Managing one’s finances can be a challenging undertaking for some people. Lack of time, not being comfortable with money and getting confused by unfamiliar terms and concepts are several reasons why some people avoid this important aspect of their daily lives.
Ask FICO is a new Q & A column where our credit scoring expert, Tom Quinn answers common credit score and credit-related questions that you have. Post your questions on our Understanding FICO Scoring and General Credit Topics threads on the myFICO Forums.
The question this month: “I found out that I don’t have a FICO® Score. What should I do to establish a credit history?”
Super Bowl fever is starting to build as Super Bowl Sunday approaches. As part of the lead-up to the game, there is a great deal of speculation and analysis on which team will take the title — the Atlanta Falcons or the New England Patriots. Can analyzing FICO Scores of the respective teams give us any insight?
New Years is the perfect time to start fresh – change those bad habits into good ones and make this year the best one yet. From healthier eating and more exercising to less spending and wiser personal finance choices, we’ve all made resolutions that we were determined to keep. Unfortunately, many times our determination runs astray and it’s only a few weeks before we end up right back where we started.
We’ve all been there… a job loss, medical bills, credit card debt or an unexpected expense. Just one of these situations is all it could take to send us flying into a whirlwind of financial stress and worry. This ends up affecting our financial and physical well-being and is best to be dealt with on a “sooner rather than later” basis.
Although we have a long way to go before conquering outer space, we should look perhaps a bit closer to our own atmosphere. And consider the following: How safe are the contents we store in the cloud? Have you thought of cloud security? Let’s take a look at this ‘cloud’ that you speak of.
Identity is a funny thing. I used to think I knew exactly what it was made of—Social Security number, date of birth, and first and last name. Period. But then came the Internet and the notion of identity began to change and evolve along with the latest technology.
Last time we met, I explained why your email account is valuable to hackers—what value it has and how it could be used to gain access to more of your coveted personally identifiable information (PII) than you might think. But it’s not just your email that hackers want; they want your phone number, too. How can your number used for identity theft? Read on.
The first thing to know about a HELOC is that it’s not the same as a Home Equity Loan. This is important because many people confuse the two and, in certain aspects, they’re at opposite ends of the lending spectrum.
A Home Equity Loan is similar to your primary mortgage in the sense that it’s set for a specific loan amount to be repaid with fixed monthly payments. (This type of loan is sometimes called a “second mortgage”.) Typically, Home Equity Loan interest rates are fixed and fully amortized.