FICO Score Factors: The 5 Components and Their Weights

The FICO score factors are what you need to keep in mind if you are trying to raise your FICO score. In fact, 90 percent of lending decisions in the United States are based on FICO scores, so it’s essential that you know how the factors affect your FICO score. Here are the 5 components of a FICO score and how they are weighted. 1. […]

December 29, 2020

Published by DBascombe at December 29, 2020

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Credit

Filing for Bankruptcy: Here’s What Should You Do Before You File

Bankruptcy is typically considered as a last resort if you are unable to pay your bills and are deep in debt. Before you decide to file for bankruptcy, weigh your options carefully because bankruptcy will have a lasting impact on your credit and could disrupt your financial plans. Here are some things to do before you decide to file for bankruptcy. Negotiate With Your Mortgage […]

December 24, 2020

Published by DBascombe at December 24, 2020

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Credit

3 Tips to Help You Establish Business Credit Faster

Business credit is a requirement if you want to qualify for financing. Like individuals, businesses also have credit reports which are monitored by the business credit bureaus Dun & Bradstreet, Equifax, and Experian. If you want to apply for credit or insurance or plan to do a business deal, your business credit report may be used by lenders, creditors, insurance companies, or suppliers in order […]

September 8, 2020

Published by DBascombe at September 8, 2020

Categories

Credit

Credit Report 101: What Is High Credit?

How you manage your credit now and how you managed it in the past can come back to haunt you, lowering your score. This phenomenon is known as “high credit.” But how does high credit hurt your credit score and what can you do about it? How High Credit Factors Into Your Credit Score You’re credit score may seem like a number that is just […]