Get Your Free Credit Score!

Today I was reminded again about that little three digit number so many people like to talk about—their credit score. Everybody seems to be concerned about their number, right.

What is Your Credit Score?

There is so much publicity about your credit score (how to find out what it is, how to protect it, how to improve it, etc.) that it is doubtful very many people do not know what it is, but just in case here is the plain English definition.

Your credit score is a three digit number compiled by the credit agencies that rank your credit worthiness in their eyes based on your credit history which is used by financial institutions and others to help them decide whether to give you a loan, how much to charge for your auto insurance, and whether to give you a job (among other things).

Often you hear your credit score referred to as your FICO score. Technically this refers to the score provided by the Fair Isaac Corporation (now officially renamed FICO) which is the most widely used by financial institutions. A number of other organizations provide credit scores as well, but they are not so well known.

Can You Get Your Credit Score for Free?

Your credit report is more important in many ways than your credit score and you can get it for free. Once a year each of the three major credit reporting agencies are required by law to give you a free copy. You can ask for yours at which is operated jointly by the three major reporting companies (Experian, TransUnion, and Equifax).

But what about your credit score? Is there any way to get it for free?


Is a Second Housing Crisis Imminent?

Are we past the home mortgage crisis? Or is there a possibility that there just may be a round two? If there is another round of mortgage defaults, how can we avoid getting caught up in it?

One Woman's Mortgage Problem

This morning I read about a woman who had just had her hours at work cut back. She was concerned about what to do because of the crimp it put on her budget.

In particular, her new hours did not provide enough income, as she saw it, to be able to keep up with her house payments….