What is the equation to evaluate credit?
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I can't find anywhere how to evaluate credit besides fico's explaination of how to raise credit and such. I feel as if this information is withheld, and i wish to find out the equation. Does anyone know precisely what the equation is?
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Answer:
If you are talking about the exact algorithm that Fair Isaac and the three credit bureaus use to establish a credit score, you are never going to see it. The algorithms are considered proprietary information and as such, Fair Isaac and the bureaus keep them secret. The best you can do are the general descriptions of the algorithms which give you a rough estimate of your score.
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