Who Is Fair Isaac?

Credit Score

Who Is Fair Isaac?

Who Is Fair Isaac?

FICO is one of the best known names in the credit industry — it’s practically synonymous with credit scoring, despite the existence of hundreds of other scoring models. The first general-purpose credit score (Beacon at Equifax) came from FICO in 1989, effectively transforming the consumer lending landscape to heavily incorporate predictive analytics. Anyone who has… Read More

What Is the Worst Credit Score?

Credit Score

What Is the Worst Credit Score?

What Is the Worst Credit Score?

You want a great credit score?  First you need to know what you’re working with. Even if you know the number of your score, you won’t know if it’s good or bad until you know the range used by the scoring model. If you have poor credit, you may be dealing with a score in… Read More

Where Did Credit Scores Come From?

Credit Score

Where Did Credit Scores Come From?

Where Did Credit Scores Come From?

If you’ve ever applied for a credit card or loan, you’re probably aware that your credit score was used in the application review process. But that wasn’t always the case. Lenders started using credit scores for consumer loan products in the 1980s, but the roots of credit scoring came decades earlier. In 1941, the National… Read More

New Bill Would Mandate a Free Annual Credit Score

Credit Score

New Bill Would Mandate a Free Annual Credit Score

New Bill Would Mandate a Free Annual Credit Score

Americans would gain free access to their credit scores and new rights to challenge errors that keep scores low under a bill introduced in the U.S. Senate on Wednesday. The “Stop Errors in Credit Use and Reporting (SECURE) Act” is sponsored by Sens. Brian Schatz (D-Hawaii) and Sherrod Brown (D-Ohio). The legislation would force the… Read More

Can Posting Bail Hurt Your Credit?

Credit Score

Can Posting Bail Hurt Your Credit?

Can Posting Bail Hurt Your Credit?

It’s spring, and that means spring break, graduation season and perhaps a bit of reckless behavior parents hadn’t expected. If you get a 2 a.m. phone call — the good news that your kid is not in the hospital, the bad news that he needs bail money — what’s a sleepy, startled parent to do?… Read More

6 Credit Card Tips for the Unemployed

Credit Cards

6 Credit Card Tips for the Unemployed

6 Credit Card Tips for the Unemployed

So you recently lost your job? Becoming unemployed is scary, to say the least. You’re not sure when you’ll find employment, and you may not receive unemployment insurance payments for weeks — or even months — after you first apply. It’s easy to mishandle your credit cards during this stormy season. You may be tempted to keep… Read More

The Smart Way to Rebuild Credit

Credit 101

The Smart Way to Rebuild Credit

The Smart Way to Rebuild Credit

Even if you’re not the most organized person, you should have a plan for building a good credit score.  The good news is building credit isn’t complicated — you just need to know a few things to get started. Know What You’re Dealing With If you don’t know what’s broken, you’re going to struggle to… Read More

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