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Minimum Scoring Criteria for FICO - December 15, 2009
The question has been asked: “Why does my credit report show 0 for a score?”
The Fair Isaac scoring model has minimum scoring criteria in order for someone to register a FICO score.
1.) There cannot be a deceased notation being reported to the credit bureau. This sounds funny, but happens more than you think. If the wrong social security number is being reported on your credit report and it happens to be that of someone who is deceased, the FICO scoring model will not register a score. This also happens if someone has a joint account with someone who has died. The surviving account holder will not register a score until they update the information with the original creditor.
2.) The credit report must have an undisputed tradeline that is at least 6 months old.
3.) The credit report must have a tradeline that has updated or reported within the last 6 months.
Hopefully this answers the question to those of you who do not register a FICO score or have seen a credit report that has 0 for a credit score. Keep in mind, the lowest possible credit score is 300. A consumer cannot have a 0 credit score. If it shows as a 0, they simply do not have a score. Once a person meets the scoring criteria, any old closed or paid accounts will also be calculated into the score.
Kevin D. Weier
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