Category: FICO score
July Credit Reporting Policy Changes Could Improve Your Credit Score

Millions of consumers are about to benefit from credit reporting policy changes. Starting on July 1st, the three national credit bureaus, Equifax, Experian and TransUnion, will remove and exclude certain civil judgment and tax lien listings from consumer credit reports. This shift has the potential to positively impact the credit scores of thousands of consumers.

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Improve Your Credit Score by Understanding the Factors That Make It Up

If you want to improve your credit score, you need to understand that factors that make it up. There are five main components that your score is based off of, and understanding how they work can help you identify ways you can boost your credit rating.

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Understanding Adverse Action FICO Reason Codes

If you get turned down for credit or don’t qualify for the best interest rate offered, you’ll want to understand what those two-digit FICO reason codes stand for in the letter you receive.

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Credit Score Factors: What Goes Into Your FICO Score?

Your credit score is what lenders will use when making decisions about you, so it’s rather important. There are several different credit scoring models, but FICO is chief amongst them. The majority of lenders use FICO scores, so it is the one you’ll want to focus on.

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Experian Fined for Deceiving Consumers about Credit Scores

The Consumer Financial Protection Bureau fined the credit agency Experian $3 million last week. Let’s take a look at why Experian was fined and what consumers can learn about their credit scores from this.

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Minimum Credit Score Needed to Get Approved for a Car Loan

There is no minimum credit score needed in order to qualify for an auto loan. If you are dealing with bad credit, it can be more difficult to get approved. However, special finance lenders will consider many factors, so there is no minimum credit score needed.

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How to Check Your Credit Score for Free

Looking for ways to check your credit score for free? Marilyn Lewis of MoneyTalksNews recently highlighted six ways that consumers can access their official FICO score at no cost. Monitoring your credit score gives you more control over your financial life.

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