FICO scores, credit card and loan rates?

[b5blue]

  There's 2 things I can't find online....#1 is exactly how your FICO score is calculated and #2 is the exact formula for Coca Cola! 
I've been told to NEVER cancel a credit card as it will drop you FICO score (By the lady who gives financial advise on PBS.) yet my Chase rep. just said you may get a better interest rate from them if you cancel any cards you don't use. One of them is wrong!
  So how come if your FICO score is sooooooo very important to everything is it a total mystery? Another thing is how do "they" get to tie EVERYTHING to your SSN? It says right on the card "To be used for Social Security Only" if I remember correctly yet try to do anything without it. 
  My FICO score is tied to my car insurance! You could be a perfect driver yet pay more from having a bank make a mistake! Anyone work for or have inside info on how all this works?
  I'm not in any trouble and my total indebtedness is VERY low so I'm not working on any real problem (I divorced my only credit issue years ago.) just wondering. 

[BigBlackDodge]

They roll dice, consult the stars and read the tea leaves in the bottom of your cup.

Tell me I'm wrong!


BBD

[draftingmonkey]

BBD is pretty close.  From what I remember the scores are calculated using proprietary software that crunches all kinds of factors, including if you have a note from your mother to have a credit score.
The score also looks at things like how much credit you have, how much debt, the length of time credit cards, monthly payment history, and so on.  By dropping a credit card you lower the amount of credit you have available and if it is older card it also effects your credit history rating.
I am sure a real financial guru will be able to come along and give a very sophisticated answer.  Best stick to BBD's idea; rolling dice consulting stars and reading tea leaves. It makes more sense.