Credit 101

Credit Report Frequently Asked Questions FAQ

Credit Reports – Frequently Asked Questions

Your personal credit report contains details about your financial behavior and identification information. This user-friendly report is sometimes called a credit file or a credit history. Your credit report is made available to current and prospective creditors, employers and others as permitted by law, which may speed up your ability to get credit. Getting a […]

Things that affect your credit scores

Surprising Things You Didn’t Know Affect Your Credit Score

1. Collections You may not realize that many of your day-to-day outstanding debts that occur are sent to collections. These third-party debt collectors typically report these outstanding accounts to the credit bureaus, which could show up on your credit report and affect your score. These day-to-day outstanding debts may include things like your utility bill, […]

FICO credit score range

Your FICO Score Range and Why It Matters

FICO scores are used in 90% of credit decisions to accurately understand your credit risk as a borrower. When you are obtaining financing, lenders use your FICO score, financial situation (income, job status) and type of credit requested to make better credit lending decisions, which ultimately determine your approval and rates. The factors that influence […]

Lenders Evaluating Credit

How Do Lenders Evaluate Credit?

No matter when you’re ready to buy a home, your credit score will be a major factor in the lender’s decision to approve you for a mortgage.The mortgage process can seem pretty daunting, but the better it is understood, the smoother your home buying experience will be. Some of the things lenders typically look at when evaluating […]

What impacts your Credit Score

Open and Closed Credit Accounts and How They Impact Your Credit Score

Open and Closed Credit Accounts We wanted to share some important credit information that’s helpful at all times – not just when you are considering buying or refinancing a home. Some of the rules of thumb are obvious – others are not. For example, it makes sense that someone intent on improving their credit should […]

Your FICO Score – A Key Piece of the Puzzle

Did you know that FICO Credit Scores are used in making over ten billion credit decisions each year? If you’re thinking of buying or refinancing a home, you probably know that other elements also affect your ability to get approved for a loan, including income and employment history. However, most financial institutions use the Fair […]

Breaking Down Your Credit Score

Breaking down your credit score and learning about how it’s calculated doesn’t have to be a headache. What is the Credit Score range? Transcript Most people are familiar with the FICO score version of the credit score. Scores on the FICO scale range from 300 to 850. However, there isn’t just one credit score range […]