Information on how your credit score is calculated and how it can affect you.

Your credit score affects many different things that are a part of everyday life such as applying for a credit card, refinancing your house, applying for loans in college, and even your mortgage.

Foreclosures can have a severely negative effect on your credit score. You can also fix it! Read here to find out how!

Your credit score affects many different things that are a part of everyday life such as applying for a credit card, refinancing your house, applying for loans in college, and even your mortgage. Each of the 3 bureaus, Equifax, Experian, and Transunion have their own individual scoring methods. Most mortgage lenders determine your credit risk by using the FICO score, a third party credit scoring system used by lenders to predict the risk they would take by issuing a loan.

Your credit score or FICO score affects your entire life and is one of the most important things to take care of. It determines how likely you are to pay back a loan. Simple easy steps to improve your credit.

ID Theft threatens to reduce your FICO score and harm your credit rating, which can cost thousands of dollars in higher interest and insurance rates. Credit errors can be disputed with the credit bureaus and merchants and your credit rating can be repaired.

Prime rates have decreased, but many cardholders with credit scores under 700 see interest rates increase. Charging high balances, paying late or missing payments can trigger a rate increase. A tightening of credit standards is predicted in the coming months.

FICO 08: The credit scoring system is being tweaked again as Fair Isaac Corporation, developer of the FICO credit score rolls out a new model called FICO 08.