The Credit Life And Understanding:

Life, Credit Repair, and FICO Score:

There are other credit scores, and most are hopeful of making market in roads; some, like the vantage score, are contenders. For new, the clear leader and the one that matter to your credit repair effort, is the FICO Score. It is a practical reality; lenders, with few exceptions, use FICO. And when it comes to our credit repair program, everything from the dispute letters we write to the credit management suggestions we make to our clients revolve around the mechanics of FICO.

Account Age and History The value of Old Accounts:

Fair Isaac rewards established credit. Old accounts, at least those in good standing, are an asset to your scores. Many people starting credit repair decide to simplify their credit life by closing accounts -only to see their scores fall. This can happen when the accounts that are closed represent a significant portion of established credit history.

The Impact will vary:

Fair Isaac puts a stated weight of 15% on this factor, but as with everything else related to the calculation of your scores, the impact depend on the overall content of your credit. Those with considerable account history may see little or no effect from closing older accounts, while someone else with limited credit may experience a significant drop.

Closing Accounts Properly:

You may be able to close accounts with no repercussion, but you most think before you act. Generally, you can close accounts without risk if you have sufficient credit left over after words. The best measure of" of the relationship between the quantity of accounts and your scores. There is no net- benefit to having more than five-revolving accounts, so you may close accounts, so you may close accounts in excess of this number. Older accounts have a positive effect, which you should keep in mind as you decide which accounts to close.