Credit Scores - FICO Score, VantageScore, Scoring Models
Knowing your credit score is vital if you are going to apply for a home or car loan or a credit card. The lower your score, the more you are going to pay in interest, if you can even get a loan in the first place.
There are numerous ways to get your credit score along with your credit report. But, once you get your report, how did they come up with your score and how can you increase it? These are but a few of the topics covered in the articles below. A great place to start is with our Credit Score FAQ page - then check out more of our credit score articles below.
How to Get Your Credit Score
- Get Your Credit Score - Before you begin to repair your credit, it is imperative you know your credit score. We have a listing of recommended companies you can use to obtain your credit report and your credit score.
- CFPB's Free Credit Score Initiative - The Consumer Financial Protection Bureau aims to make it possible for consumers to get a monthly credit score with their credit card statements.
- Free Credit Score with Financial Reform Bill - The passing of HR 4173 in July of 2010 brought many benefits to consumers in the way of financial protection and over site. See how this bill will help you.
- Should You Monitor Your Credit Score? - Signing up for a credit monitoring service may be an easy and convenient way to check your credit score, but do you really need to monitor it on a daily basis?
- Credit Score and Dating - There is nothing wrong with wanting to know a potential partner's credit score, but is it really okay to ask for a credit score on the first date?
- Credit Score Truths - If you are fixing your credit, you need to know the truths regarding your credit score.
How is Your Score Calculated?
- Credit Score Basics - Most Americans have no idea what goes into a credit score and what types of scoring models are used when applying for a loan. This article breaks it down into easy to understand concepts so you can get a general overview of credit scores.
- What Goes Into Your Credit Score - Coming up with that magical three-digit number is a highly guarded secret by the big three credit bureaus. See what five categories make up your credit score.
- What is the Right Credit Mix? Having a good credit score is more than just removing negative items. It also requires a good mix of different types of credit.
- Will Credit Inquiries Affect Your Credit Score - Ever wonder what those credit inquiries are on your report and if they affect your score. Some do and some don't - see which is which.
- What Things Do Not Affect Your Score - Contrary to some myths, there are certain actions you make that will not affect your credit score. Get the straight facts before you start repairing your credit.
- What Influences Your Credit Score - There are things you can do that will influence your credit score and some actions which do not make a difference at all.
- How Does Your Credit Score Compare to Other Americans - Is your credit score as bad as you think in comparison to other Americans? See which states have the worst credit scores.
Increase Your Credit Score
- Ways to Increase Your Credit Score - Now that you know your score, find out how to increase it so you can get a better interest rate on your next loan.
- Rapid Rescore - Learn how mortgage brokers use rapid rescore to quickly increase credit scores to close loans for their customers. Will this help you when buying your next home?
- Why Do Credit Scores Fluctuate - You will notice a different credit score from each of the major credit reporting agencies. We will tell you why and which one really matters.
- Low Credit Score Will Cost You Money - A low credit score equates to higher interest rates. This will cost you more money in the long run.
- One Late Payment Impacts FICO Score - Before you mail in that credit card payment late, read this article to see how just one late payment can affect your credit score.
- Things That Affect Your Credit Score - Sometimes the littlest things have the biggest effects. That goes for your credit score - things you might not expect to affect your score.
- Can Rent Help Your Credit Score? - If you are thinking of using a rent-to-own store to obtain new furniture, think again as these timely payments may not help your credit score.
- Will a Mortgage Hurt Your Credit Score? - If you qualify for a home loan, be careful, because if you overextend your finances, you can hurt your credit score.
- Increase Your Score Before Getting a Mortgage Loan - We have tips on increasing your credit score if you are planning on buying a home in the next year. Start early and clean up your credit before you apply for a mortgage loan.
- How to Build Up Your Business Credit Score - If you own a business, it is a good idea to check your credit reports and your business credit score. Building up the credit score has many advantages and we will show you how.
- How to Minimize the Impact of a Short Sale on Your Score - Maybe you have no choice but to go through a short sale so don't let it bring your score down. We have some tips to help minimize the damage.
- Habits to Follow for a Great Credit Score - We will give you the habits followed by people who have great credit scores so you can make these habits your own.
Credit Scoring Models - FICO, VantageScore, and Other Scoring Models
- FICO vs VantageScore - We have outlined the pros and cons of FICO vs VantageScore credit scoring models. You can decide which one you feel is better.
- FICO 9 Release - A FICO score update could be coming soon and just may increase your credit score.
- Changes to FICO Score - Read about changes to Fair Isaac's Credit Scoring Model, FICO 8.
- Why FICO Score Reigns Supreme - When you hear a credit score, the first thing that comes to mind is a FICO score. Learn why this score is the one most lenders use to determine credit worthiness.
- What is VantageScore - This scoring model was developed to compete with FICO - but has it really taken hold at the lending institutions.
- New Credit Scoring Models - Lenders are using more than just your FICO score to determine your creditworthiness. We have uncovered the other scoring models lenders are using.
- CreditVision Link Scoring Model - TransUnion has unveiled a new scoring model targeting those with no credit score. This may help those with no credit be able to get lines of credit at good rates.
- What is an Insurance Score? - Your insurance credit score will determine your insurance rates and can detect possible insurance fraud.
- Social Media Credit Scoring - This relatively new method of credit scoring seems to be picking up steam. See the pros and cons of this scoring method.
- Are Credit Score Alternatives Gaining Ground? - Lenders are starting to use other ways to determine credit worthiness besides just a FICO score. Are these methods really taking off?
- Secret Credit Scores Lenders Use - Have you ever heard of revenue score, behavior scoring or a collection score? These are just a few of the secret scoring models lenders use to determine if you are a desirable risk.
- Different Credit Scores Used by Lenders - Lenders don't just use your FICO credit score anymore. There are over 50 different credit scoring systems out there, so how do you know which one your lender is using? Find out.