Comments on: Your FICO Credit Score Information: What It Means http://www.thedigeratilife.com/fico-credit-score-information/ Helping You Make Smart Financial Choices Fri, 10 Feb 2012 19:05:58 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Bettina http://www.thedigeratilife.com/fico-credit-score-information/#comment-652118 Bettina Tue, 20 Dec 2011 22:11:18 +0000 http://www.thedigeratilife.com/guid/13851-2011-09#comment-652118 There’s a lot of information out there about how to improve your credit score. You can certainly learn a lot by checking out the myFICO.com site which has an active forum, community, tools and products on this subject. There’s a lot of information out there about how to improve your credit score. You can certainly learn a lot by checking out the myFICO.com site which has an active forum, community, tools and products on this subject.

]]> By: Bustor http://www.thedigeratilife.com/fico-credit-score-information/#comment-292473 Bustor Mon, 04 Jan 2010 05:25:33 +0000 http://www.thedigeratilife.com/guid/13851-2011-09#comment-292473 Like some people have said here, FICO reflects (to a large extent) a person's financial health. Financial health does not mean only money or good reserves or property, it also means the 'ability to repay' the financial obligations. Credit information is good information for many who want to get their houses and vehicles financed as things have started looking up after the dreadful recession last year. What started the recession was this reason: banks and institutions lent out more than they could collect from borrowers; result, banks lost funds and many closed down. The rest is history but keep this in mind. Learn about the past and avoid repeating it! Like some people have said here, FICO reflects (to a large extent) a person’s financial health. Financial health does not mean only money or good reserves or property, it also means the ‘ability to repay’ the financial obligations.

Credit information is good information for many who want to get their houses and vehicles financed as things have started looking up after the dreadful recession last year.

What started the recession was this reason: banks and institutions lent out more than they could collect from borrowers; result, banks lost funds and many closed down. The rest is history but keep this in mind. Learn about the past and avoid repeating it!

]]> By: Mary Hall http://www.thedigeratilife.com/fico-credit-score-information/#comment-273593 Mary Hall Thu, 22 Oct 2009 03:33:49 +0000 http://www.thedigeratilife.com/guid/13851-2011-09#comment-273593 @Annie: That seems to be extremely true these days. Even landlords check out a prospective tenant's credit records now during the application period. @Annie: That seems to be extremely true these days. Even landlords check out a prospective tenant’s credit records now during the application period.

]]> By: Lawrence http://www.thedigeratilife.com/fico-credit-score-information/#comment-266962 Lawrence Thu, 01 Oct 2009 03:11:53 +0000 http://www.thedigeratilife.com/guid/13851-2011-09#comment-266962 Although I have great doubt it will ever actually come to be, people would probably do much better in life if credit was a mandatory semester taught in high school. Although I have great doubt it will ever actually come to be, people would probably do much better in life if credit was a mandatory semester taught in high school.

]]> By: Annie http://www.thedigeratilife.com/fico-credit-score-information/#comment-253305 Annie Mon, 13 Jul 2009 02:59:44 +0000 http://www.thedigeratilife.com/guid/13851-2011-09#comment-253305 Having the best FICO score or credit score possible should be a high priority in your life because it can have an effect on some various things. Just getting a new job or a promotion within many companies these days will really depend on having a good FICO score. Having the best FICO score or credit score possible should be a high priority in your life because it can have an effect on some various things. Just getting a new job or a promotion within many companies these days will really depend on having a good FICO score.

]]> By: Sam http://www.thedigeratilife.com/fico-credit-score-information/#comment-252978 Sam Fri, 10 Jul 2009 19:37:30 +0000 http://www.thedigeratilife.com/guid/13851-2011-09#comment-252978 It's a strange system. At least with this info, you can learn some of the rules. It’s a strange system. At least with this info, you can learn some of the rules.

