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

Are You Too Young to Build Credit?

Credit Score

Are You Too Young to Build Credit?

Are You Too Young to Build Credit?

Should high school seniors get a credit card to build credit? For these young adults and their parents, the question isn’t academic. They face this question as soon as they turn 18. The benefits of building good credit are numerous; lower interest rates when you borrow and lower insurance premiums are just two of them…. 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

The 5 Dumbest Credit Moves

Identity Theft

The 5 Dumbest Credit Moves

The 5 Dumbest Credit Moves

Several years ago, I watched in amazement when the CEO of a major identity theft protection firm, appeared in a series of commercials waving his Social Security card in the air, parading his Social Security number on a billboard through heavily populated urban areas and screaming his SSN through a bullhorn as a challenge to… 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

Does Your Credit Score Really Matter?

Credit Score

Does Your Credit Score Really Matter?

Does Your Credit Score Really Matter?

Do you use credit cards? Would you like to own a home or a car someday? If you want access to those and other loan products, you’ll likely need a decent credit score. The better your score, the more affordable the loans will be. Even if you’re not concerned with the ability to get loans… Read More

Why a Perfect Credit Score Doesn’t Matter

Credit Score

Why a Perfect Credit Score Doesn’t Matter

Why a Perfect Credit Score Doesn’t Matter

There are some people in life for whom an A on a report card was never good enough, who idly wondered why they were never above the 99th percentile on standardized tests and relentlessly beat themselves up whenever they came in second. In adulthood, some of those same people are relentlessly pursuing the highest possible… Read More

What Is My Real Credit Score?

Credit Score

What Is My Real Credit Score?

What Is My Real Credit Score?

If you care about your credit, then you know your credit score can have a huge impact on what you pay in interest for credit cards, mortgages, personal loans and more. Beyond that, a credit score will likely determine whether or not you qualify for a loan to begin with. It’s no wonder that more… Read More

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