What Does My Credit Score Mean?
by: Don Blackhurst
Abstract: Lenders are using credit scores more and
more to make decisions about who they will lend to. The
main developer of these scores is called Fair, Isaac Co
(FICO), thus these scores are often called FICO scores.
Scores range from 300-850 with a lower score indicating
a higher chance of defaulting on a loan and a higher score
representing a better chance that the lender will get
paid back. The national average score is approximately
Understanding And Improving Your Credit
Abstract: The American economy is based on credit.
If you don't have at least an average credit rating, you
will find that getting approved for any type of loan,
or credit card, will be very difficult - if not impossible.
As the nation's economy worsens, the money supply becomes
tighter. A major factor looming on the horizon is the
growth in the national debt. At this moment, the country's
deficit is approaching a staggering four trillion dollars!
That means something like twenty cents out of every dollar
spent by the Federal Government goes toward paying off
interest on money borrowed!
How To Read Your Credit Report
by: Tom Koziol
Abstract: The Fair and Accurate Credit Transactions
Act, signed into law on Dec. 4, 2003, gives every American
the right to a free credit report every year from each
of the three major credit bureaus -- Equifax, Experian
How Credit Scoring Works
by: Sameer S Panjwani
Abstract: The all important credit score! It determines
the amount of loan you can get, it determines the interest
rate at which you are charged for a loan, etc. Your credit
score plays an important figure in your financial life.
So what goes into making that all important score of yours?
How does it increase, how does it decrease and what are
the factors that go into its calculation?
5 Ways To Raise Credit Score
by: Gary Gresham
Abstract: It's not as hard as you think to raise credit
score. It's a well known fact that lenders will give people
with higher credit scores lower interest rates on mortgages,
car loans and credit cards. If your credit score falls
under 620 just getting loans and credit cards with reasonable
terms is difficult.
New Credit Scoring Model Could Help
by: James H. Dimmitt
Abstract: Mark and Beth, a young married couple in
their twenties, established a goal to buy a home within
the first three years of their marriage before starting
a family. They budgeted and used their money wisely in
order to save for the down payment. Whenever they purchased
something they always paid cash - no credit cards for
them. Why waste money by paying interest to a credit card