These percentages are based on the importance of the five categories for the general population. For particular groups - for example, people who have not been using credit long - the importance of these categories may be somewhat different. Payment History Account payment information on specific types of accounts (credit cards, retail accounts, installment loans, finance … [Read more...] about FICO Score: What It Is and The Main Categories
FICO & Credit Report
How Your FICO Score Impacts Your Purchasing Power
I remember the very first time I bought a brand new car for more than a decade ago. I was still a student then and have very little knowledge of personal finance. In addition, I did not clearly understand how this FICO score works. I did not have an excellent FICO score back then, only good, but I was just really surprised when the car sales agent ran the numbers and showed me … [Read more...] about How Your FICO Score Impacts Your Purchasing Power
6 Things To Avoid To Protect Your Credit Score
America lives in credit and it is known that Americans spend more than they earned and it was made possible because of debt and credit. It is nice to pay everything in cash but if you want to purchase big ticket items such as a house or a car, you need to have a very good credit. For the most part, your credit is based on your FICO score and this is one of the most important … [Read more...] about 6 Things To Avoid To Protect Your Credit Score