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A long time ago I found out the hard way that my FICO Credit Score could be the seed of financial despair. It's the one credit number that lenders judge us by so I thought I would show you how that number is arrived at. This is not common knowledge so read on...
Today, millions are facing tough finances, the reality of tougher credit based on FICO credit scoring by the major credit rating bureaus. Well, there is hope if you find yourself with a less than perfect FICO credit score and credit rating. There are some smart steps you can use to turn your credit around.
Some individuals believe that it is best to have absolutely no debt. In some cases this is true, but if you are trying to get a loan, nothing could be further from the truth. In the eyes of a lender, an individual with no credit is almost as risky as an individual with bad credit. To the bank, you are basically a walking talking question mark, which makes you a potential liability and the number one thing a Bank is trying to avoid. Lenders are looking for a positive history of how you handle debt.