FICO Scores & Credit Reports

3 Ways to Capitalize on 800+ FICO® Scores

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.

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FICO Scores & Credit Reports

How Credit Impacts Your Insurance

There are a lot of misconceptions out there about how credit scores are used and in what scenarios they are used. Employment? Nope. College admission? Nope. Insurance? Actually, yes.

When determining what rates to offer you, most auto insurance providers will pull an insurance score that is based on or considers a person’s credit history and credit scores.

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Personal Finance

5 Things you should really consider when paying off debt

It happens to the best of us and for so many different reasons: shopping addiction, unemployed, entrepreneur, medical issues, career advancement, college. Whatever your reason, you’re in debt and it’s stressful.

Paying off your debt doesn’t have to be a traumatic experience. With a little planning and organization, you can develop and stick to a reasonable, executable debt-management strategy. But before you start planning and making payments, make sure you understand these five key points.

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Credit Cards, Financing & Loans

How student loan debt and credit card debt affect your credit differently

If you’ve been juggling a monthly student loan payment with a credit card balance, you might have reasonably wondered at some point how exactly all that debt is affecting your credit. Debt obviously plays a significant role in your credit picture—how much of it you have and how you repay it are two major factors that affect your FICO® Scores, the credit scores used by 90% of top lenders. But how different types of loans and debt contribute to your scores isn’t readily apparent. Let’s clear up some of that confusion: Here are a couple important differences between how student loan debt and credit card debt can affect your credit.

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FICO Scores & Credit Reports

4 Big Credit Mistakes You Should Avoid at All Costs

When it comes to credit, some people prefer the ignorant bliss method: Don’t look at your credit, don’t worry about your credit, don’t even think about your credit. This method can actually be quite effective for several months or even years — that is until you’re thinking about buying a new home, leasing a new car, financing a new computer, or whatever else you’ve been dreaming up.

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FICO Scores & Credit Reports, Financing & Loans

How Student Loans Affect Your FICO Scores

Here are some sobering statistics for anyone who recently graduated from college:

  • 70% of students graduating with a bachelor’s degree are leaving school with student loan debt
  • The average class of 2014 graduate with student loan debt owed $33,000—earning them the distinction of the most indebted class ever
  • 2014 graduates face a 8.5% unemployment rate and 16.8 underemployment rate

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