
We'll be discussing the FICO(r), score 9, and explaining what it all means. We will also talk about MyFICO and other options for a high FICO(r). Also, we'll discuss how rent payments can impact your credit score. Before we dive into the details, let's first discuss the three main factors that impact your FICO(r). You will be curious to learn about each one.
FICO(r), Score 9
While FICO(r) Scores have been around for over 25 years, they are perhaps the most commonly used and widely known. Lenders began using FICO (r) Scores for the first time in 1989. Many things have changed since then: consumer requirements, data reporting practices and credit-granting requirements. This is what you need to know regarding the credit scoring system. You should always keep your score as a priority!
The FICO(r), 9 Score has seen many changes from its predecessors. Your score does not include medical debt. This means that if you have received a bill from your doctor for surgery, your score will likely be lower than if you had a credit card bill for the same procedure. You can build credit by making rent payments, as collections won't affect rental history.

Your credit score is affected by your rental history
While you might not think that your rental payments affect your credit score, they do. This information is reported to credit bureaus. One factor that affects credit scoring is whether you have made timely payments or missed them. Credit scoring models consider both your rental payment history as well as your credit history. However, there are some important things you should know about this credit reporting data. Continue reading for more information.
Experian has found that 75% reported a credit score increase when they include rental payments in their credit report. This can increase your credit score by anywhere from 11 to 29 percentage points. Although it may not seem like much, this will make a significant difference in your credit score. Although it won't have an immediate effect, the change can significantly improve your credit score. Read on to find out more about how your rental history affects your credit score.
MyFICO
MyFICO score 9 can be confusing if your credit score is low. It is free to access from your lender, credit counselor, or credit card issuer. Your score can be affected by a negative credit history. You can however dispute it. The good news is that there are ways to improve your score and keep your interest rates low. Listed below are some ways to do this.
Medical Collections. This is different from the FICO scores in which medical debt was considered to be a major factor in determining your credit score. The Consumer Finance Protection Bureau says that medical collections have a lower impact on credit scores than other types. However, medical collection accounts shouldn't be completely ignored. The FICO formula now considers medical collections, although it is not known how much. These collections are not as significant than other types and won't affect your credit score as severely as other types.

You have other options for getting a FICO (r) Score
FICO(r), or credit scores, have been around for more than 30 years. They are an easy measure of creditworthiness and are closely related to each other. FICO(r),9 is the current version and was developed to be more credit-friendly for consumers. FICO(r) 9 takes into account rental history, payment history, medical debt, and makes these factors less important. You can also get a FICO(r), Score 9, by applying for debt consolidation loans, student loans, or home equity loans.
Although FICO(r), 9 may not seem like much, there are still things you can do that will help improve your score. You can make your payments on-time, for example. This will increase your FICO score by 25 percent. You can access up to 24 months worth of payments using a service such as LevelCredit that reports to TransUnion or Equifax. This fee is a one-time payment. Remember that not all lenders yet use the newer model so you might have to wait a bit before your FICO score is available.