Credit scores are all the rage these days. It seems like it’s impossible to avoid seeing an advertisement for a “free credit score,” or hearing that silly band talk about how they couldn’t get a job/loan/girlfriend because their credit score was low. So we know the advertising is working, but these ads do little to… Continue reading Does Checking Your Credit Score Lower It?
600 Credit Score: Bad, But Not Awful
It’s that time again; where we look at one very special credit score in-depth to determine what it all means. Today, let’s take a look at a “600 credit score.” On the surface, it looks pretty low, but not dismal. As always, we need to look at the credit score scale being used before we… Continue reading 600 Credit Score: Bad, But Not Awful
Does Closing a Credit Card Affect Your Credit Score?
Nowadays, consumers seem to think it’s a major no-no to close a credit card. Why? Because it may affect your credit score. And by affect, I mean lower your credit score. But this all seems to have been blown out of proportion. The reality is that you can and should close a credit card account… Continue reading Does Closing a Credit Card Affect Your Credit Score?
700 Credit Score: Congratulations, You’re Almost Average
Every now and then, I’ll take a look at a particular credit score to determine whether it’s good, bad, average, ugly, or somewhere in between. Today we’ll look at a “700 credit score.” At first glance, a 700 credit score seems pretty good, but not great. Most would probably characterize it as average, and I… Continue reading 700 Credit Score: Congratulations, You’re Almost Average
800 Credit Score: Life is Good…
Every once in a while, I’ll take a specific credit score and dissect it to see what it’s all about…today I’m setting my sights on a rather elusive “800 credit score.” On the surface, an 800 credit score would be considered an excellent credit score. Most people wouldn’t argue that. 800 Fico Score 50 Points… Continue reading 800 Credit Score: Life is Good…
Credit Utilization Rising, Likely Hurting Credit Scores
Credit utilization, a major credit scoring metric, is on the rise, according to a recent report from credit reporting agency Experian. The company noted that cardholders are utilizing, on average, more than 30 percent of their total available bank card balances. That’s nearly a 10 percent jump from 2007, which could be attributed to a… Continue reading Credit Utilization Rising, Likely Hurting Credit Scores
Free Fico Scores for Military Servicemembers
Good news for military servicemembers. The FINRA Investor Education Foundation announced this week that both military and their spouses can access their Fico scores at myFico.com. Additionally, they’ll have free access to the educational information and tools in the FICO® Standard service, which includes the FICO® Score Simulator that reveals the credit scoring impact of… Continue reading Free Fico Scores for Military Servicemembers