Three-digit number (300-850) determining loan approval and interest rates, which became gamified optimization target in 2010s via free monitoring apps (Credit Karma 2008, Mint) and online communities (r/CreditCards, MyFICO forums).
FICO Score Components
- Payment history (35%): On-time payments
- Credit utilization (30%): % of available credit used (keep <30%, ideally <10%)
- Credit age (15%): Average age of accounts
- New credit (10%): Recent inquiries/accounts
- Credit mix (10%): Diversity (cards, loans, mortgage)
Credit Hacking Culture
- Authorized User Strategy: Adding to parent’s old card to inherit account age
- Cycling Credit Cards: Opening cards for signup bonuses, optimizing 5/24 rule (Chase)
- Micro-utilization: Paying balance before statement to report 1-2% utilization
- Garden Strategy: Stopping applications 6-24 months to improve approval odds
r/churning subreddit (200K+ members) optimized credit card rewards, earning free flights/hotels via signup bonuses while maintaining 780+ scores.
Social Credit Scores
Dating apps (2015+) rumored to consider financial profiles; China’s Social Credit System (2014) sparked dystopian comparisons. By 2020, 700+ score seen as relationship green flag in financial literacy communities.
Sources:
- MyFICO.com forums
- r/CreditCards, r/churning communities
- Credit Karma user base (110M+ by 2020)