The Truths we know but do not share

 

When does 20=20,000?
When Trans Union Equifax and Experian compile your data.

There's a hole in the system large enough to fit a house through. It hinges on the fact that technology used by the bureaus is constrained to show how late a payment is made.

The bureaus make no distinction between 20 paid ontime vs 20 grand paid ontime.

36 1s = 750
1 9 = 550

3 years of 1's (on time payments ranging from 20-20,000) garners you a FICO of at least 750. Mix in a 9 and your FICO is 550.

Duck the 9s and get as many 1's as possible.

Use this information to get your FICO as close to the perfect 850 as possible. Charge $20 on two credit cards and pay them on time (or autopay direct from your checking account) to turn your credit card into a FICO score builder.

FAQ One: Do I charge $20 if I owe money already?
Duck9: NO

FAQ Two: If I charge with my parents card that has my name on it does it help me?
Duck9: No, you have to apply for credit yourself.

FAQ Three: I use a debit card and I don't owe any money, does that help my FICO.
Duck9: Bureaus value credit card data most and debit data isn't recorded.

FAQ Four: I don't like credit and would like to just use my debit. What should I do?
Duck9: One alternative is to turn your credit card into a debit by having your credit card automatically pay from your checking account. More on this later...

email us your thoughts to "questions at duck9.com"