Why your email account is valuable to hackers

Identity is a funny thing. I used to think I knew exactly what it was made of—Social Security number,...

Home Equity Line of Credit (HELOC): Facts to Know.

The first thing to know about a HELOC is that it’s not the same as a Home Equity Loan....

Can a home warranty save you money?

Before talking about the pros, cons and potential money savings a home warranty can offer, it’s a good idea...

The Fair Credit Reporting Act and Credit Reporting Agencies

The Fair Credit Reporting Act (FCRA) is a complex piece of legislation designed to promote the accuracy, fairness, and...

Protecting Your Credit When Disaster Strikes

In the wake of natural disasters such as Hurricane Matthew, you may be struggling to get your life back...
Identity Theft
Why your email account is valuable to hackers
Financing & Loans
Home Equity Line of Credit (HELOC): Facts to Know.
Personal Finance
Can a home warranty save you money?
FICO Scores & Credit Reports, Identity Theft
The Fair Credit Reporting Act and Credit Reporting Agencies
Credit News & Current Events
Protecting Your Credit When Disaster Strikes
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.

Credit card category

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Recent posts

Financing & Loans, Personal Finance

HARP Refinancing – What is it and can it help you?

HARP – Home Affordable Refinance Program.

The acronym helps us remember what the letters stand for, but what is HARP and why was it created? HARP was developed by the Federal Housing Finance Agency in an effort to help homeowners, with little or no equity in their homes, refinance their mortgage. That means, if you owe as much – or more – than your home is worth, you may be eligible for a HARP refinance.

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FICO Scores & Credit Reports

Free Credit Report vs. a Credit Report from FICO

Is one better than the other?

Free Credit Report… you’ve seen the commercials, the banner ads, the social media push and lots more. However, do you know what’s missing from that free credit report? Your FICO® Score – the credit score used by 90% of top lenders to decide whether or not to give you a loan and what interest rate they’ll charge.

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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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Popular posts

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...

Student loan basics – from taking one out to paying it back.

Student loans. We’ve been hearing about them everywhere. From newscasts to talk shows to political debates, everyone’s talking about student loans – or more precisely – student loan debt.