Understanding the Fico Scorecards

Understanding the Fico Scorecards

People ask, how much will a late payment affect my credit score? 100 points? 150? What affect will high utilization have on my credit score? The answer to all of these questions is that it depends. The Fico scoring model is built to be able to match your credit file...
Rate Shopping- Will It Affect My Credit Score?

Rate Shopping- Will It Affect My Credit Score?

Rate Shopping In the grocery, we find people that touch, squeeze, and feel every apple before they choose the one they want. This is called a shopper (not everyone is a shopper there are people who just go shopping). Possibly you’re not this type when you go shopping...
Which Credit Score Model Is Used When Applying For A Mortgage?

Everything You Need to Know About a Fico Score

Updated: 04/30/2019 Who is FICO? The company FICO  (Fair Isaac and Co.) was founded in 1956 by engineer Bill Fair and mathematician Earl Isaac. Nowadays it is a public company traded on the New York Stock Exchange. FICO is not owned by the US government....
Why Are My Credit Scores Different?

Why Are My Credit Scores Different?

When people check their credit score, should it be by Credit Karma or on their Discover statement, etc., they look at the three-digit number. They take it as a fact that this is their credit score. Period. The same way they know their age and weight, they feel that...