2. What are the top two factors in your FICO score? What actions can one take to earn the most points in these categories to improve a FICO score
Solution:
The 2 top factors in determining a person’s FICO score it the amount of debt owed and the repayment history of the individual. To improve a person’s FICO score in these two areas a person can make sure that all of their payments are made on time and are not late. A person can also make larger payments on their existing debt to lower their current balances. 65% percent of the FICO score is determined by these two factors so if a person wants to improve their FICO score these are the two things they should focus on when trying to improve their credit score.
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