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...
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...
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...