The Credit Scoring Site A bleak account 

False information in the domain consolidatedcredit.org, Part 1

Statement that a credit score utilization ratio importance is 30 percent of the score is nonsense. Credit Score Myth 7. #Myth7

| By Greg Fisher

According to Fair Isaac, the credit score company, "How much of the total credit line is being used on revolving credit accounts" is one item in a category whose importance in determining a Fico credit score is 30%.

The document containing that information describes the category this way

2. The Amounts You Owe - Approximately 30% of a FICO Score is based on this information:
•    Amount owed on all accounts
•    Amount owed on different types of accounts
•    Balances owed on certain types of accounts
•    Number of accounts which carry a balance
•    How much of the total credit line is being used on revolving credit accounts
•    How much is still owed on installment loans, compared with the original loan amounts

However, an item in the internet domain consolidatedcredit.org errs. It gives the false information: "Your credit utilization ratio is the percentage of your available credit that you actually use. This ratio accounts for 30% of your credit score calculation and tells your future lenders about how you use your credit."




That is Credit Score Myth 7. If any such ratio in a category weighted at 30% is 30%, then there is no room left in the category for any other information. That is nonsense. What the document states is impossible.

The website at bbb.org links the name "Consolidated Credit Counseling Services, Inc." to the domain.




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