Clik here to view.
Why Are My Scores Different Across Credit Reporting Agencies? Shouldn’t They...
Circa 1997, the question posed in this article’s title was one of the questions I was asked during my interview at FICO. Thankfully I answered correctly! Credit scores are built using credit data at...
View ArticleClik here to view.
How Many Credit Cards Should I Use?
The amount you owe represents some 30 percent of your credit score points, which is the second largest contributor to your credit score. This category not only includes the total credit utilization...
View ArticleClik here to view.
Experian FICO Scores Available to Consumers Again. Should You Buy?
It’s official. myFICO.com, the consumer division of Fair Isaac, is now making available your Experian credit report and FICO score based on Experian data. FICO has quietly released the Experian/FICO...
View ArticleClik here to view.
Does the FCRA Require Credit Card Issuers To Report To The Credit Bureaus?
I received the following question from a twitter follower and fellow CrossFitter today. If you have a credit question for me please feel free to add them as a comment to any of my SmartCredit...
View ArticleClik here to view.
Are Joint Account Holders Responsible for Half of The Debt?
For joint account holders and co-signers…we’re in this thing 50/50, right? This question is usually asked by someone who is getting a divorce and is wondering what to do about his or her “joint” debt...
View ArticleClik here to view.
Will My Scores Go Up Considerably If I Pay Off My Debt?
“John, I just sold my house and thankfully I got enough to cover both of my mortgages, a first and a HELOC. When my credit reports are updated to show zero balances on those loans can I expect my...
View ArticleClik here to view.
How Bad Are Collections For My Credit Reports and Credit Scores?
“John, I’m in a battle with a doctor’s office over a bill they sent to me that I know is supposed to be paid by my insurance company. I flat out refused to pay it and now I think I screwed up. It’s...
View ArticleClik here to view.
Why should I pay more than the minimum on my credit card?
“John, other than not wanting to pay interest, is there any other reason I should pay more than the minimum on my credit card?” Wow, what a dangerous question. Not only are you paying interest but...
View ArticleClik here to view.
Do I have to carry a balance on my credit card in order to build credit faster?
“John, I’ve read that you can build credit faster if you carry a balance on your credit cards. Is that true? That seems like an expensive way to establish credit because of the interest charges.” The...
View ArticleClik here to view.
What’s The Difference Between A Credit Report and A Credit Score?
“John, I’ve read where you undress people who say credit scores are used by employers and then you get on them for using credit reports and credit scores as if they were the same things. Isn’t the just...
View ArticleClik here to view.
Can I Get A Higher FICO Score If I Have A One Percent Debt to Limit Ratio On...
“John, I’ve read on the Internet that if you have a 1% debt to credit limit ratio you’ll have a higher FICO score than if you have $0 balances on all of your credit cards. This sounds crazy to me so I...
View ArticleHow Early In Life Can I Have A Credit Report?
“John, I’m 16 years old and I’m already very interested in credit and you won’t guess why. My parents have terrible credit and I want to make sure I don’t follow! I know I’m only 16 but how early can...
View ArticleClik here to view.
How Much Credit is Too Much Credit?
“John, I am wondering how much credit is the right amount and how much is too much? Is there a simple answer to that question?” No, there isn’t a simple answer to that question. There is no “right”...
View ArticleClik here to view.
Per CFPB, If You Furnish Information To The Credit Bureaus You Better Perform...
Today the CFPB (Consumer Financial Protection Bureau) put companies that provide information to the credit bureaus (“data furnishers”) on notice that when the receive a dispute from the consumer or via...
View ArticleClik here to view.
Should I care which credit bureau the lender uses when I apply for credit??
“John, I’ve read articles where you use the term “strategic shopping” to describe choosing lenders that use the credit report where you have the highest FICO or VantageScore credit score. Can you...
View ArticleClik here to view.
What Happens to My Credit When I Move Outside The United States?
“John, my husband has taken a new job overseas and I think we’ll be there for at least 3 years. We’re both 32 years and have about 10 years of credit experience under our belts. What’s going to happen...
View ArticleHow Many Points Are Credit Inquiries Worth in Your Credit Score?
“John, I read online that each inquiry lowers your credit score by 3 to 5 points. Is that true? I’ve also seen 12 points and I’ve seen zero points. Why are there so many different answers to the...
View ArticleWhat is Your Identity Worth?
You. Taking charge of your financial life begins with knowing your net worth. Of course, the higher that value, the better off you are. The straight forward way of calculating your net worth is the sum...
View ArticleBuying, Renting, or Failure to Launch
What’s on your mind? Many people often find themselves at a financial crossroad. You might have graduated college recently, and after working for the last few years, must decide what to save up for in...
View ArticleShopping for Credit
Cheers to a New Job! A scenario we witness very often in our society goes something like this: you get a new job or a pay raise and everything changes. With the first paycheck you move to a new...
View Article