The 5 factors that determine a FICO® Score

Many people of “creditworthy” age know what a FICO® score is. For those who aren’t sure or need a...

How difficult is it to improve your credit score? It might be easier than you think.

Yes, it’s true – improving your credit score might be easier than you think. That’s not saying it will...

Annuities: Basic Training for a Complex Product

  Determining whether or not you should purchase an annuity can be a very frustrating process. Most annuities are...

Paying down debt vs. investing and saving. What's the right choice?

Everyone’s financial situation is different, so the money decision(s) you make must be based on your current financial condition...

Should you refinance your auto loan? That's a good question.

Everyone is talking about using the current low interest rates to refinance mortgages. What about auto loans? Why shouldn’t...
FICO Scores & Credit Reports
The 5 factors that determine a FICO® Score
FICO Scores & Credit Reports, Personal Finance
How difficult is it to improve your credit score? It might be easier than you think.
Personal Finance
Annuities: Basic Training for a Complex Product
Financing & Loans, Personal Finance
Paying down debt vs. investing and saving. What's the right choice?
Financing & Loans
Should you refinance your auto loan? That's a good question.
fico score category

FICO Scores & Credit Reports

Welcome to the myFICO Blog

We're your source of knowledge for all things credit (and a few other things too). Learn about your FICO Scores and credit reports, plus get expert credit card and loan tips, personal finance advice and more.

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Recent posts

Personal Finance

College savings – Facts and tips for parentsFeatured

You know the saying, “The early bird catches the worm”. Well, when it comes to saving for college, the same idea holds true, but it’s more like, “The early bird catches financial peace of mind”.

It may seem as though your child’s college years are light years away, but time goes quickly and the last thing you want is to be caught financially unprepared for your child’s education. (Okay, it might not be the last thing you want, but it’s probably close.) So how do we stop that from happening? Read on…

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FICO Scores & Credit Reports

The 5 factors that determine a FICO® Score

Many people of “creditworthy” age know what a FICO® score is. For those who aren’t sure or need a brush up: a FICO® Score is the number that represents a borrower’s creditworthiness based on the data within his or her credit report(s). That number, in turn, is used by 90% of top lenders to determine how much credit they’ll offer a borrower and at what interest rate. In essence, it’s a “guide” for lenders to assess the risk of loaning money to a particular individual.

That’s it. We’re done. There’s nothing else you need to know about a FICO® Score, right? Well, not exactly.

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FICO Scores & Credit Reports, Personal Finance

How difficult is it to improve your credit score? It might be easier than you think.

Yes, it’s true – improving your credit score might be easier than you think. That’s not saying it will be faster than you think, just easier, based on specific actions you can take over time.

If your FICO® Score is lower than you’d like, you’re most likely aware that it took time to get it down to that number. Maybe you maxed out some credit cards… missed a few payments on a mortgage or auto loan… applied for too much credit in a very short timeframe. Whatever circumstances occurred to lower your FICO® Score happened over a period of time and the same holds true when taking steps to improve your credit score. It will take awhile to get your FICO® Score to where you want it to be, but the actions required to get it there are reasonably simple.

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Financing & Loans

IDR (Income Driven Repayment) – lessening the stress of federal student loan repayment.

Paying back student loans is a stressful experience, especially for a recent graduate who is either unemployed or making a low salary. That’s where IDR (Income Driven Repayment) plans come in. These plans were developed to help borrowers (students, not parents) keep loan payments affordable and manageable, lowering the stress that typically comes with repayment.

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Financing & Loans, Personal Finance

5 Tax advantages of owning a home… #5 will make your day!

Whether you currently own a home or are just thinking about purchasing one, there are a number of tax advantages you’ll probably want to know about. These advantages are sometimes hidden within paperwork and difficult to find (without the help of an expensive accountant) or often overlooked by those of us who are not industry professionals. So we’re putting an end to the mystery by listing 5 of the most common (and money-saving) tax breaks of homeownership.

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Financing & Loans, Personal Finance

Paying down debt vs. investing and saving. What’s the right choice?

Everyone’s financial situation is different, so the money decision(s) you make must be based on your current financial condition as well as where you’d like to see your financial status in the future. Sure, there are many rules of thumb when it comes to investing, saving, debt payments and more, but when it comes down to it, any decision you make must be built around your actual financial situation, not what others think it should be or what you wish it was.

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Personal Finance

Money 911: Establishing an emergency fund

They happen all the time: those unanticipated expenses caused by illness… auto problems… job loss… appliance breakdowns… and the list goes on. Sure, they’re all part of life, but where’s the money supposed to come from to help pay for them? That’s where an emergency fund comes in handy.

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Popular posts

Should you refinance your auto loan? That's a good question.

Everyone is talking about using the current low interest rates to refinance mortgages. What about auto loans? Why shouldn’t people consider using these same low rates to refinance their...

When the wedding is over: Merging money after marriage

When you search online for “list of marriage conflicts”, there is always one particular cause of conflict that appears in the Top 5: Money. There are a number of...