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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

Does Your Age Influence Your Credit Scores?

When we think about credit scores and credit scoring we tend to gravitate toward the areas of the scoring system over which we have control. We can choose to make our payments on time. We can choose to not have a lot of credit card debt. And we can choose to apply for credit only… Read More

Upgrading From a Prepaid Debit Card to a Credit Card

The Suze Orman prepaid debit card was discontinued last week, effective July 1, 2014. Consumers that fell for the sales’ pitch and bought one of the cards are likely now in need of replacement plastic. This is a great time for you to consider re-joining the mainstream world of credit cards and begin enjoying the… Read More

What’s the Best Way to Get Out of Credit Card Debt?

By now it should go without saying that being in credit card debt is like plugging a siphon into your bank account. In fact, credit card debt is likely the most expensive debt you’ll ever carry with an industry average 15 percent interest rate. So, what is the best way to get out of credit… Read More

4 Ways to Build Credit from Scratch

There are three types of consumers as it pertains to credit reports: those who want to build a credit report, those who want to rebuild a credit report and those who want to maintain an already impressive credit report. Building credit is not the same as rebuilding or maintaining credit, and the strategies for each… Read More