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Credit Score Myths

#Myth15: "KEEP your #utilizationratio under __%." Truth: For #TheRealBigCreditScore, it only counts when the credit score is calculated.

— Greg Fisher (@creditscoring) June 8, 2015

Few know how many in U.S. are unscoreable via conventional credit score models.

— VantageScore (@VantageScore) May 18, 2015

@VantageScore The first thing your little infographic says is that a credit score is essential to buying a house. Not true. #Myth14 #falsity

— Greg Fisher (@creditscoring) May 19, 2015

Myth 13. Payments less than 30 days late affect credit scores.
Truth: Impossible; the credit report system doesn't even record anything less than 30 days late. Unveiled on #FICOFriday (the 13th).

Credit score Myth 12: An 850 in mortgage lending
The highest credit score in mortgage lending is not 850, so striving for that number is a fool's errand. #myth12

Myth 11. The FCRA, and despicable, un-American liars
A message to and request for response from a state in the United States of America #n511 (on 4/1/15 #LyingLenders

Myth 10: The national average credit score
With multiple credit bureaus and credit score models, everybody has their own idea. So let's ask them. #myth10 3/30/15

Credit score myth 9: 1956 (score lore)
Urban legend that FICO credit scores have existed since the 1950s. #myth9 1/26/15

Credit score myths (Myths 1-8)
Myths, urban legends, misinformation and other falsity and nonsense about credit scores. Evidence and debunking. A growing list.

(new) Average

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Scale and range


Fair Isaac


Utilization ratio