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Fair credit reporting act: common myths
March 14, 2022Fair credit reporting act: common myths Routinely we encounter customers who have credit questions/issues such as contemplation of bankruptcy, tax issues and collections. And we constantly educate them in regards the credit and collections laws. So in this article we wanted to touch base on some of the common myths of credit reporting. The Fair […]
Understanding your credit score
March 10, 2022Introductions Over the next handful of months, we will give you an introduction to credit scoring and so you can better understand how your credit score works. The industry standard for credit scores is the FICO score, named after Fair Isaac & Co, the firm that developed it. You can get your credit score by […]
Credit Scoring (Part 20 of 20) – Final Review
March 7, 2022What 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 […]
Credit Scoring (Part 19 of 20)
March 3, 2022How 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 […]
Credit Scoring (Part 18 of 20)
February 21, 2022Credit 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 […]
Credit Scoring (Part 17 of 20)
February 17, 2022Credit 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 […]
Credit Scoring (Part 16 of 20)
February 14, 2022How 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 […]
Credit Scoring (Part 15 of 20)
February 10, 2022How 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 […]
Credit Scoring (Part 14 of 20)
February 7, 2022How 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 […]
Credit Scoring (Part 13 of 20)
February 3, 2022How 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 […]