How Credit Scoring Helps You
The first company to establish a credit scoring model was Fair Isaac, Inc. In the 1990s the mortgage industry began to use scoring models to instantly rate consumers. Today, credit scoring has progressed way past the mortgage industry and is utilized by almost all lenders to make instant credit decisions. more

What is Poor Credit?
Your credit score can affect many aspects of your life. Whether you need a loan to buy a home or if you apply for a credit card, your credit score is used to assess your credit risk. People with poor credit usually are in some sort of difficult financial situation. Poor credit could also mean a low credit score. more

Understanding the Different Credit Scores
Credit Scores are somewhat confusing because the credit bureaus sell FICO credit scores under different names Equifax FICO Score is called BEACON Score, Experian FICO score is called Experian/Fair Isaac Risk Model and TransUnion Fico Score is called EMPIRICA. more

Understanding Vantage Score
The VantageScore was jointly created and rolled out in March 2006 by Experian, TransUnion and Equifax to compete directly with the Fair Isaac Corporation's FICO Score. The VantageScore will use the same scoring model across the three credit bureaus and was developed to be more predictive and to increase consistency. more

Value of a Good Credit Score
A credit score is a measure of risk used to assess an individual's credit worthiness. Credit scores are generated from statistical models that weigh several factors in a person's credit record like, bill-paying history, the number and type of accounts, late payments, collection actions, outstanding debt, and the age of accounts. more

How Common Mistakes Impact Your FICO Credit Score
FICO credit scores have been around for decades but consumers have had very little insight on how many points would be lost for the most common negative actions. Credit problems like maxing out your credit cards, late payments, debt settlements, foreclosures and bankruptcies all result in "damage points" that directly reduce your credit score. more

What is a Credit Score?
A credit score is a measure of risk used to assess an individual's credit worthiness. Credit scores are generated from statistical models that weigh several factors in a person's credit record like, bill-paying history, the number and type of accounts, late payments, collection actions, outstanding debt, and the age of accounts. more

1 in 4 Americans Have a Bad Credit Score
Millions of Americans credit scores are dropping to new lows. New numbers supplied by FICO Inc. show that 25.5% of consumers - about 43.4 million people have a credit score of 599 or below. Consumers with credit scores in this range will find it difficult to get credit cards, auto loans and mortgages under the tougher lending standards. more

Credit Mistakes That Wealthy People Make
Just because someone is wealthy does not mean they are smarter about their credit. An individual's income and their savings do not play a factor in determining their credit score and are not part of their credit report. more

Credit Score Access is Becoming More Widely Available in 2011
For the first time, millions of consumers will have a chance to see the credit score that lenders, insurers and others use to measure the likelihood they'll repay a loan. more

Common Misconceptions About My Credit Score
Carefully monitoring your credit report is the first step in ensuring that your credit score will be accurate and correct. The bulk of your credit score comes from your payment history and the total amounts that you owe. This means late payments and high balances have the greatest impact on your overall score. As your data changes at the credit bureaus, so will any new credit score based on your credit report. more

Tips to Help You Increase Credit Score
Your credit score influences everything from your credit cards and insurance premiums to your mortgage rate or if you're even able to secure a mortgage at all. more