You don’t have just one credit score Credit scores may vary because of several reasons Payment history, the number and type of credit accounts, your used vs. available credit and the length of your credit history are factors frequently used to calculate credit scores Many people are surprised to find out they don’t have just … Read moreHow Are Credit Scores Calculated?
By Ismat Mangla There are a few rock-solid pieces of financial advice everyone should strive to follow: Save money for an emergency fund. Pay down your debt. Don’t spend more than can you afford. But there’s another bit of financial wisdom that many experts tout: Keep your credit scores as high as possible. Credit scores … Read moreWhy Do You Want a Good Credit Score?
Written by: Jennifer Brozic The Fair Isaac Corporation introduced the first FICO® scoring model to lenders in 1989. According to the company, FICO® scores are used today by 90% of top lenders to make lending decisions. The VantageScore model wasn’t introduced until 2006. It was developed by the three major consumer credit bureaus — Equifax, … Read moreVantageScore vs. FICO: What’s the difference?
Credit utilization ratio is an important factor in your credit score and measures how much of your available credit you’re using Credit utilization is a measure of how much of your available credit you’re using. And it applies to revolving credit accounts like credit cards, personal lines of credit and home equity lines of credit. It’s sometimes called a credit utilization … Read moreWhat Is a Credit Utilization Ratio?