The Credit Scoring Site A bleak account 

Wikipedia error on credit score utilization ratio

4 years and running

| By Greg Fisher

After a year and nine months of balderdash, the 678 credit score myth on Wikipedia finally died on May 22, 2009.

But another error beats that one by years. Wikipedia states

"FICO has disclosed the following components and the approximate weighted contribution of each:... 30% – Credit Utilization - The ratio of current revolving debt (such as credit card balances) to the total available revolving credit (credit limits)."

However, what FICO (the credit score company) really says is that an entire category makes up 30% of the importance of the score. The category "Amounts Owed," includes 5 other factors. "Proportion of credit lines used" is only one of the six and, indeed, is listed fifth. For instance, "Number of accounts with balances" is also part of the same 30%, but Wikipedia fails to mention that factor. So, it is mathematically impossible— unless the other 5 factors of the category are all zero— for the so-called "ratio" to account for 30% of the importance of the FICO score.

The screw-up was originated on April 11, 2005 by Wikipedia user who hasn't been seen for over two years, and whose contribution to the world's knowledge includes parts of articles about something called "Opie and Anthony" and the television show "Vega$."

DrVeghead ("Now a doctor! Still, no longer a veghead.") added the 30% notation 11 days later.

While that foolishness remained, other pressing matters were debated: Important issues like the proper use of the apostrophe, and the relative merits of the terms credit agency vs. credit bureau (neither are correct (15 U.S.C. 1681a(d)(1)))

Kat Malone, where are you?

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