Comments on: Follow up to Yesterday’s FICO Question

By: Bozo

Bozo — Sat, 10 May 2008 17:43:08 +0000

Re: DTI versus Debt-to-Credit

I stand corrected.

Yours,

Bozo

By: Heidi

Heidi — Wed, 07 May 2008 13:43:28 +0000

@ Ellen – lenders take the FICO score and DTI into consideration when determining credit worthiness. FICO does’t use your DTI, lenders do. See my comment in yesterday’s post for more detail.

By: Ellen

Ellen — Wed, 07 May 2008 06:30:26 +0000

I’m a little confused, but perhaps I’m just reading it incorrectly. Liz states in the very first sentence that FICOs don’t take income into account “at all.” But then she goes on to say that it DOES take into account, “whether your payment will eat up “too much” of your income [and] the stability of your income…”

Doesn’t the second part completely contradict the first? Income is a factor from the way I interpreted what Liz had to say. Perhaps they don’t look at the exact numeric amount, but income does affect your score to an extent. That seems to be quite a bit more than “not at all.”