Question by Stare At Me: What is the difference between FICO and Risk Score?
I have two credit card accounts that provides free scores each month…. one uses FICO and other uses something called “Transunion Risk Score” which is 40 pts LOWER than my FICO. The FICO is also provided by Transunion.

So which is more accurate and likely to be seen by the lenders?

It also lists this as one of the reasons why my score is lower:

Too few recently opened bank installment accounts (Reason 41)

Is this referring to car loans?

Best answer:

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Question by QNA: Would it be better for my FICO score to pay down balances over time…?
… as opposed to paying everything off in one sitting?

I was just trying out the FICO simulator, and it seems that if I pay off the entire balance at once, my “simulated FICO score” does not increase as much as when I indicate that I will pay “x” amount every month for 3 months (eventually paying off the balances).

So…. even if I have enough money to pay everything off at once, would it be better for my FICO score to pay it off over a period of 3-6 months???

Best answer:

Answer by Dr. Deth
if the interest rate isn’t too high pay over 3 months – if it’s high – pay off now. just paying on time and keeping balances low or zero will help you in the long run

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Question by TumbleTim: MyFico.com question : How do I find my fico scroe without paying over 40 bucks?
I watch Suze orman on television and she says I can check my Fico score on myfio.com … I’ve seen my credit report, I don’t need that … I don’t need a subscription to myfico.com … all I want is a number … I want to know if I am a 700 a 750 … a whatever…. Then olny thing I can click on that costs under 40 bucks is the “individual fico scores” and they want 14.95 times 3 (for all three credit agencies)…. Is there a cheap way I can find my fico score without paying a fortune? Thanks in advance for any answers…i really do come back to read what everyone has to say.

Best answer:

Answer by Shockey Monkey
Go to experian.com, part with some cash and get a number.
That’s about the only way without anoying subscriptions.
Alternativly, get pre-qualified for a mortgage they may tell you your number.

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Question by mr. a a.: what is term “mid fico score”?
this term is used in subprime lending

Best answer:

Answer by Dusti
The middle score is used in mortgages lending by taking all three credit bureaus scores and selecting the one in the middle. Example: If your Experian score is 680, TransUnion 712 and Equifax is 690, your middle score will be 690 by taking the lowest score and highest score and taking the one in the middle.

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Question by : what is term “mid fico score”?
this term is used in subprime lending

Best answer:

Answer by Dusti
The middle score is used in mortgages lending by taking all three credit bureaus scores and selecting the one in the middle. Example: If your Experian score is 680, TransUnion 712 and Equifax is 690, your middle score will be 690 by taking the lowest score and highest score and taking the one in the middle.

Add your own answer in the comments!

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