Your credit report and credit score are the determinant factors in getting approved for a credit card, therefore it』s quite necessary for cardholders to pay close attention to these items. How can you access them for free? The first thing you need to know is, there are three official credit bureaus in the US: Experian, Equifax and TransUnion. Once a bank receives an…
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Recently I conduct a small test about credit scores focusing on the two following points: It is often said that credit scores will be reduced if your many credit cards all have statement balance. Is it true? If the answer is yes, how much influence is it? How much influence should High Utilization Ratio of one single card make? The…
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Will the Charge Card be calculated into Balance? How does Charge Card calculate the credit limit? Will Charge Card affect the Credit Score？ This is a very very common issue, but different people hold different ideas, it』s hard to reach a consensus. In this post, we will have a look on that. We all know that Amex issued some good Charge…
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Because a good habit to manage a credit card is so important to improve credit score that we decide to write another post nagging the correct way to increase credit score though you』ve known the general knowledge of credit cards! According to what decides FICO score, we are going to analyze the factors on by one and tell you how…
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In the previous post we showed the general concepts of credit score and credit history and specifically mentioned that FICO credit score was most authentic important to you. This post is going to figure out how is FICO credit score calculated. Overview The most widely used FICO model is FICO 8 in which the percentages of the credit score are listed blow:…
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It』s a commonplace but a unavoidable topic. I tried to help you digest the most important concepts through this post. The specific questions about credit score calculation will be answered at the next article! Briefly, it is: Credit Score = Credit Report + Score Calculation Model Credit report is, haha, a snitch recorded by the banker on your credit history….
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1. I have a SSN for one year. Does that mean one-year credit history? No. The length of your credit history depends on your payment and statement, and it is unrelated with your SSN. In other words, your credit will be recorded with or without a SSN. However, your credit record will be linked up with your SSN for convenient…
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It can be seen very often in various situations that many people wonder why their credit scores drop a lot in a certain month and what to do. It』s very common and everyone just doesn』t want to confront such situations. After all, there will be no chance for you to apply for a good credit card in several years if…
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Credit Report and Credit Score (mostly by FICO) are key factors in approval of credit cards. For credit cards owners, it is very important to know about their Credit Reports and FICO Credit Scores. We have talked about several ways to get free Credit Report and Credit Score in How to Get Free Credit Reports And Scores. The next question…
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Credit Limit Increase (CLI) can make normal spending more smoothly, and by indirectly decreasing the utilization, you might improve your credit score because of this. Some banks, however, pull the credit report from one of the credit bureaus when you request a CLI, it’s called Hard Pull (HP), which is somewhat harmful to your credit history. So it』s necessary to figure out which…
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