What's Not in Your Credit Score?
Credit scores are created and computed by a company called FICO,® which stands for Fair Isaac Company. FICO® scores consider a wide range of information on your credit report.
While there are numerous factors that are considered by FICO® when computing credit scores, there are several things that are not taken into account. FICO® does not consider:
- Your race, color, religion, national origin, sex and marital status. US law prohibits credit scoring from considering these facts, as well as receipt of public assistance, or the exercise of any consumer right under the Consumer Credit Protection Act.
- Your age. Other types of scores may consider your age, but FICO® scores do not.
- Your salary, occupation, title, employer, date employed or employment history. Lenders may consider this information, however, as do many other types of scores.
- Where you live.
- Any interest rate being charged on a particular credit card or other account.
- Any items reported as child/family support obligations or rental agreements.
- Certain types of inquiries (requests for your credit report). The score doesn’t count “consumer-initiated” inquiries - requests you have made for your credit report in order to check it. It also does not count “promotional inquiries” - requests made by lenders in order to make you a “pre-approved” credit offer - or “administrative inquiries” - requests made by lenders to review your account with them. Requests that are marked as coming from employers are not counted either.
- Any information not found in your credit report.
- Any information that is not proven to be predictive of future credit performance.
- Whether or not you are participating in credit counseling of any kind.