questions - The Credit Scoring Site

The unanswered question is the only one worth asking

December 10, 2013 | By Greg Fisher

    uFAQ - Unanswered Frequently Asked Questions

  1. Which CRA's generic FICO score is the median, 714, reported in the September, 2012 CFPB credit score report?

  2. Whodunit (see Myth #4): Who are the experts who recommend a so-called "credit utilization ratio" of 30% or less?

    "A variety of experts say under 10% is best but 30% is acceptable (Motley Fool)." - Consumers Union

    "Experts recommend that you keep your balance below 30%, or $300 for every $1000 of available credit." - Kiplinger

    "In most cases, experts recommend having a credit utilization ratio of no more than 20% or 30% of the total card limit, but the lower this number gets, the better." -

    "Most experts recommend keeping the utilization ratio well below 30% to avoid your outstanding credit card debt from pulling down your credit score." - (Bankrate)

    "According to some experts, using more than 30 percent of the available credit on your credit cards can dent your score." - (Bankrate)

    "Experts say you should keep that ratio below 35 percent on each card and overall." - (Bankrate)

    "I've been told by analysts that credit companies think 30% is an upper safe limit." - some guy on

    "Some credit score experts will suggest maintaining a credit utilization ratio of less than 30 percent for each debt, while others suggest a 10 percent ratio is better." Money Talks News

    "Experts recommend keeping your credit card utilization below 30 percent on each card and collectively." - Credit Karma

  3. When was the first FICO score introduced-- 20 years ago, or 30 years ago?

    In 2013, Fair Isaac stated, "Since its introduction 20 years ago, the FICO Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries."

    2013 - 20 years = 1993

    Elsewhere, the company states: "Introduces first FICO credit bureau risk score. (1981)."

    2013 - 1981 = 32 years

  4. Discover, what is the FICO credit score model and version on your credit card statements?
  5. Can Arkali explain "below 50%"?


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