Category: Credit Score Tips

It seems every day there is a new credit score that we should all know about it. But after a while, it all gets pretty overwhelming. Which ones matter most? And why? Should I pay attention to this one or that one? When will each be used? HELP! Okay, that may have been dramatic, but… Continue reading What Is the Beacon Credit Score?

This is a question I get a lot, and for good reason. This scenario takes place all the time, so individuals are constantly worried about the impact. It’s further compounded by the fact that you need a certain credit score to get approved for a credit card, so it starts to become a catch-22. Anyway,… Continue reading Does Applying for a Credit Card Hurt Your Credit?

While most everyone knows that credit card issuers and banks use credit scores to determine whether or not to lend to us, there are some lesser-known uses for credit scores as well. For example, you may have heard that employers may pull your credit report (with your permission) when you’re going through the hiring process.… Continue reading How Cell Phone and Utility Companies Use Credit Scores

If you’ve ever done a search for credit scores online, you’ve likely come across a lot of funny terms, such as “Fica score” or “Fako score,” to name just two. This is largely because credit scoring is shrouded in secrecy, thereby bemusing consumers and creating lots of misinformation out there. Unfortunately, this has led to… Continue reading Fica Scores and Fako Scores: Huh?

Credit score Q&A: “What is the Equifax credit score?” I’ve mentioned time and time again that there are a great number of credit scoring models out there used by lenders to determine our creditworthiness. And so that explains why you may come across different credit score providers, and why your credit scores probably won’t be… Continue reading What Is the Equifax Credit Score?

Credit score Q&A: “Are credit scores and Fico scores the same?” This is a pretty common question, and one that creates quite a bit of confusion because Fico scores are so very popular. You could almost blame Fico for causing this “problem,” given the fact that they’ve pushed their proprietary credit scoring system as the… Continue reading Are Credit Scores and Fico Scores the Same?

Credit score Q&A: “What is a credit check?” These days, it’s pretty common to hear the phrase “credit check,” or for that matter, “no credit check.” Heck, if you drive down the street you’ll probably pass a business that mentions something about a credit check. If you happen to go by a car dealership, you… Continue reading What is a Credit Check?

Sadly, a lot of students don’t know the first thing about their credit score(s), despite their great importance. While it’s typically fairly easy to get a student loan, even if your credit history is sparse, it’s important to note the impact one can have on your credit scores going forward. Put simply, any loan you… Continue reading Student Loans and Your Credit Score

Put simply, any bill that shows up on your credit report can affect your credit score in a positive or negative way. The key to knowing which bills affect your credit score is to get your hands on a credit report. Once you’ve got your credit report in hand, you can see exactly what is… Continue reading What Bills Affect My Credit Score?

Hand downs and without question, Fico scores are used the most frequently when banks and lenders decide whether to extend new credit to consumers. So when you apply for a credit card, an auto loan, or a mortgage, there’s a very good chance the financing company will rely upon a Fico-based credit score when pulling… Continue reading What Credit Score Is Used the Most?