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5 Questions Concerning Your FICO Score

5 Questions Concerning Your FICO Score

1. What is the range of a FICO score?

An actual FICO rating is merely a three digit numeral ranging from 300 to upwards of 850. It is generally considered rare to have a score below 500. Conversely, it is also not common to be rated higher than 850.

2. Is my FICO score the sole determining factor whenever I apply for credit?

No, certainly not. Other elements possibly involved are the level of debt, your income bracket, past and current employment, and payment history.

3. Why use a FICO score at all?

Despite popular notions, your FICO score is meant to help you, as they are objective and provide for a more speedy method to assess a person’s credit risk levels.

Should you have been unfortunate to experience credit problems in your past, a FICO score will not allow those incidents to burden you in the future. Your present FICO score will be less impacted by these past debt indiscretions, and will disappear much quicker, provided you have been doing all you can to pay your current obligations on time. If a human being were employed to analyze your credit history, undoubtedly emotional distractions will result.

Consumers are able to have their applications processed and decided upon in a much faster manner. Since FICO scores are requested by lending professionals and received immediately, you will have no need to wait. Applying for credit credit is now much more streamlined than it was years ago.

Usually, applying in person entails taking the time to fill out a form and providing all necessary financial details, including past and present debts, income, etc. With the advent of the Internet, it will only consume seconds to ascertain if you are approved or disapproved.

4. What is not included in a FICO score?

A FICO score holds no bias, there is little chance of human influence as to whether a score is increased or lowered. You know a credit lending authority is receiving your FICO score that is widely accepted as a fair evaluation containing only objective elements.

If a lending authority examines your score without notifying you, that inquiry is not reported, and neither is it used to calculate your FICO score.

Any other pertinent facts not found in your credit report are not included to calculate your FICO classification.

5. What are other determinants not participatory to your FICO rating?

  • Racial background cannot be used
  • Being identified as male or female will not be an issue
  • Origin of ethnicity is not participatory
  • Marital status cannot be factored in
  • Skin color will not be an influence
  • Place of residence is not a consideration
  • Obligations regarding child support are excluded
  • Business entities looking into your score
  • Employer inquiries into your credit history

While the following are also not included in your credit score, they may be deployed by credit lending authorities.
Your salary will not be used to calculate your credit score.

  • What you do for a living is not a determinant. No matter if you are a clerk or cashier, or you are the head of a department at the hospital, these traits are not indicative of your FICO score.
  • Your title at your place of employment is not used
  • Who you work for is not used
  • Your employment history is not used
  • The interest rate on any of your credit cards or credit accounts are not used


As you can see, your FICO score is not a beast meant to burden you, nor is it randomly chosen out of thin air. There is an organized logic that is involved in its creation, calculation, and determination. The aforementioned items are either included or excluded to determine if you will be approved for a line of credit at a lending institution.

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