Category: Credit Score Tips

  • Can You Raise Your Credit Score Fast?

    Can You Raise Your Credit Score Fast?

    You’ve probably seen ads on TV, the Internet, or even on a lamppost that promise you a higher credit score overnight. In fact, they may say claim to raise your score 100 points in “x” amount of time if you give them your hard earned money. But as I alluded to in a previous post,…

  • Average Credit Score By Age

    Average Credit Score By Age

    In case you were wondering, there most certainly is a correlation between credit score and age. What’s that relationship, you ask? Well, in a nutshell, it’s that the older we get, the higher our credit scores tend to be. And it’s not an accident, as credit history and depth of credit play a huge role…

  • What Credit Score Is Needed to Buy a Home?

    What Credit Score Is Needed to Buy a Home?

    Credit score Q&A: “What credit score is needed to buy a home?” Home prices have fallen a ton over the past few years, along with mortgage rates. In fact, interest rates are at record lows at the moment. That must mean it’s a good time to buy a home, right? Ha ha…well that’s a discussion…

  • Credit Score After Bankruptcy

    Credit Score After Bankruptcy

    If you recently filed for bankruptcy, or are thinking about doing so, know that it is considered a “very negative event,” according to Fico, the founder of the almighty Fico score. In other words, your credit score will be severely damaged if you file for bankruptcy. The big question, though, is how much it will…

  • Which Credit Bureau Is the Most Important?

    Which Credit Bureau Is the Most Important?

    Credit score Q&A: “Which credit bureau is the most important?” In another attempt to potentially “game” creditors, consumers often wonder which credit reporting bureau they should most concern themselves with. For the record, the three major credit reporting agencies are Equifax, Experian, and TransUnion. And the words “bureau” and “agency” are used interchangeably, so don’t…

  • Does a Credit Report Show Employment History?

    Does a Credit Report Show Employment History?

    Credit report Q&A: “Does a credit report show employment history?” Spoiler alert! If you’re trying to game the system, you might want to think again. Credit reports contain a ton of information about us, whether we like it or not. And much of it is there to stay, at least for a decade or so,…

  • Fair Isaac Credit Score

    Fair Isaac Credit Score

    If you’re inquiring about the “Fair Isaac credit score,” you’re probably working with some outdated information (or talking to your grandparents). Fair Isaac Corporation is the former name and acronym of “Fico,” which is quite obviously the company behind the all-powerful Fico score. The name Fair Isaac is based on its creators, Bill Fair and…

  • Do Medical Bills Affect Credit Score?

    Do Medical Bills Affect Credit Score?

    Credit score Q&A: “Do medical bills affect credit score?” This is a pretty common question, as medical billing always seems to get messy. More often than not, a medical bill pops up seemingly out of nowhere, despite the fact that you paid it months or even years ago. The problem is that medical billing is…

  • No Fico Score?

    No Fico Score?

    While most people have a Fico score, there are those who do not. Yep, not everyone has a credit score, contrary to what you might think. Why no credit score? Well, if you’re new to the United States, or simply a youngster with no credit history, there’s a good chance the credit reporting agencies won’t…

  • How Much Does a Missed Mortgage Payment Lower Your Credit Score?

    How Much Does a Missed Mortgage Payment Lower Your Credit Score?

    Credit score Q&A: “How much does a missed mortgage payment lower your credit score?” As I always say around here, credit score creators like to keep their algorithms a bit of a secret. But every now and again, they give us some great little tidbits to demystify the process. The latest data comes from Fico…