There are many factors that are taken into account at what makes a profile great. This is how everything is weighted as far as the breakdown of a FICO score.
FICO Score
- Payment history (35% of your score): Whether you’ve paid past credit accounts on time
- Amounts owed (30%): The total amount of credit and loans you’re using compared to your total credit limit, also known as your utilization rate
- Length of credit history (15%): The length of time you’ve had credit
- New credit (10%): How often you apply for and open new accounts
- Credit mix (10%): The variety of credit products you have, including credit cards, installment loans, finance company accounts, mortgage loans and so on.
A client could have a great profile but one of these factored more against his results then the other. When putting a client through funding we inform them of how to optimize their profile. If they have to much new credit the results can be poor due to length of credit history or if they have to many inquiries they can be declined for "credit searching".
We try to make sure their amounts owed and payment histroy are great before funding so if they did not get funding it is most likely the case that they did not have adequate credit history, or to much new credit, or not enough credit mix (also referred to as credit depth)
