Term: FICO credit score
17 found

13 Reasons to Get Your Credit Scores

By Steven Shaw on 5/28/2014

credit scores 

Have you put off checking your credit score and credit reports? Maybe you figure that no news is good news. Or perhaps you think that you might as well not worry about credit until you actually need it.

credit score
credit scores
FICO credit score
VantageScore
VantageScore 3.0

How I Raised My Credit Score 67 Points in 3 Months

By Steven Shaw on 5/7/2014

How I Raised My Credit Score 67 Points in 3 Months

 

You can’t blame Eddie for feeling like trying to build better credit was a lost cause. In the spring of 2011, he lost his job. When he found another one three months later, he had to take a significant pay cut. He managed to keep paying his mortgage, car payment and utilities on time, but his four credit cards “went into the toilet. That killed my (credit) score,” he wrote in an email. At the end of that horrible year, he found a better-paying job, but by that time, he said, “the damage was done.”

 

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Why Isn’t Income Part of My Credit Score?

By Steven Shaw on 5/5/2014

Why Isn't Income Part of My Credit Score?  

After a series of financial setbacks, Eddie’s income is on the upswing. But that doesn’t seem to be helping his credit scores one bit. He wrote in an email asking why it didn’t:

I bring home $650 a month MORE than when I worked, and my monthly outlay is $700 less, so I have $1,350 more disposable income every month than I had when I had all that debt. Yet I can’t get a freakin’ credit card?

Why doesn’t income affect your credit scores?

credit score
credit scores
FICO
FICO credit score
Income

Can You Live Without a Credit Score?

By Steven Shaw on 3/7/2014
living without credit

Let’s get straight to the point — of course you can live without a credit score. Many people make the lifestyle choice to engage with society without using credit. It’s sort of like choosing to be a vegetarian. Do you need to eat meat to be healthy? Nope. Some people would really rather not eat meat, even though it may make eating out at a restaurant or meal planning less complicated. Just as some people oppose eating meat on moral grounds, some people prefer to live without credit, and that’s fine.

credit score
credit scores
FICO
FICO credit score

A Roadmap to Better Credit Scores

By Steven Shaw on 2/5/2014

Reason Codes: The Roadmap to Better Credit Scores 

I’m often asked about the best ways to improve a consumer’s credit scores. Is it by paying bills on time or is it better to pay off credit card debt? Or, is it by avoiding any new, unnecessary credit?  The answer, of course, is that all of those factors are important to achieving and maintaining a good credit score.  But, apart from the basics, how to improve a credit score is going to vary from consumer to consumer. There is no single universal path from your current credit score to a high credit score because few consumers’ credit reports are identical. There is, however, a tool that will best identify your path: the reason code.

Better Credit
Credit Card Debt
credit score
credit scores
FICO
FICO credit score
VantageScore credit score

Why Do People Check Their Credit?

By Steven Shaw on 1/31/2014

credit score 

If you don’t measure it, you can’t tell if it’s getting better. That’s a common concept when it comes to making improvements, whether in business, health or education.

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Americans With Lower Credit Scores Are Getting Mortgages

By Steven Shaw on 1/24/2014

qualify for a mortgage 

Credit scores are among the many things lenders review when you apply for a mortgage, because scores are designed to predict how likely you are to meet your debt obligations. After the mortgage crisis, lenders were hesitant to take on risky borrowers, and at the end of 2012, the average FICO credit score for a closed mortgage was 748, according to mortgage software company Ellie Mae.

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Home Loan
homebuying process
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homeownership
Mortgage