The question keeps coming up about which credit scores to get when you want to check your own credit. Short answer: FICO Scores.
FICO scores, based on the formula developed by the Fair Isaacs Corporation, are the industry standard. All the other scores are ‘consumer scores’, most of them developed and marketed by the credit bureaus [...]
We recently wrote about the so-called “Free” credit reports that really aren’t free in this article. Well, CNNMoney.com listed them as one of America’s biggest rip-offs. Amazingly, Experian – a credit bureau that owns freecreditreport.com, said that they do realize that some people who sign up don’t realize they are signing up for a credit [...]
We recently had a question about getting free credit scores. And with the general public’s growing awareness of the importance of good credit and their credit scores, more and more people are interested. So what to do and where to go?
The two sites being advertised the heaviest right now are the freescore and freecreditreport websites. [...]
According to Fair Isaac Corporation, creator of the FICO score, one of the three credit bureaus, Experian, will no longer allow consumers to view their FICO scores based on Experian data. This becomes effective February 14, 2009.
After that time, consumers will only be able to obtain two of their own FICO scores, but not all [...]
ALL CREDIT SCORES ARE NOT EQUAL
In the U.S. the FICO score is used by the majority of financial institutions. It was created in the 1950s by the Fair Isaacs Corporation and ranges from 300 to 850. Generally, the higher the score, the more financial options a consumer has.
FICO has specific formulas for different industries: mortgage, [...]
If you are an adult in the United States, you probably have a credit report. In fact, you have three, based on credit files at each of the major credit reporting agencies or bureaus: Equifax, Experian and TransUnion. And they are not going away; your credit history will likely stay with you for the rest [...]