All About Credit Scores

Here’s an impossible question to answer–What’s my credit score? The reason nobody can answer that question is because we all have more than one score. In fact, we have many, many credit scores. Here’s another impossible question to answer–What’s my FICO credit score? Surely there is just one FICO score for each of us, right? […]

Published or Updated: March 3, 2015

What is the Average Credit Score?

The desire to know what your credit score is in comparison to the national average may be fueled by an innate interest to understand where you fall in comparison to others or it may be motivated to understand what it takes to qualify for a loan. As we’ve written before, all credit scores range from […]

Published or Updated: August 3, 2011

Enough Practice – Make Your Credit Score Perfect!

A FICO credit score can determine a very large number of decisions in your life.  Where you live, what you drive, where you work and where you and or your kids go to school can depend on a 3-digit magic number.   The range of scores begins at 300, for the individuals in life that have […]

Published or Updated: March 5, 2013

How a Late Mortgage Payment Affects Your Credit Score

Have you ever wondered how a late mortgage payment would affect your credit score? How about a foreclosure or bankruptcy? Well, the folks over at FICO did some research into this question and the results may surprise you. The FICO research looked at three hypothetical consumers with starting credit scores of 680, 720 and 780. […]

Published or Updated: March 5, 2013

How to Establish Credit After Bankruptcy

The most detrimental thing you can do to your credit is file for bankruptcy.  In fact, your credit report will reflect the bankruptcy for at least for the next 7-10 years.  Often times, however, bankruptcy is the only option you have to square your finances, so ironically, you’re hurting your credit, to save it later. […]

Published or Updated: March 5, 2013

Do Prepaid Cards Help You Establish Credit?

I’ve had several readers ask me recently whether they can establish credit with a prepaid credit card. Most recently, a reader named Lynn asked the following: Please contact me about the availability of a pre-paid credit card to help me establish credit. The topic of building credit can be a confusing one, and whether prepaid […]

Published or Updated: May 22, 2012

My Credit Karma Credit Score is Over 600!

Two years ago, around the time when I had left my full time office job to work online, my credit score was in the tank.  I wasn’t making enough money to support myself and my massive debt load and as a result,  I was late on almost every payment I made.  And if that wasn’t […]

Published or Updated: March 5, 2013

How Active Duty Members can get Their FICO Credit Score for Free

Having lived in the Washington, D.C. area for 20 years, I’ve seen firsthand the sacrifices military personnel and their families make each and every day. The late night visits to my home when a Marine needs help with his will before heading overseas is a solemn reminder of what’s at stake for these families. So […]

Published or Updated: February 16, 2013

What is Your Vantage Score?

In case you aren’t confused enough by the multitude of different credit reporting companies and credit scores, here is one more to contemplate: the VantageScore.  This score was created by a combined effort of the three big credit bureaus—Experian, TransUnion, and Equifax.  Although the VantageScore has been around since March of 2006, consumers tend to […]

Published or Updated: March 15, 2013

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