Those bureaus should also provide credit summaries throughout the year, that way people will be better aware of what condition that they are in. I would change the presentation of the FICO score from a gas gauge like design to an arrow. This would show the viewer how far they have gone, and how much further that they have to go. In my opinion, the ratio at which a FICO score is determined, could be altered to better represent the individual. I would change it to 40% payment history, 35% amount owed, 15% variety in credit, 5% length of history, and 5% miscellaneous. In this new format, I tried to base it more on hard work so beginners could have an easier way to begin accumulating credit. The last, and most unlikely change that could be made to the FICO score system, is to only have one bureau to receive the score from. This alteration to the system could create a more secure score for the
Those bureaus should also provide credit summaries throughout the year, that way people will be better aware of what condition that they are in. I would change the presentation of the FICO score from a gas gauge like design to an arrow. This would show the viewer how far they have gone, and how much further that they have to go. In my opinion, the ratio at which a FICO score is determined, could be altered to better represent the individual. I would change it to 40% payment history, 35% amount owed, 15% variety in credit, 5% length of history, and 5% miscellaneous. In this new format, I tried to base it more on hard work so beginners could have an easier way to begin accumulating credit. The last, and most unlikely change that could be made to the FICO score system, is to only have one bureau to receive the score from. This alteration to the system could create a more secure score for the