In this blog series, 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. What is a…
Continue readingThere’s no doubt about it: the word “bankruptcy” has a stigma attached to it – and not always for good reason. The 3 main reasons people file bankruptcy is medical debt from a catastrophic illness, an unexpected job loss, and…
Continue readingThere are 5 factors (categories of credit data), that make up your FICO® Score. These factors are: Payment History Amounts Owed Length of Credit History Credit Mix New Credit So… how much do you know about each of these factors?…
Continue readingYour credit score says more about how you manage money than about how much money you have. Some people believe that a credit score represents one’s wealth – the higher the score, the more money one must have. Simply stated,…
Continue readingIntroducing Credit Galaxy, a fun and interactive educational game created by FICO, that informs as well as tests your knowledge about credit and credit scoring topics. Anyone with access to a computer or smartphone can play the game and there…
Continue readingWhether you’re getting a mortgage to purchase a home or you’re looking to refinance your current home loan, knowing the true meaning of certain “mortgage terms” can help you make better decisions. Although you might recognize some of these terms…
Continue readingA quick background: The Federal Trade Commission (FTC) is the government agency that enforces the Fair Credit Reporting Act (FCRA). The FCRA is legislation enacted to promote the accuracy, fairness, and privacy of consumer information in the files of consumer…
Continue readingMany people are surprised to learn that the majority of Americans (~64%) own their home (defined as the percentage of homes that are owned by their occupants). This rate can vary depending on various factors such as age (younger people…
Continue readingIn this blog series, 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. Does missing a…
Continue readingWith the consistent rise in identity theft and credit fraud, it’s more important than ever to know what’s going on within your credit files. Identity thieves keep finding new ways to steal personal information from unsuspecting consumers and right now…
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