We’ve written many times about the difference between FICO scores and FAKO scores – the ones that the credit bureaus advertise a lot that are not an equal comparison to the score that a lender sees.  So when your actual FICO scores are on sale, we want to make sure you know about it.
They usually [...]

There are five parts to the FICO score.  The second largest part, accounting for 30% of it, is the Amounts Owed, also called the Utilization Ratio.  This is the difference between the loan amount or credit limit on an account compared to the balance that is currently owed on it.    An important part of growing better credit [...]

Should I add a Consumer Statement to my credit file?  The short answer is NO. 
A Consumer Statement is something that can be added to a person’s credit report, by them.  It is about the only thing a person can add to their own report.  Everything else on there comes from companies that pay the credit [...]

The sale on FICO scores at myfico.com has been extended through the end of the year.  From now until December 31st, you can save 26% so they only cost $11.80 each, instead of the regular $16.  That is for your Experian and Transunion credit reports WITH actual FICO scores, not “FAKOs”.   Remember, FICO is the [...]

This article is of particular importance to a married person with most of the household’s financial accounts in the other spouse’s name.  
We’ve seen several occasions over the years where a change-of-life event can leave one spouse without a credit history and facing challenges with financial institutions and other companies.  Often senior citizens have a traditional relationship with [...]

Right now many people are looking at purchasing a home, especially with the extension and expansion of the home buyer’s tax credit.    Sometimes they are unable to qualify for the home loan because of credit scores that are too low.  Christy Miller, a mortgage advisor with American Home Mortgage, said that a minimum score of [...]