What’s a FICO Score?

Credit score is more commonly known as the FICO Score. The FICO Score is the standard credit score in the US. Your FICO Score considers both positive and negative information in your credit report. Late payments will lower your FICO Score, but establishing or re-establishing a good track record of making payments on time will raise your score.

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I have bad credit, what do I do?

You are not alone; millions of people have trouble with their credit. Before you can determine exactly how to improve your credit, you need to find out why your credit is poor in the first place. We recommend that you obtain copies of your credit reports and scores from all three of the credit reporting agencies to find out exactly what is hurting your credit.

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Do I need to have a credit card to build my credit score as a student?

You don’t necessarily need a credit card to build your credit score, but it certainly can help—if you pay your bill off in full each and every month. A solid banking history and paying all of your monthly bills on time will build your credit. You could also become an authorized user on someone else’s credit card (your parents’, for example) and improve your credit that way.

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What is the Average Credit Score?

Credit scores range from 300 to 850. Generally, a 680 credit score or above is considered a good credit score, while any score above 750 is considered excellent. But what is generally considered an average credit score? Answering this question may be difficult. Every expert, credit bureau, and loan officer has a different opinion as to where the threshold between good credit and poor credit is.

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What is a Credit Score?

A credit score is a number representing the “creditworthiness” of a person or the likelihood that he/she/they will pay their debt. Credit scores are linked to your social security number.

A credit score is a number that usually ranges anywhere from 300–850, determined by the three main credit reporting agencies: TransUnion, Experian, and Equifax. It basically represents the risk you present to a creditor as far as being able to pay back loans and credit card balances.

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I’m thinking of opening a long-term savings account, I want to make sure I can have the best interest possible, what do you suggest?

The best way is to start exploring is through “America’s Best Rates” on Moneyrate.com. This website will give you a list of banks that offer consistent high yields. Then go to Bankrate.com to see if any of those banks are around your area. This website also allow you to compare all the banks within your city limits along with the interest rate they offer.

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