In The News
You’ve had a credit slipup – what does that mean to your FICO score?
May 9, 2010 by wowgreenville · Leave a Comment
According to a recent Ask Sid article in the AARP magazine, FICO (used by many lenders) has revealed the following:
If your FICO score is 680:
- a 30-day delinquency … 60-80 point drop
- maxing out a credit card … 10-30 point drop
- foreclosure … 85 – 105 point drop
- bankruptcy … 130 – 150 point drop
If your FICO score is 780 with few signs of past risky credit behavior, the above points lost could be 50% higher. OUCH!
AskSid, 601 E Street. N.W. ,Washington, DC 20049 or AskSid@aarp.org
