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Lifestyle Choices That Effect Your Credit

9 CREDIT SCORES YOU NEVER KNEW EXISTED You already know about your credit risk score, more commonly known as your FICO Credit Score. That is the one we normally think of when we talk about credit scoring but are your aware that you are being analyzed based on other lifestyle choices and these Nine other types of Consumer Scores that are relatively unknown — that affect you tremendously: Revenue Score - This score measures how much money you are likely to make the creditor. This is measured by rank-ordering your revolving credit accounts by how much of a revenue source you might be in the future. Bankruptcy Score - Predicts if you are likely to declare bankruptcy. It looks at data such as how many high-balance and delinquent accounts you have. Creditors know that anyone who has a high number of late payments or maxed-out accounts is headed for trouble. Response Score - You know all those “pre-approved” offers you get in the mail? Someone is tallying the number you throw away. The more offers you accept, the higher your response score. Attrition Score - This score addresses the likelihood that you may leave one lender for another. If your score is high enough, you will get convenience checks in the mail; or even a personal phone call from the creditor, offering you incentives to stay with them. Behavior Score - This very specific score measures your overall performance with one creditor. Information includes how long you have had [...]

By |2021-02-28T22:21:27+00:00February 22nd, 2021|Education|0 Comments

What steps to take when buying a home

Answer: Well, that depends on a number of factors, including the cost of the house and the type of mortgage you get. In general, you need to come up with enough money to cover three costs: earnest money- the deposit you make on the home when you submit your offer, to prove to the seller that you are serious about wanting to buy the house; the down payment, a percentage of the cost of the home that you must pay when you go to settlement; and closing costs, the costs associated with processing the paperwork to buy a house.

By |2020-07-27T16:07:51+00:00April 1st, 2020|Education|0 Comments

Credit Resolutions from True Credit

Trying to improve your finances? Not sure where to start? Whether your goals involve credit clean-up, refinancing, or saving, you can make this year a personal best for your credit. Read on for TrueCredit’s top credit targets:

By |2020-06-16T20:40:28+00:00October 18th, 2019|Education|0 Comments

Understanding Your Credit FICO Formula

Understanding Your Credit FICO Formula. Typically most consumers have a misunderstanding of the credit score. In my opinion, it's the Credit Bureaus for not educating consumers on how to understand the process and the score point systems.

By |2020-07-27T16:06:24+00:00September 5th, 2019|Education|0 Comments

Handling Foreclosures

Many people feel like they’ve been hit in the face when credit problems strike them. On a much larger scale, getting hit in the face is similar to some degree as getting your house foreclosed on or any credit problem.

By |2020-06-16T19:12:32+00:00May 20th, 2017|Education|0 Comments

Ways to Save Money at the Gas Pump

With the rising cost of gas prices…and no end in sight…everyone wants to save as much money at the gas pump as they possibly can. You may not be able to control the price of gas but you can change certain habits and follow some basic guidelines to help you save as much money as possible.

By |2020-06-29T17:12:28+00:00May 18th, 2017|Education|0 Comments
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