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What You Don’t Know About FICO 9 (But Really Should)

In early August 2014 FICO, the company behind the FICO credit scoring system, announced their latest credit bureau risk score, FICO 9. The blogosphere lit up with coverage of the new scoring system but unfortunately most of the blog coverage of FICO 9 was simply regurgitation of FICO’s press release. There were several key points… Read More

How Do I Get Collections Removed From My Credit Reports?

When you default on a credit obligation the original creditor will try to collect it from you directly. After enough time has passed, they’ll grow tired and either consign the debt to a collection agency, or sell it to a debt buyer.  At this point you’ll likely start getting letters and phone calls from collection… Read More

Why Do Southerners Have the Lowest Average Credit Scores?

Let me start by saying that I’m not thrilled to be writing this story.  As a resident of the state of Georgia since 1979, it pains me to have to be the one who points this out: people who live in southern cities have lower average credit scores than those who do not. Just how… Read More

New FICO Score Coming Soon to a Credit Bureau Near You

Today Fair Isaac, the company behind the FICO credit scoring system, announced the latest generation of their credit scoring software. The new suite of FICO scores, called FICO 9, is a standard redevelopment of their commonly used credit scoring models. FICO 9 models will become commercially available this fall and will assess collection accounts differently… Read More

Ask the Expert: Why Do I Have So Many Different Credit Scores?

After getting inaccurate and conflicting information a reader wrote in looking for clarification and an accurate answer about why we have so many different credit scores. John Ulzheimer, credit expert for Credit Sesame, explains. “John, I’m confused about why I seem to be getting different credit scores from different sources.  I was able to get… Read More

FAKO Scores vs. FICO Scores, What’s the Difference?

If you follow the consumer credit scoring market then you’re probably familiar with the phrase “FAKO” score. A FAKO score isn’t an actual credit score.  Instead it’s a derogatory phrase given to any credit score that isn’t built by Fair Isaac, or a “FICO” score. Any non-FICO score was deemed as being fake because it… Read More

Ask the Expert: Why Do Insurance Companies Care About Your Credit Scores?

Our latest question comes from a reader who wants to know why insurance companies care about credit scores.  John Ulzheimer, Credit Expert for Credit Sesame, explains. “John, I am shopping around for a new insurance company for my auto coverage. I’ve hit all the big companies and almost all of them let it be known… Read More