Term: FICO Score
16 found

Are Credit Scores Just a Scam?

By Steven Shaw on 10/2/2014

credit scores scam

It sounds like something straight out of the conspiracy theorist’s playbook: a secret system that enslaves average citizens who don’t even know what’s really happening.

credit score
credit scores
FICO
FICO credit score
FICO Score

How Much Will One Late Payment Hurt Your Credit Scores?

By Steven Shaw on 8/22/2014

How Much Will One Late Payment Hurt Your Credit Scores?

You open your credit card statement and discover you forgot to make last month’s payment. Or you get a call from a collection agency about a medical bill you didn’t realize hadn’t been paid. Or you check your credit reports and discover a late payment is marring your otherwise perfect payment history.

credit score
credit scores
FICO
FICO credit score
FICO Score

Why You Shouldn’t Get Too Excited About the New FICO Score… Yet

By Steven Shaw on 8/18/2014

Why You Shouldn't Get Too Excited About the New FICO Score... Yet

For consumers with collection accounts on their credit reports, FICO Score 9 — the new version of FICO scores that will be available to lenders in the fall of 2014 — can’t come fast enough.

FICO
FICO credit score
FICO Score

The New FICO Score: Better for Debtors?

By Steven Shaw on 8/10/2014

new FICO Score 9

If you’ve ever had a debt collector call you, Thursday’s announcement from credit scoring company FICO may be good news for you.

FICO just released the newest edition of its general credit scoring model, FICO Score 9. The big changes come in the area of debt collection: The score will not include paid collection accounts, and it differentiates medical collection accounts from non-medical debt.

credit score
FICO
FICO credit score
FICO Score

How I Got My Credit Score to 847

By Steven Shaw on 7/29/2014

How I Got My Credit Score to 847 

Before I had a credit card — before I even knew what a credit card was — I knew credit card debt was something to be avoided at all costs. I hadn’t yet graduated from banking of the piggy variety, and my mom already had me thinking about debt. She used my childhood curiosity as a teaching opportunity. She’d be balancing her checkbook, paying bills at the department store or checking out at the market, and when I asked, “Whatcha doin’?” (which happened a lot), something about financial responsibility came up. I figured it was just something accountants did — incorporate money lessons into every day chatter.

credit score
FICO Score

Why Does My Credit Score Change So Often?

By Steven Shaw on 6/2/2014

credit score changing

If you monitor your credit score, you may be like this reader — scratching your head wondering why it changes so often.

Here’s this week’s reader question:

My Discover card started providing my credit score free each month. What I don’t understand is why it was 814 one month, then 794 the next and now it is 803. Nothing has changed in my life. I didn’t open up any new credit cards, my home has been paid off since 2004 and my car was paid off in 2007. I pay all my bills each month in full and on time. So why the fluctuation in my credit score?

While I have to tip my hat to Discover for doing what’s right – providing free credit scores – seeing your credit score too often, as well as from too many sources, can create confusion.

credit scores
credit scores
FICO credit score
FICO Score