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Credit Scoring (Part 20 of 20) – Final Review

 July 26, 2017

What Is a Credit Score? A credit score is a mathematical model consisting of numerous variables used to estimate one’s credit risk. The most commonly used model is called FICO® (named after its creator, the Fair Isaac Company). Everyday, the FICO credit score is used to evaluate millions of people who are applying for some […]

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Credit Scoring (Part 19 of 20)

 July 24, 2017

How to Order Your Credit Score You can order your credit score at the three credit bureau websites or you can simply go to http://www.myfico.com and order all three online and view them instantly. That website will give you information explaining why your credit score is low or high, what you are doing right and […]

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Credit Scoring (Part 18 of 20)

 July 19, 2017

Credit Scoring – Frequently Asked Questions (3) What is Rapid Rescoring? You’ve probably come across claims made by certain companies that they can fix your credit in 24 hours. Most of these claims are fraudulent, but you can get your credit score recalculated in a few days by any one of the 200 companies who […]

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Credit Scoring (Part 17 of 20)

 July 17, 2017

Credit Scoring – Frequently Asked Questions (1) Does Checking My Credit Score Lower My Credit Rating? Checking your FICO score or pulling your own credit report does not hurt your credit rating. The credit scoring system is set up so that inquiries made by a consumer checking his or her own credit score or credit […]

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Credit Scoring (Part 16 of 20)

 July 12, 2017

How to Improve Your Credit Score: An Illustration This section illustrates just how quickly your credit score can increase if you pay your bills on time as agreed and pay off debt, pay down debt, or don’t accumulate anymore debt. Below is a real person’s credit scores and information from her credit reports. In just […]

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Credit Scoring (Part 15 of 20)

 July 10, 2017

How to Establish a Credit Rating Perhaps your problem isn’t bad credit; it is that you have no credit at all or insufficient credit. If you’ve never financed a car loan, a computer, or other major purchase, how do you begin to establish credit? How do you get approved for a car loan? Doing the […]

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Credit Scoring (Part 14 of 20)

 July 5, 2017

How to Establish a Credit Rating Perhaps your problem isn’t bad credit; it is that you have no credit at all or insufficient credit. If you’ve never financed a car loan, a computer, or other major purchase, how do you begin to establish credit? How do you get approved for a car loan? Doing the […]

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Credit Scoring (Part 13 of 20)

 July 3, 2017

How to Improve Your Credit Score You’ve probably heard many times by now how to improve your credit score: pay your bills on time each month and don’t accumulate too much debt. In a nutshell, that is all you have to do. Eventually, as your late payments, charge-offs and other sins of the past fade […]

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Credit Scoring (Part 12 of 20)

 June 28, 2017

How to Improve Your Credit Score You’ve probably heard many times by now how to improve your credit score: pay your bills on time each month and don’t accumulate too much debt. In a nutshell, that is all you have to do. Eventually, as your late payments, charge-offs and other sins of the past fade […]

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Credit Scoring (Part 11 of 20)

 June 26, 2017

How to Improve Your Credit Score You’ve probably heard many times by now how to improve your credit score: pay your bills on time each month and don’t accumulate too much debt. In a nutshell, that is all you have to do. Eventually, as your late payments, charge-offs and other sins of the past fade […]

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