If you borrow money — doesn’t everyone? — You know your FICO score is important. The Fair Isaac folks, the ones that deliver FICO scores to lenders, insurance companies, employers, etc., recently announced they are changing the way they calculate the scores.
If you are thinking of looking into a mortgage loan, car loan, any type of credit, you will want to keep up and know the score — Check out this video from Money Talks News.
It usually takes, at least, a month or two for changes to appear in your credit score — planning now may make a difference.
While it may not be easy to change your scores, it is easy to get a free once-a-year look at your history, go to Annual Credit Report and get your copy.
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This is really helpful information — thanks for the clear and simple explanation. Sandy DeAngelis
Thanks for your clear comments regarding FICO scores. It’s good information to have out there in the public.