]]> By: Bill http://www.thedigeratilife.com/fico-credit-score-information/#comment-251688 Bill Thu, 02 Jul 2009 16:29:09 +0000 http://www.thedigeratilife.com/guid/13851-2011-09#comment-251688 FICO is fully rigged against your financial health. I have no credit card debt, just paid off my house and only have a small car note. What did paying off my house get me? A drop of 50 points. Yes, that's right, lets penalize the guy who has never had a late payment in over 10 years, saves money and lives within his means. God help me when I pay the car off I'll probably go into the 600's. Common sense would say I'm the safest guy to lend money too but that's not what FICO is about. FICO is fully rigged against your financial health. I have no credit card debt, just paid off my house and only have a small car note. What did paying off my house get me? A drop of 50 points. Yes, that’s right, lets penalize the guy who has never had a late payment in over 10 years, saves money and lives within his means. God help me when I pay the car off I’ll probably go into the 600′s. Common sense would say I’m the safest guy to lend money too but that’s not what FICO is about.

]]> By: eMoneyLog http://www.thedigeratilife.com/fico-credit-score-information/#comment-249350 eMoneyLog Tue, 16 Jun 2009 17:01:48 +0000 http://www.thedigeratilife.com/guid/13851-2011-09#comment-249350 @Paul: IMHO a better thing would be to just transfer your balance out to a lower rate card or pay the balance if any, than closing the card. This way you would actually end up improving your credit score. @Paul: IMHO a better thing would be to just transfer your balance out to a lower rate card or pay the balance if any, than closing the card. This way you would actually end up improving your credit score.

]]> By: Paul http://www.thedigeratilife.com/fico-credit-score-information/#comment-249175 Paul Mon, 15 Jun 2009 14:49:55 +0000 http://www.thedigeratilife.com/guid/13851-2011-09#comment-249175 One rude awakening I had last month was a drop in score due to a cancelled credit card. American Express decided to double my interest rate, so I closed the account. I had a very large credit line and though my balance was low, closing the account decreased my credit score, though my total debt has dropped substantially! Capital One has notified me that they plan on doubling my rates by August, so I am closing that large credit line as well. I'd rather take the hit on my credit score than be blackmailed by these credit card companies. One rude awakening I had last month was a drop in score due to a cancelled credit card. American Express decided to double my interest rate, so I closed the account. I had a very large credit line and though my balance was low, closing the account decreased my credit score, though my total debt has dropped substantially!
Capital One has notified me that they plan on doubling my rates by August, so I am closing that large credit line as well.
I’d rather take the hit on my credit score than be blackmailed by these credit card companies.

]]> By: chris leow http://www.thedigeratilife.com/fico-credit-score-information/#comment-249121 chris leow Mon, 15 Jun 2009 08:04:01 +0000 http://www.thedigeratilife.com/guid/13851-2011-09#comment-249121 Who cares about FICO scores, the economy in Malaysia is so good that if we need money we just job hop to a higher salary, the boom in Malaysia is thanks to China ! We in Malaysia are enjoying high growth and high inflation, I do not understand all this complaining. We have to thank China for our strong growth as our economy was going down until March 2009 and China rescued us by buying our commodities. Currently there is strong job market, 2 jobs for every worker, we have to import in foreign labour to do jobs that locals do not want to do ! We have high inflation, an example is a local dessert called "cendol" selling for $1.20 in local currency a month ago, is now selling for $ 1.80 in local currency. Thats a hefty increase, so don't complain, enjoy the boom ! Who cares about FICO scores, the economy in Malaysia is so good that if we need money we just job hop to a higher salary, the boom in Malaysia is thanks to China ! We in Malaysia are enjoying high growth and high inflation, I do not understand all this complaining. We have to thank China for our strong growth as our economy was going down until March 2009 and China rescued us by buying our commodities. Currently there is strong job market, 2 jobs for every worker, we have to import in foreign labour to do jobs that locals do not want to do ! We have high inflation, an example is a local dessert called “cendol” selling for $1.20 in local currency a month ago, is now selling for $ 1.80 in local currency. Thats a hefty increase, so don’t complain, enjoy the boom !

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