Do you really know how FICO is calculated?

FICO Breakdown

FICO Breakdown Percentages Chart

FICO, originally Fair, Isaac and Company, is a data analytics company based in San Jose, California focused on credit rating services. It was founded by Bill Fair and Earl Isaac in 1956. Its FICO score, a measure of consumer credit risk, has become a fixture of consumer lending in the United States. 

As you can see from the pie chart here are the numbers:
  • 50% Amount Owed vs. Available Credit
  • 25% Total Amount Owed
  • 10% New Credit
  • 10% Payment History
  • 5 % Types of Credit Used
So what does all this mean? Our experience tells us that if you have credit card debt over 30% of your available credit, your score is going down every month regardless of the fact that you are making your minimum payments. So, once you get over that percent you are essentially paying for the right to pay more interest — this is why you need us to solve your credit card debt now.