How FICO Formulates Your Credit Rating

Posts Tagged ‘credit scores’

How FICO Formulates Your Credit Rating

By Author on Sunday, October 9th, 2011 | No Comments

The various credit bureaus can use different methods at arriving at your score and this is the reason why you can sometimes have more luck getting finance from one lending establishment than another. The finance industry standard is a system called FICO. FICO stands for Fair Isaac Company Company. FICO is software for calculating credit [...]

How can I cancel credit cards I have without getting dinged on my FICO score?

By Author on Thursday, June 23rd, 2011 | 5 Comments

I have several credit cards that have annual membership fees required. But I do not use them and have no plans on using them in the future. I’ve been told that if I cancel these cards that my credit scores will suffer because of the cancellations. Is there a way to cancel these cards without [...]

What happens to credit score if you close a store credit card?

By Author on Saturday, November 27th, 2010 | 14 Comments

I have a few store credit cards (Macy’s, Banana Republic, etc) in addition to a major credit card. I want to cancel some of the store credit card, but I don’t know how that effects my credit rating. I think closing credit cards in general lowers credit scores, but what about those store cards? Related [...]

How long will it take for money to be put back into your mastercard account if your online order is aborted?

By Author on Monday, November 8th, 2010 | 2 Comments

How long will take for money to be put back into your mastercard account if your online order is aborted by a merchant (retailer) ? Will your money be automatically refunded and normally how long will that take? Related Credit Card Sites Banking Account For People With Bad Credit Scores | Webmark Solutions Easy free [...]

My credit card balance is over 50%. How long will it take my credit score to go back up?

By Author on Monday, October 25th, 2010 | No Comments

Hi. I recently just got my first credit card ever and used it to make a 00 purchase. The credit limit is 00, so obviously I’m over 50% of the balance, and I just learned that’s bad for credit scores. I expect to be able to pay off the purchase in the next two or [...]

No Annual Fee Credit Cards

Posts Tagged ‘credit scores’