When Do Credit Card Issuers Close down Inactive Accounts?

Although not everyone has a credit card, an overwhelming amount of Americans do. They use credit cards as a...

Did you know you have more than one FICO® Score?

Your FICO® Score versions and what they mean to you. FICO® Score 8 is the score you’re probably accustomed...

Could an Upcoming Data Purge Increase Your FICO® Scores?

You may have seen recent stories about how the credit reporting agencies (Equifax, Experian, and TransUnion) are scheduled to...

Financial Attitude and Financial Literacy

How to Change Both for the Better Through experience, most of us have learned that attitude plays a big...

Ask FICO: Soft and Hard Inquiries, What's the Difference?

Ask FICO is a Q & A column where our credit scoring expert, Tom Quinn, answers common credit score...
Credit Cards, FICO Scores & Credit Reports
When Do Credit Card Issuers Close down Inactive Accounts?
FICO Scores & Credit Reports
Did you know you have more than one FICO® Score?
FICO Scores & Credit Reports
Could an Upcoming Data Purge Increase Your FICO® Scores?
Personal Finance
Financial Attitude and Financial Literacy
FICO Scores & Credit Reports
Ask FICO: Soft and Hard Inquiries, What's the Difference?
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

Credit Cards

 

Recent posts

Identity Theft

Why Your Phone Number Is Valuable to Hackers

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.

Continue reading

Financing & Loans

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. 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.

Continue reading

Personal Finance

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 to know what a home warranty actually is.

A home warranty is a contract (usually a one-year term) that helps cover the cost for the repair or replacement of many home systems and appliances. There’s quite a variety of home warranties available today, which is why researching different companies and learning about what they offer is an important part of the home warranty selection process.

Continue reading

FICO Scores & Credit Reports, Identity Theft

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 privacy of consumer information contained within the files of credit reporting agencies. You can see the FCRA on the Federal Trade Commission’s website, however, there are a lot of terms, definitions, and rules that can confuse those of us who are not experts in the field.

So let’s make the Fair Credit Reporting Act a little bit easier to understand…

Continue reading

Credit News & Current Events

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 to normal. Among the many concerns you may be wondering:

  • How do I get access to money?
  • What will happen if I miss payments on my credit cards and loans?
  • And how might the decisions I make affect my credit rating and access to credit in the future?

Continue reading

Personal Finance

Certificates of Deposit offer higher yields and greater safety. Is that a good thing?

Certificates of deposits (CDs) are investments, sold by banks that are typically bought with cash an investor won’t need for a long period of time. Why? The money must remain invested for the full investment period (referred to as the “term” of the CD) in order for the bank to pay a slightly higher interest rate than what would have been earned if the money was kept in a money market or checking account. This is the “higher yield” feature of a CD.

Continue reading

Popular posts

Did you know you have more than one FICO® Score?

Your FICO® Score versions and what they mean to you. FICO® Score 8 is the score you’re probably accustomed to seeing because it’s the most widely used FICO Score version...

How To Ask For a Credit Limit Increase, And Make Sure You Get It

Ever since the financial crisis, credit issuers have become increasingly judicious about giving you a credit limit increase. It wasn’t unheard of to be granted an astronomical increase to...