|We cannot live only for ourselves. A thousand fibers connect us with our fellow men. - Herman Melville|
|Home Credit-to-Debt Ratio Debt-to-Income Ratio|
Understand Your FICO Credit Score
Fair Isaac Corporation Generates Your FICO Score
FICO stands for Fair Isaac Corporation. This firm created the original scoring model in the late 1950s. Since that time, FICO scoring has become commonly accepted by lenders as a reliable method for credit rating. Based on the data from your credit report, it provides the best guide to future credit risk. The lower the risk - The higher the score. In general, the following factors are used to make up the final score and determine how creditworthy you are:
Using mathematical tables, points are assigned to each finding and totaled for the final score. There is no single cutoff score used by all lenders. FICO scoring is not a definitive method of determining who will be a “good” or “bad” risk. Each lender has its own overall strategy.
Click the links below to see ways you can improve your credit score.
How to Improve your FICO Score
If your FICO score is lower than you like, see steps you can take to repair credit scores.
More Financial Info
Should you get a payday loan or another type of loan?
There are many kinds of debt, but credit card debt is probably the worst.
Hire Purchase: In the UK, generally, the consumer is aware of the hire purchase terms and conditions of the sale. Each financial institution offers different hire purchase loans that can vary in terms and conditions. The borrower should be aware of them all.
Bettertrades can provide the stock market education needed to make money in stock trading.
After Bankruptcy: There’s a risk you have to take in every business, in every system where money’s constantly circulating and attracting more money...after all, this is what business is all about.
Get online mortgage quotes that will meet your mortgage requirements. Find out how you will get the best mortgage quotes.
Report A Broken Link Contact Information