Tom Quinn is Vice President of Scores at FICO (Fair Isaac), and has more than 25 years of experience in the credit industry with previous positions at FICO, Nomis Solutions, MDS (now known as Experian) and Citibank.
Many people affected by Hurricane Sandy have reached out with questions about the potential impacts this natural disaster can have on their credit scores, as the storm has severely impacted “normal” daily living activities we all take for granted — including mailing a mortgage payment or paying a credit card bill online. The fact that... Read More
Your credit score is typically represented as a three-digit number that lenders use to help them understand your future credit risk. To understand what that three-digit score means, you need to review it in the context of where it resides in the overall credit score scale. A score of 350 can have a drastically different... Read More
It’s no secret that the cost of getting a college education can be downright frightening with the total four-year tuition and living expenses costing more than a new home, in some cases. While many families have worked hard to save money in anticipation of this expense, the fees have become so high that many parents... Read More
Most consumers are aware that how they manage “standard” credit obligations — such as mortgage, automobile and student loans as well as credit cards — are recorded in their credit histories at the three major national credit reporting agencies (Equifax, Experian, TransUnion). This information is then accessed and used by lenders when evaluating a person’s... Read More
Many consumers find the early fall an ideal time to shop for a new car, as the automakers are bringing in the next year’s new models and often have attractive incentives and special financing terms both on last year’s leftover stock and the new models. If you are considering purchase and financing an automobile in the... Read More
Jackie is getting ready to purchase a new car and needs to take out a car loan. To prepare for the transaction, she has done her homework and accessed her credit reports and credit scores and checked the credit reports for accuracy. She has noticed that the credit score on one of the credit reports... Read More
Forecasting experts evaluate many different data elements and trends to try to predict if the economy is in a recovery trend or not. Two important items analyzed are consumer credit behaviors and how much new credit is being extended by lenders. During a recession, many consumers (in general) reduce their levels of borrowing — instead... Read More
Mike from Buffalo lost his job and experienced financial difficulties in 2003 that resulted in his filing for bankruptcy. Since that time, he has carefully managed his finances and has had steady employment for the last three years. He is looking to purchase a home, but feels he is not being presented with the lowest... Read More
Many people are surprised to learn that being unemployed does not directly impact one’s credit score as employment status is not a data element considered by a credit bureau risk score. However, it may indirectly impact the credit score if a consumer’s credit behavior changes as a result of the loss of employment. For example,... Read More
Congratulations! You survived the big wedding day, hopefully enjoyed a blissful honeymoon and are now getting settled into married life. Successful marriages require a lot of effort on the part of both parties and the management of finances should be an important area of focus. As troubled financial issues are one of the leading causes... Read More
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Thanks for checking out Credit.com. We hope you find the site and the journalism we produce useful. We wanted to take some time to tell you a bit about ourselves.
The Credit.com editorial team is staffed by a team of editors and reporters, each with many years of financial reporting experience. We’ve worked for places like the New York Times, American Banker, Frontline, TheStreet.com, Business Insider, ABC News, NBC News, CNBC and many others. We also employ a few freelancers and more than 50 contributors (these are typically subject matter experts from the worlds of finance, academia, politics, business and elsewhere).
We take great pains to ensure that the articles, video and graphics you see on Credit.com are thoroughly reported and fact-checked. Each story is read by two separate editors, and we adhere to the highest editorial standards. We’re not perfect, however, and if you see something that you think is wrong, please email us at editorial team [at] credit [dot] com,
The Credit.com editorial team is committed to providing our readers and viewers with sound, well-reported and understandable information designed to inform and empower. We won’t tell you what to do. We will, however, do our best to explain the consequences of various actions, thereby arming you with the information you need to make decisions that are in your best interests. We also write about things relating to money and finance we think are interesting and want to share.
In addition to appearing on Credit.com, our articles are syndicated to dozens of other news sites. We have more than 100 partners, including MSN, ABC News, CBS News, Yahoo, Marketwatch, Scripps, Money Magazine and many others. This network operates similarly to the Associated Press or Reuters, except we focus almost exclusively on issues relating to personal finance. These are not advertorial or paid placements, rather we provide these articles to our partners in most cases for free. These relationships create more awareness of Credit.com in general and they result in more traffic to us as well.
Our Business Model
Credit.com’s journalism is largely supported by an e-commerce business model. Rather than rely on revenue from display ad impressions, Credit.com maintains a financial marketplace separate from its editorial pages. When someone navigates to those pages, and applies for a credit card, for example, Credit.com will get paid what is essentially a finder’s fee if that person ends up getting the card. That doesn’t mean, however, that our editorial decisions are informed by the products available in our marketplace. The editorial team chooses what to write about and how to write about it independently of the decisions and priorities of the business side of the company. In fact, we maintain a strict and important firewall between the editorial and business departments. Our mission as journalists is to serve the reader, not the advertiser. In that sense, we are no different from any other news organization that is supported by ad revenue.
Visitors to Credit.com are also able to register for a free Credit.com account, which gives them access to a tool called The Credit Report Card. This tool provides users with two free credit scores and a breakdown of the information in their Experian credit report, updated twice monthly. Again, this tool is entirely free, and we mention that frequently in our articles, because we think that it’s a good thing for users to have access to data like this. Separate from its educational value, there is also a business angle to the Credit Report Card. Registered users can be matched with products and services for which they are most likely to qualify. In other words, if you register and you find that your credit is less than stellar, Credit.com won’t recommend a high-end platinum credit card that requires an excellent credit score You’d likely get rejected, and that’s no good for you or Credit.com. You’d be no closer to getting a product you need, there’d be a wasted inquiry on your credit report, and Credit.com wouldn’t get paid. These are essentially what are commonly referred to as "targeted ads" in the world of the Internet. Despite all of this, however, even if you never apply for any product, the Credit Report Card will remain free, and none of this will impact how the editorial team reports on credit and credit scores.
Credit.com is owned by Progrexion Holdings Inc. which is the owner and administrator of a number of business related to credit and credit repair, including CreditRepair.com, and eFolks. In addition, Progrexion also provides services to Lexington Law Firm as a third party provider. Despite being owned by Progrexion, it is not the role of the Credit.com editorial team to advocate the use of the company’s other services. In articles, reporters may mention credit repair as an option, for example, but we’ll also be sure to note the various alternatives to that service. Furthermore, you may see ads for credit repair services on Credit.com, but the editorial team isn’t responsible for the creation or implementation of those ads, anymore than reporters for the New York Times or Washington Post are responsible for the ads on their sites.
Lastly, much of what we do is informed by our own experiences as well as the experiences of our readers. We want to tell your stories if you’re interested in sharing them. Please email us at story ideas [at] credit [dot] com with ideas or visit us on Facebook or Twitter.
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- The Credit.com Editorial Team