August 25th, 2009 by Kenneth Long
Mortgage brokers say that having too many open accounts can hurt your credit. Fair Isaac Corp, the force behind FICO credit scoring says that closing accounts can lower your score. Yet, a recent FICO study suggests that lowering credit limits can actually increase FICO scores. It makes you wonder who is right! Here is the truth. Read the rest of this entry »
Category: Credit Cards, Credit Scores | No Comments »
August 14th, 2009 by Kenneth Long
The biggest update to FICO-based credit scoring in years faced opposition from credit bureaus that had hoped to push their own jointly developed scoring model. However, lenders and consumers pushed for the newest and most accurate FICO based products rather than risk relying on the unproven VantageScore products. Experian has finally agreed to adopt FICO 08 changes even though it is still involved in a bitter dispute with Fair Isaac. Read the rest of this entry »
Category: Credit Scores, Financial News | No Comments »
July 1st, 2009 by Kenneth Long
FICO scores have faced a lot of criticism from consumers that have had their credit limits slashed recently. Most argue that it is unfair that their credit scores drop due to arbitrary credit limit reductions by creditors. However, the higher risk caused by market conditions does justifiably affect your scores, even if the lower score is caused by your creditors dropping your credit limits. While the cause is not necessarily fair to you, here is how it is justified. Read the rest of this entry »
Category: Consumer Protection, Credit Cards, Credit Scores | 1 Comment »
April 30th, 2009 by Kenneth Long
The secret credit scoring formula is one of the best guarded secrets of our time. For those trying to figure out how to get a better score, it can be confusing since there is no public knowledge of exactly how FICO scores are calculated. There is an additional complication that can make it almost impossible to truly understand how the formula works. Read the rest of this entry »
Category: Credit Scores | 1 Comment »
April 17th, 2009 by Kenneth Long
(Chapel Hill, NC) In partnership with Fiscal Progress, Vision Credit Education will be providing a credit repair workshop at The Women’s Center on Thursday, April 23, 2009. Instead of paying for an expensive credit repair service, find out how you can improve your own credit for free. Read the rest of this entry »
Category: Credit Repair, Credit Scores, Events | No Comments »
