Maintain your old Siemens Hipath system

What Is A FICO Score?

A credit score is most commonly known as a FICO score. FICO stands for Fair Isaacs Corporation. It's a company that developed the credit scoring software used to evaluate your credit worthiness.

Most lenders use the FICO score to determine whether they should extend to you a mortgage, car loan, credit cards and any other type of credit. The higher your score, the more credit worthy you are. Lenders will know that more than likely, you pay your bills on time. The lower your score, the more risk the lender takes on, guessing that you might not pay the loan on time.

The FICO score ranges from 300 to 850. More than likely, you'll end up paying a larger monthly payment on your mortgage if your score is below 650. Your credit score, according to, is determined by:

  • Payment history-35%
  • Amounts owed-30%
  • Length of credit history-15%
  • New credit-10%
  • And types of credit in use-10%
  • If you don't have any credit, your credit score can be lower than someone who has had a credit history for several years. When you personally check your credit often, this will not affect your credit score. When existing creditors review your credit, these inquiries are not counted in your score.

    Since payment history is 35% of your score, you want to make sure you don't have a history of late payments on your credit report. The longer your credit history, the better. Having too many new credit accounts open can affect your score negatively.

    The bottom line is that a higher FICO score means you are more credit worthy to potential lenders. The lower your score, the greater a risk you are to lenders and therefore, your monthly payments might be higher.

    Michelle Roebuck provides mortgage and home buying advice for people with bad credit at Sign up for her newsletter at http://www.find-bad-credit-mort

    In The News:

    Warning: simplexml_load_file() [function.simplexml-load-file]: parser error : Document is empty in /home/infob/public_html/includes/rss.php on line 2

    Warning: Invalid argument supplied for foreach() in /home/infob/public_html/includes/rss.php on line 9

    Erfahrungen mit Pallhuber Wein
    Agen Bola SBOBET Terpercaya

    Travel in comfort and at your leisure with CT Airlink Limousine & Car Service for top quality private transportation and exceptional customer service. We operate Sedans, SUVs & Vans for CT Car Services to covering all Connecticut airports including Car Service from CT to Newark Airport , Mohegan Casino Uncasville CT, Foxwoods Casino Mashantucket CT, Manhattan Cruise Terminal NYC, Brooklyn Cruise Terminal NYC and Bayonne Cruise Terminal NJ. CT Airlink hire licensed and friendly chauffeurs who have in-depth knowledge of the Areas.

    Home Loans ? Repair Your Credit Before You Buy

    Before you take out a home loan or make any... Read More

    Credit Problems? Heres How to Manage Your Creditors

    If you find that creditors are calling you almost daily... Read More

    My Student Credit Card Adventure

    And some practical advice too!My first credit card?I remember my... Read More

    What Does Your Credit Say About You?

    A credit report is more than just a snapshot of... Read More

    Credit cards

    If gold medals were awarded for marketing consistency, the credit... Read More

    Different Types of Credit Cards and Features - Part 1

    Just as there are too many credit card companies to... Read More

    Credit Report ? Watch Out for Parking Tickets

    The economic downturn of the last five years has affected... Read More

    Can Credit Search Entries Affect Your Ability to get Approved for a New Loan in the UK?

    About Search Entries:Every time a lender checks your credit history... Read More

    Rewards Cards - Are They Right For You?

    Rewards cards have become the latest rage in the credit... Read More

    Choosing a Credit Counseling Company

    If you have considered credit counseling as an option to... Read More

    Shoppers Beware - Tis The Season

    It's the number one complaint from consumers and it only... Read More

    Ten Steps To Building A Good Credit History

    Are you thinking of buying a house? Do you want... Read More

    Can You Acquire Good Credit Overnight? You Bet

    Your credit file may not reflect all your credit accounts.... Read More

    Why Does Your Credit Card Rate Keep Going Up?

    Have your read your credit card contract through completely? Do... Read More

    Credit Reporting: How Does It Work?

    In order to determine a consumer's credit worthiness, creditors and... Read More

    What To Look For In A Credit Card

    When you are deciding what type of credit card to... Read More

    Automobile Credit Report

    When applying for a loan to purchase a car, the... Read More

    SuperCharged Secret 3, Credit Card Utopia

    TURBO-CHARGED KILLER RATE SAVING INFORMATION!Let's just take a brief moment... Read More

    Bounced Checks - Straight Talk On Dealing With Bad Checks (NSF)

    A check can be considered bad if it is bogus... Read More

    Common Credit Score Myths

    A lot of credit score myths about fico score ratings... Read More

    Credit Repair Scam - How To Avoid Being A Statistic?

    A good credit history is critically important for the consumer.... Read More

    Building Your Credit History

    Today, credit is an indispensable part of our lives. In... Read More

    Credit Report Secrets: Do You Know What They Reveal?

    If you've ever applied for a credit card or loan,... Read More

    19,178 Identity Theft Victims Per Day - Are You One Of Them?

    Identity theft statistics are shocking. And we are told that... Read More

    Stop Credit Card Offers

    You can stop receiving credit card offers in the mail!... Read More