What Does Your Credit Score Really Say About You?
To many, personal credit scores can be a bit of a mystery. How are they figured? What factors play into the creation of the score? Mostly, though, people want to know what they mean for their finances. Allow us to demystify credit scores.
What is a FICO score?
FICO is the leading credit score calculator in the United States, used by all the top banks, credit card companies, and car dealerships. Offering an objective estimate of how much of a financial risk an individual will be to a lender, FICO scores help lenders make an educated decision regarding whether to give credit or a loan to a potential borrower. Continue reading…