So, what is a good FICO score? FICO stands for Fair Isaac and Company. Fair Isaac and company invented a scoring system that could statistically tell how a series of loans would perform and then assigned a scoring system for banks to follow. (more…)

Credit scores are the determining factor on how good the deal is for most of the major purchases we make in life. Managing your credit wisely can save thousands of dollars over one’s lifetime and even contribute to a comfortable retirement. Think about this, improving your credit scores by 50 points can save around $33,000 over the life of the average mortgage. If you also consider the likelihood that you will also pay higher rates on car loans, and credit were talking about a huge sum of money. What if you were able to put all of that money into a retirement account, wow! (more…)

Credit scores are the determining factor on how good the deal is for most of the major purchases we make in life. Managing your credit wisely can save thousands of dollars over one’s lifetime and even contribute to a comfortable retirement. Think about this, improving your credit scores by 50 points can save around $33,000 over the life of the average mortgage. If you also consider the likelihood that you will also pay higher rates on car loans, and credit were talking about a huge sum of money. What if you were able to put all of that money into a retirement account, wow!

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• 500 - 599 - Bad Credit
• 600 - 659 - Fair - Average Credit
• 660 - 716 - Good to Very Good Credit
• 720 - 850 - Impeccable Credit

Now that we have that out of the way, if you would like to know how these scores are calculated and how to improve on them read on…

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