How is a credit rating determined?

Answer The Fair Isaac Corporation (FICO) credit score determines whether a consumer receives lines of credit. The exact mathematical formula varies depending upon the consumer and his personal credit hist... Read More »

Top Q&A For: How is a credit rating determined

How Is an MMI Rating Determined?

The maximum medical improvement (MMI) percentage rating is determined by the doctor. He takes into account the level of permanent impairment suffered and adheres to the guidelines of the American M... Read More »

What is the highest rating you can get on a credit rating?

The FICO credit score ranges from 300 to 850, with 850 being the highest possible score. The FICO score, calculated by the algorithm created by the Fair Isaac Corporation, is the most widely used c... Read More »

What rating is a credit rating of 780?

A credit rating of 780 shows that you have near perfect credit and will likely qualify for the best rates lenders have to offer. According to the Fair Isaac Corporation, only about 40 percent of pe... Read More »

Does it hurt a credit rating to cancel a paid off credit card?

Closing a paid off credit card can lower your credit score because that card will no longer report that you are on time with your payments each month. In addition, it will increase the percentage o... Read More »