How scores are calculated
Lenders create models by reviewing a set of consumers, examining their credit profiles and identifying common variables. Using this information, they build statistical models that assign weights to each variable. Lenders then combine these weights to create a credit score.
Thousands of credit-scoring models are in use in the credit industry. Different models will consider different variables for different types of credit. For example, an auto loan would more closely consider payment statistics related to auto loans.
Generally, positive credit characteristics will make your score higher and help you to qualify for loans and better interest rates. Negative characteristics will make your score lower and interfere with your ability to get the best loans/rates.
Continue Reading... How are Credit Scores calculated?
January 2008
November 2007
October 2007
November 2006
October 2006
April 2005
February 2005
Read More... News and Advice
Innovis: The "New" Credit Reporting Agency by arin721
Sample Letters - Quick Links by arin721
Resources for Identity Theft - Quick Links by arin721
Resources for Credit Repair and Credit Scores - Quick Links by arin721
Credit Scores - Quick Links by arin721
You know you’re in trouble when you turn on the cold water faucet and what comes out is hot water for the first three or four minutes. Its supposed to be 102F here today. That’s pretty hot. And I have two cats. Complete with fur. How do they stay cool in the summer? We always hear how someone left a dog in a car and they had a heat stroke but what about our cats?
What do beans and left over salad have in common? Both can be tossed into a burrito for a cheap, filling meal.
Plasma donation. I does it.
Saving money as a single can be difficult. You’d think it wouldn’t be, since there is only one of you, but cooking for one can be more expensive and time intensive. And when you’re busy and tired you don’t want to spare that extra time. You end up living on prepared foods and take out. After all, who wants to cook for one? So how to save money in the biggest money waster: food?
There’s snow on the mountain tops where I live already. Its getting too cold to wear sandals and I need a sweater. The dark will soon do me in. Its winter and these are all normal things, and for me and many people like me, so is the depression that will set in soon. The winter blues.
Read More...
