How To Get A Perfect 900 Credit Score
This video and the video series to come after are the most important and informative FICO credit score video you will watch.
Here are some incredibly important points to understand:
1) Free credit scores are not real FICO scores. If you are checking on credit karma or any other free service that is a vantage score. 90% of lenders still use FICO to make their lending decisions.
2) There are 28 different actively used FICO credit scores. I explain a few of them and help shift your focus to the one that actually matters for credit cards.
3) Most people (even the credit gurus) don’t know that the score that actually matters for credit cards (FICO 8 Bankcard) is actually out of 900 not 850. While getting a 900 is not absolutely necessary, it is important to know what factors assist you in getting there. I share every factor in the video and describe about each factor can change based on your history.
4) Your history (amount of account and payment history) matters more than your score. Once you are over a 700, increasing your score should not be the focus. The focus should be on getting as many PRIMARY personal accounts as possible and making on-time payments.
5) The new three FICO 10 scores are not currently being used. Each lender can choose which FICO they want to pull and many do not update the FICO they pull for years (if they ever do).
Please let me know what you think about this video and be sure to watch the following sequence of videos to ensure you understand each factor of credit!
#credit #FICO #creditscores
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Thanks so much for watching this video. See you on the next one!