http://adawnjournal.com/2008/10/19/what-is-a-fico-score/ A blog on Personal Finance, Investing, Entrepreneurship, and More Wed, 01 Feb 2012 22:37:32 +0000 hourly 1 http://wordpress.org/?v=3.1 http://adawnjournal.com/2008/10/19/what-is-a-fico-score/comment-page-1/#comment-1324 Briar Tue, 04 Aug 2009 17:24:59 +0000 http://adawnjournal.com/2008/10/19/what-is-a-fico-score/#comment-1324 I think knowing your FICO score is a great tool for working towards improving your financial health. Sure, if you are fully established, and know you ahve a great score, maybe have a double income, and have never missed a payment on anything, then fine, don't waste the $25. However, if not.. read on.. I pulled my two credit reports today, and I can see exactly where, when and how to move into a more positive state. My score is over 700 now, but even when the few "derogotory" comments are removed, I will still be in position where, if i'm not careful, I could impact my credit poorly (simply to switching credit cards for a lower interest rate, signing back a "preapproved" credit card, or choosing to "not pay for 15 months" on some furniture... all these things affect your credit, and in most cases, not in a positive way. I can see how having a clear undersanding will govern and impact the way that I think of credit in the coming years, and I wish that I had been this proactive earlier in my financial history, as I could not have a much higher score (not because of poor payments, only because I've taken advantage of seemingly harmless credit options, which have reflected not-so-positively on my scores). I think knowing your FICO score is a great tool for working towards improving your financial health. Sure, if you are fully established, and know you ahve a great score, maybe have a double income, and have never missed a payment on anything, then fine, don’t waste the $25. However, if not.. read on.. I pulled my two credit reports today, and I can see exactly where, when and how to move into a more positive state. My score is over 700 now, but even when the few “derogotory” comments are removed, I will still be in position where, if i’m not careful, I could impact my credit poorly (simply to switching credit cards for a lower interest rate, signing back a “preapproved” credit card, or choosing to “not pay for 15 months” on some furniture… all these things affect your credit, and in most cases, not in a positive way. I can see how having a clear undersanding will govern and impact the way that I think of credit in the coming years, and I wish that I had been this proactive earlier in my financial history, as I could not have a much higher score (not because of poor payments, only because I’ve taken advantage of seemingly harmless credit options, which have reflected not-so-positively on my scores).

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]]> http://adawnjournal.com/2008/10/19/what-is-a-fico-score/comment-page-1/#comment-847 How Credit Cards Work | Canada Personal Finance Website Sun, 11 Jan 2009 19:10:39 +0000 http://adawnjournal.com/2008/10/19/what-is-a-fico-score/#comment-847 [...] What Is a FICO score? [...] [...] What Is a FICO score? [...]

]]> http://adawnjournal.com/2008/10/19/what-is-a-fico-score/comment-page-1/#comment-801 How Credit Card Calculates Interest | Canada Personal Finance Website Mon, 22 Dec 2008 00:43:04 +0000 http://adawnjournal.com/2008/10/19/what-is-a-fico-score/#comment-801 [...] What Is a FICO score? [...] [...] What Is a FICO score? [...]

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