Your Credit Score Decoded

Hi All,

Some time ago - back in late March 2015 specifically - Yahoo! Finance did a piece on credit scores.  Basically they discussed how the final credit score number is generated.  Click on this link for the video - and note that a credit score is composed of 5 parts: payment history, debt balance, length of credit history, new credit applications and types of credit.

The rest of this brief blog post will discuss ways to increase your credit score.

Bankrate.com has an article titled, '7 Simple Ways to Improve Your Credit Score'

Myfico.com has an article titled, 'Improve Credit Score: Tips Repair and Improve Your Credit Score'.

Even Forbes.com got into the act with an article on credit scores...title of the article is '11 Ways to Raise Your Credit Score, Fast'. 

US News and World Reports wrote an article called '10 Simple Ways to Raise Your Credit Score'.

So there you have it...a total of 28 ways to help you increase your credit score - and from different sources.  Finally, the Federal Reserve Bank has a link titled '5 Tips: Improving Your Credit Score' - which can be found at this link.

Finally, if you need to contact individual credit score companies, click the following links:
TransUnion, Equifax and Experian.

We have a whole bunch of books in the library if you are interested in reading a book on increasing your credit score.  Click here for a link to the card catalog for the books on credit scores and how to increase your credit score.

Hope the links help you increase your credit score - and fast!

Regards,
Stu

 

Credit Reports

Hi All,

You've probably heard about something called a 'credit score' in the news lately.  Click here for a fairly recent article about credit scores. (Specifically the big three credit reporting agencies are overhauling their credit reporting practices.)

But what exactly does a credit score do for you?  Interestingly enough, this next article is from Wikipedia - and gives you a good summary of what is, and what is not, a credit score. 

This next link is from myFICO.com and has a section about credit scores.  What makes a good credit score you ask?  Read on!  Credit.com has a good summary of the credit score ranges for various credit agencies.

Note that there are 3 different major companies that generate credit reports: Experian, TransUnion  and Equifax.

How can you get a free copy of your credit report you ask? Great question - click on this link to a get a copy of your credit report.

Readers might want to click on this next link which is from Bankrate.com - an unbiased source for information related to mortgages, bank rates, credit cards, insurance, investments, taxes, retirement, financial planning and much more - titled 'How to Read a Credit Report'.  

You might want to click on this link from the FTC.gov which discusses credit reports in more detail. 

Finally, the library has 9 books on the topic of consumer credit.  Click on this link to see those titles that we have in the library. 

Hope this helps you get a credit score that you need or want or deserve!

Regards,
Stu