In our last installment of this series, we’ll address common myths about credit scores and set the record straight. If you missed parts 1 and 2 about how your credit score is calculated and steps to take to improve your score, be sure to take a look! Myth #1: Checking my credit score lowers—Read More
In our last blog post we discussed the top three factors used to calculate your credit score. Your credit score is a number between 300-850 that gives lenders an idea of your ability to repay loans in a timely manner. The higher your score, the better chance you’ll have of securing a loan with a—Read More
Do you know how your credit score is calculated? A credit score is based on a number of factors such as the number of open accounts you have, the total amount of debt you carry, your credit utilization — or the percentage of your available credit you use, and your repayment history, among others. Let’s—Read More
The FICO Resilience Index is a new credit rating that, while it has been in the making for many years, was recently released due to the economic downturn caused by COVID-19. This newest FICO index was created to help lenders better measure a person’s ability to keep their financial obligations in times of economic uncertainty. —Read More
