There are a multitude of credit scoring models in use today, each with its own unique method for calculating and interpreting a person’s credit score. This variety of models can be confusing for consumers, but there are several reasons why…
From home loans, to auto loans to bank loans, FICO is used in 90% of all lending decisions; however many consumers are viewing their credit scores from a VantageScore. According to US News, VantageScore was designed to provide a consistent credit…
Change in Public Records Reporting What is a Public Record? Tax Liens, Judgments and Bankruptcies are credit items that are on file with the government. These can report on the credit report and have a severe detrimental impact to…
Importance of Credit Cards If you do not own a credit card or revolving account, what you read below may be the most important thing you read to help raise your credit scores. We recommend that you have…
Credit Coaching Guide – Part 3 (What to avoid) When trying to improve your credit score or credit history, avoid any of the following: Asking a creditor to lower your credit limits. This will reduce that all-important gap between your…
Credit Coaching Guide – Part 2 Experts say the average time required to rebuild one’s credit to the point at which you can be accepted for a major credit card or small loan is approximately two years. Here are some…
Credit Coaching Guide – Part 1 Don’t despair if you find yourself with a less than desirable credit score and credit history. You are human and can make mistakes. It’s natural. The key to this is recognize that your spending…
Finding Your Score Pt 2 If you want to know your actual credit score, you will usually have to purchase it. This can be done in a few ways. You can get it from one of the three major credit…
All About FICO (con’t) There are about 100 different ways to compute a credit score. As we have discussed FICO is the main source lenders use to derive a credit score. FICO has 49 different algorithms that are split across different…
Intro to Credit History The next section is your credit history. Sometimes, the individual accounts are called trade lines. Each account will include the name of the creditor and the account number, which may be scrambled for security purposes. You…
