Last month we posted a fun quiz on the blog section of myFICO to test how well people know their credit. The quiz consisted of 10 questions about credit, credit scoring and lending practices — some of the questions had multiple answers for a total of 15 points if one answered all questions correctly.
You probably already knew this intuitively (for example, you might have read that paragraph above and said, “of course they’re connected, Jeanne!”). In spite of this, people are frequently surprised when I suggest that our health and our credit are closely connected. Health and credit are two things we don’t always see as linked… but they are. Your health can impact your credit. Your credit can impact your health.
We live in an instant world. You shop for something online and it’s at your door in days (or hours!). If you want pizza, you can probably get it delivered in 30 minutes or less without even speaking to a human. And how can we even get started on the numerous ways to watch our favorite movie, series or documentary instantly.
So why oh why can’t it be the same with rebuilding credit?
It’s time to get real with yourself. No more guessing, no more assuming, no more hoping – it’s time to put your financial knowledge to the test. Think you’ve got your credit in check? Test your knowledge in ten questions.
I love shopping at Costco. In fact, I got an Amex Costco TrueEarnings Credit Card because I can use it to pay for purchases both in and outside of Costco while earning great rewards. In addition, it has no annual fee and serves as my Costco membership card. With the news of the transition from Amex to Citibank Visa, I can’t help but wonder what my options are and how the transition could affect my FICO® Score.
Happy Valentine’s Day! We’ve got a quiz for all of you love birds out there. Think you know everything about your partner? It’s time to put your knowledge to the test.
Super Bowl fever is taking over millions of football fans as Super Bowl Sunday quickly approaches. As part of the lead up to the game, there is a great deal of speculation and analysis (and non-stop media coverage!) on which team will take the title — the Carolina Panthers or the Denver Broncos.
Thinking about getting a new car? Based on all the car company advertising, it would appear it’s a great time to be in the market to buy a new vehicle. All of the big car companies are promoting cash back incentives, 0% financing and other incentives to move that 2015 inventory off the lot.
However, have you also noticed the fine print in the advertisements pointing out that these more favorable financing terms are only available to qualified applicants? And, having a higher FICO® Score is often quoted as one of the key requirements.
So you’re ready to take on a new mortgage and you’ve done your research. You have been educating yourself about credit scores, the credit process and how lenders evaluate credit for mortgage loan applications as you are getting ready to purchase a new home. And you know understanding your FICO® Scores is really important as they are the credit scores most commonly used in the mortgage loan review process.
The latest FICO® Score data brought with it some encouraging news about consumers’ FICO® Scores and credit health: a growing number of U.S consumers—19.9%—have FICO Scores of 800 or higher. That’s nearly one in five people with FICO Scores in the “exceptional” credit range.
With news of more people boasting 800+ FICO Scores, we thought now’s the perfect time to detail a few specific perks of having high scores.