CREDIT REPORT 101
In this day and time managing your credit report can save you a lot of
money in higher interest rates and fees. Your FICO score is the main
way lenders determine your credit worthiness so knowing about your
credit report and scoring can be very helpful. The following
information should help you understand some of the elements that go
into determining your credit score.
So what is a FICO anyway? A FICO score is a credit score developed by
Fair Isaac & Co. Credit scoring is a method of determining the
likelihood that credit users will pay their bills. Fair, Isaac began
its pioneering work with credit scoring in the late 1950s and, since
then, scoring has become widely accepted by lenders as a reliable
means of credit evaluation. A credit score attempts to condense a
borrowers credit history into a single number. Fair, Isaac & Co. and
the credit bureaus do not reveal how these scores are computed however
The Federal Trade Commission has ruled this to be acceptable. More
Info....
IDENTITY THEFT
According to the FTC, in the last five years, 27.3 million people have
been victims of identity theft.
The number in 2003 alone is over 10
million. So what if it happens to you? Identity Shield can help
mitigate your exposure.
