Here’s The Surprising Reason You Should Work On Your Credit

I write a lot about credit. I’ve built my entire career around it, and I’m passionate about helping people...

Quiz results are in! (And they may actually surprise you)

Last month we posted a fun quiz on the blog section of myFICO to test how well people know...

Does your credit impact your health?

You probably already knew this intuitively (for example, you might have read that paragraph above and said, “of course...

Your debt payoff plan & how it could impact your FICO Scores

There’s an endless supply of theories on how to manage your debt in a healthy, responsible way. Some believe...

Should I Transfer My Credit Card Balance to Another Credit Card?

If you’ve been stuck on the credit card debt treadmill for a while, struggling to make anything more than...
FICO Scores & Credit Reports
Here’s The Surprising Reason You Should Work On Your Credit
Credit News & Current Events, FICO Scores & Credit Reports
Quiz results are in! (And they may actually surprise you)
FICO Scores & Credit Reports, Personal Finance
Does your credit impact your health?
FICO Scores & Credit Reports
Your debt payoff plan & how it could impact your FICO Scores
Credit Cards
Should I Transfer My Credit Card Balance to Another Credit Card?
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

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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Credit Cards

6 Tips to Maximize Credit Card Rewards

In the credit card world, there’s really no better feeling than earning rewards for your spending. Who doesn’t like getting a little bonus for purchasing everyday expenses with some plastic?

But lost in the excitement of air miles, cash back, and gift cards is the fact that getting the most out of your credit card rewards requires some extra know-how and a bit of work. Want to squeeze every last drop of value out of that rewards card? Here are some tips.

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Financing & Loans

How Recent College Grads Can Start Building Credit (in 3 Easy Steps)

Establishing credit when you’re just starting out can feel a bit like a catch-22: to establish credit, you need to get credit; to get credit in the first place, you need to have an established credit history. It can be an infinite loop of frustration (one you should get familiar with if you’re a recent grad — to get a job, you need work experience, which you can only get if already have a job . . .).

Luckily, breaking free of this paradox isn’t as hard as it initially sounds if you know where to start and know what to do once you get going.

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Identity Theft

How Identity Theft Can Impact Your Credit Scores

When people think about identity theft, they often focus on credit card fraud—someone racks up fraudulent transactions on your debit or credit card. This type of identity theft can be extremely frustrating, but luckily, credit card companies and banks have security measures and processes in place to keep your cards protected. It’s the other types of identity theft you have to worry about.

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Credit Cards

Should I Transfer My Credit Card Balance to Another Credit Card?

If you’ve been stuck on the credit card debt treadmill for a while, struggling to make anything more than the minimum monthly payments, you’re probably looking for a way out. Maybe at some point this brilliant idea occurred to you (maybe it was in the middle of the night and it came to you in a dream and you shot straight up like they do on TV and said it aloud): “I know what I’ll do! I’ll pay off my credit card with another credit card.”

Yes, you can use one credit card to pay off your balance on another — though it isn’t all that simple and comes with a few caveats.

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