iGenty

Posts Tagged ‘Improving Your Credit’

Bill Fair and Eric Isaac. Have you heard of them before? They are the F (Fair) and I (Isaac) of FICO. Founded in 1956 these two gentlemen created a particular system of measuring risk that is the most widely used score for industry professionals. Everyone is entitled to know their FICO credit score and there are scores (pun intended) of websites available to help you get yours.

Having a good credit score, which is now considered to be in the ballpark of at least 700 points, is the determining factor that decides how much interest you are going to pay on major purchases such as a mortgage, car loans, equity lines, credit cards, and other sources of credit and loan. This three digit number will also decide how much of a credit limit you have been awarded.