Any FICO experts or Credit Experts out there???

Question

Are there any courses for certification or any professional designation for credit experts, debt counseling, FICO score interpretation and improvement, etc...etc...etc...???

I've searched online and have only come up with FICO in regards to technology and accounting programs...

My goal is to have a total understanding of how FICO is calculated and to what extent different financial moves impact your credit score...

I understand that you can do that...However that does not tell you everything...

Will that tell you that they credit bureau's use whats called different "scorecards". They will lump you into a category of individuals that share a common characteristic as you do.

For example, if you have a bankruptcy, then you get tossed in a category where everyone has a bankruptcy. Once the bankruptcy falls off your credit report, you get lumped into a category of individuals that don't have a bankruptcy.

This has an immediate effect of lowering your credit score, though you did nothing to impact that change.

Answer 1

My husband and I learned a great deal from just studying our own credit on experian.com. You pay $10 a month and you can view your credit and history anytime. We disputed many old or false credit histories and now our credit is much better. About 100 points higher. It also has a credit score simulator where it points out the things you personally could do to make your score this number or that number. I would recommend doing that first.

Answer 2

There is no way to get this information. When you study credit reports all day long like I do, some times there is just no rhyme nor reason in the scores. But, with this in mind there are things that add to your score and things that subtract and just 1 item that can go either way.
GOOD -- AA as agreed
less than 1/2 the limit on the bank revolving limit
BAD --- 30 days late
60 " "
90 " "
120 + " "
Charge OFF
Collection
Public Records BK Judgments

Hope this helps you

Answer 3

there not a lot of a distinction between both. If some one became searching into your credit historic past say that you ought to get a loan, those 2 will in many situations arise. there's a third one as, which is called transatlantic they use to boot. lots of the time each and every plausible have a distinct credit status, commonly extraordinarily close yet not a similar. They use those 3 to deterime what your score must be. If one has you at 650 and yet another has 625 and the awesome one at 675 they get a concept of ways your are as a shopper to their loans.

Answer 4

I've looked as well...anyone with any insight would be greatly appreciated...

I'm not looking for articles on how to improve your credit etc...etc...etc...

I'm looking to understand the algorithm, the different scorecards, and if I can earn a professional designation at the same time, then even better.

Answer 5

Thats great! you want to learn all this. Financial Destination has a great opportunity for you go to this web page. www.fdirep.com/runningover Also a call on Tuesday will help 9:30 pm eastern time 646-519-5800 pin 0546#
call me after the call 704 450 8877

Answer 6

Check out this link:
http://www.myfico.com/Downloads/Files/myFICO_CFA%20pamphlet.pdf

It tells you how the actions you take affect a sample FICO score. The exact formula is complicated -not to mention secret- because that's how they make their money.