Posts Tagged ‘fico score’

FICO Fitness Fundamentals

Posted November 25, 2008 by Bernz

fico_scoreA FICO score is the number that determines the interest rate you pay on credit cards, car loans and mortgages. It also determines whether or not your application is approved for an apartment or whether or not you qualify for a cell phone plan. Your FICO score can even affect your ability to get a job. Your FICO score is based on a calculation from the history in your credit reports from these three major credit bureaus: Equifax, Experian and TransUnion.

The FICO score is linked to just about every financial step you take. Basically it boils down to being a number representation of your past and current spending and bill paying habits. For this reason it’s critical you learn your FICO score and that you manage it well.

High FICO scores represent good credit and low FICO scores are associated with poor credit. Your goal should be to keep your score in the 720 to 850 range. (more…)

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