In 1989, the Fair, Isaac, and Company (FICO) established FICO scores. It provided an industry standard for scoring creditworthiness. It was fair for both consumers and lenders. Before FICO, there were many different scores with various calculating methods, sometimes including gender or political affiliation. Changes now are coming to the way FICO is calculated. You…
FICO Changes That Could Impact Credit Availability
March 28, 2023
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How to Save Money on Auto Insurance
By David Rodeck From Kiplinger’s Personal Finance Shopping for new auto insurance? Here are ways to save money. Start by asking about discounts. Bundling multiple policies with one insurer can lead to savings on all your premiums. Discounts for setting up electronic payments, paying your entire premium in full, and going several years without a…
Raising Your Credit Score Can Save Thousands on a Mortgage
March 20, 2023
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Before you buy a home and get a mortgage, there are ways to ensure you get a better deal from a lender. The difference can save you many thousands of dollars throughout your mortgage. Taking time to raise your credit score beforehand can enable you to get the better terms you want. The Savings Potential…
How to Get Your Credit Score Above 800
February 3, 2023
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One of the best things you can do for your finances is to have a good credit score. Having a good score will help you get some good deals on credit, but the best deals come to those with credit scores of 800 or more. Along with it, you can enjoy the 800 credit score…
Americans Fall Behind on Car Payments at Highest Rate Since 2009
January 28, 2023
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More Americans are falling behind on their car payments at the highest rate since the Great Recession over a decade ago. A combination of the Federal Reserve’s interest rate hikes and high inflation has taken a toll on car owners nationwide. A rise in auto repossessions has been sweeping the country, a bad sign for…
10 Hacks to Increase Your Credit Score Fast
Your credit score impacts everything from getting a favorable interest rate on a credit card to buying a home, paying for insurance, and more. If your current credit score is less than ideal, here are ten hacks to increase your credit score fast. 1. Dispute Errors on Your Credit Report Because of your credit report’s…
5 Ways to Build Your Credit Score in 2023
You’ve got big financial plans for 2023. Maybe they include buying a home or car, or getting a new travel rewards credit card to help pay for your next trip. There’s a key piece of these plans you may not have considered: building your credit score. A better credit score can expand your access to…
How to Repair Your Credit and Improve Your Credit Score
Your credit score is a three-digit number between 300 and 850, generated by a mathematical algorithm (a mostly secret formula) based on information in your credit report compared with information on tens of millions of other people. The resulting number is said to be a highly accurate prediction of how likely you are to pay…
Millennial Money: How Stay-at-Home Spouses Can Build Credit
Spouses share a lot, but no matter your relationship status, your credit score belongs to you and you alone. Even if you’re 100 percent supported financially by your spouse or partner, establishing and building your own credit score is essential. It can benefit you both as you navigate financial decisions together. But should you divorce…
How Shortcomings in Credit Scoring and Tax Processing Affect Consumers
There are nearly 50 million consumers in the United States without a firm credit score, leaving them financially fragile. Those same people are impacted by a massive IRS backlog of paper 1040s, leading to delayed tax returns. However, a few initiatives could help turn those circumstances around. Even if you generally feel well-to-do, it’s a…
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