Quote:
Originally Posted by Capt. Mike
I know my FICO score and I ain’t broke. It is right there on my bank app. I look at it periodically, and can’t figure out why it wobbles between 848 and 868, where it is now. I had thought they ended about 850, but it seems banks use a slightly different score. I do nothing different one month to the next, every bill gets paid in full well before the due date.
My bank app is freaking a little bit because my spending went WAY UP this past month. Why? We decided to convert our regular IRAs to Roths, so had to cycle some cash through the checking account to pay the estimated tax.
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O.k. Change my comment from "know" to "worry about."
Yeah, FICO scores are all over the place for free now. There are a lot of other "credit scores" floating around, too.
The most commonly reported FICO score is FICO 9, and it only goes from 300 to 850. But, the car loan writers seem to like FICO 8.
I managed to get my real FICO 9 score to hit the perfect 850 for one month. I gamed that by paying all my credit card statement balances before the end of the month. The end of the month is when financial institutions report activity to the credit "bureaus."
Credit scores are a sucker metric. But, it's amazing how many people use them as a measurement of financial wellbeing.