TransUnion VantageScore Credit Score: NOT A FICO Score
VantageScore is NOT FICO socre. And here are how the two are different.
Every January, May, and September is free credit report time for us and we have been getting one credit report for free every four months from one of the three credit bureaus for many years, well before the law that made everybody eligible [...]
Changes are Coming to Fair Isaac’s FICO Credit Score Calculation
According to an article on MSN Money published today, Fair Isaac, the creator of the popular FICO credit score, will adjust the way it calculate a person’s credit worthiness to better reflect “who’s a good risk and who’s a bad one” at the time when people intend to have, and use, more credit cards than [...]
Factors Affect Credit Score Negatively
Yesterday, I posted an entry on credit score with a couple of items that I feel are important in getting a good score from my own experience. Last night at home, I went through several credit reports with credit score I obtained in the past few years, trying to find out what I have done [...]
Do I Need a Perfect Credit Score?
When I checked my credit score early this month, I was very happy to see it inch toward the 800 mark, despite the huge balance and the large number of accounts on file. I don’t know if it could help push my score from 788 to over 800 if I pay off all the balance [...]
Credit Score and Insurance Rate
Early last week, Kiplinger’s Personal Finance website has an article that discusses the relationship between credit score and insurance rate. The main message of the article is that insurers look at your credit history and credit score differently from lenders. For example, the number of new credits obtained within a year plays a key role [...]
State of My Credit Cards: Use Them, but Responsibly
The last time I checked my credit score was last June and it was 699, largely due to the more than $50,000 0% balance transfers I put on four cards. At that time, I used FICO’s Score Simulator to estimate what my score will be if I pay off all the balances by the end [...]
So How Many Credit Cards Can You Have and Still Get a Good Credit Score?
While I generally agree that too many hard inquiries (voluntary inquiries) in a short period of time (however if the inquiries span only a couple of days, they will be reported as one inquiry rather than multiple one) hurt your credit score in the short term (FICO only uses the hard inquiries in the past [...]
