In this second part of a 3 part series we are going to talk about the FICO credit score. In the first part we talked about the pros and cons of credit monitoring. FICO scores are critical to your ability to get a new credit card, car loan, or home,...
These days credit monitoring services are very popular. Your credit rating is an important part of life. It can have a major impact on whether you save money or end up having to pay more than you’d like to on different types of loans. So that you can make sure...
Can you get a VA loan with bad credit? The good news is that many veterans have qualified for VA home loans with bad credit. If you’re looking to take out a VA loan but have less than perfect credit, you might still qualify for a military home loan. At...
You’ve probably heard some credit terminology tossed around: FICO, credit bureaus, revolving credit, etc. Most people at least understand the basics of many credit terms and concepts but a particular point of confusion is what are the three credit reporting agencies and what do they do? These agencies, or bureaus,...
So what is the FICO score meaning? FICO stands for Fair Isaac Corporation or company. Usually when a person talks about a FICO score they are talking about your credit. Credit scores are formulated based on a consumer’s personal financing information, and they’re used to measure a consumer’s risk of...
Unfortunately, it is simply not possible to remove accurate information from your credit report, and no one can do it for you. But before calling every credit assistance number you see on t.v., try out a few credit repair tips on your own. No need to spend a lot of...
The Fair Credit Reporting Act (FCRA) is federal legislation that was passed in 1970. It determines who can access or collect a consumer’s credit information and how that information ought to be used. The purpose of FCRA is to protect the rights and privacy of the consumer and make sure...
Your credit report is a record containing your personal information and credit history. Creditors, banks, insurers, and even employers can request access to your credit report from a credit bureau. They can then use your credit report to evaluate how you manage debt, whether or not you make your payments...
Once you start accruing your credit rating and applying for loans with lenders who are very interested in what score you have, you may wish that you had a perfect credit score. It would certainly make interest rates a lot lower. So, what is the highest credit score and how...
The first thing to straighten out when discussing what designates a good credit score is the definition of “good.” Each individual lender, bank, landlord, etc. has their own personal definition of a good credit score. Conforming to these distinct definitions is more important and applicable to life, but FICO and...