Credit Check Facts

what is term “mid fico score”?

Credit Facts Admin — Thu, 29 Jul 2010 08:08:18 +0000

Question by mr. a a.: what is term “mid fico score”?
this term is used in subprime lending

Best answer:

Answer by Dusti
The middle score is used in mortgages lending by taking all three credit bureaus scores and selecting the one in the middle. Example: If your Experian score is 680, TransUnion 712 and Equifax is 690, your middle score will be 690 by taking the lowest score and highest score and taking the one in the middle.

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does someone speak italian?

Credit Facts Admin — Wed, 28 Jul 2010 09:02:11 +0000

Question by Bridget B: does someone speak italian?
what does “fico” mean?

Best answer:

Answer by carolynxrock
fig, i think.
like the fruit thing.

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How does the interest work on a “personal line of credit?”?

Credit Facts Admin — Tue, 27 Jul 2010 10:19:52 +0000

Question by Russell: How does the interest work on a “personal line of credit?”?
If you are approved for a “personal line of credit” from a bank or somewhere else, how does the interest rate work? Is the rate fixed or can it go up and down?

Best answer:

Answer by MVD34
Most of the time it is variable — it goes up and down: monthly, quarterly, yearly…

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what is term “mid fico score”?

Credit Facts Admin — Mon, 26 Jul 2010 11:01:05 +0000

Question by : what is term “mid fico score”?
this term is used in subprime lending

Best answer:

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First Credit Card?

Credit Facts Admin — Sat, 24 Jul 2010 13:01:13 +0000

Question by AviTech: First Credit Card?
I have never had a Credit Card before. My credit score is 0. Who would offer me a credit card and at what rate? What would be the best choice of card? I am currently employed in a part time job and I’m going to college full time. I just need to card to help me build some credit score.

Also in the States we use “FICO” I believe that’s what it’s called. If someone moved to say Canada or the UK does their credit score follow them? Does every country use the same system? How exactly does it work?

Best answer:

Answer by john t
open a checking account wait 3 months and then ask your bank for one use it regulary and pay half the amount you spend all the time it will increase your credit rating

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Credit Agencies and FICO Score?

Credit Facts Admin — Fri, 23 Jul 2010 14:01:50 +0000

Question by Dave K: Credit Agencies and FICO Score?
Someone clear this up for me. I know there are 3 credit reporting agencies (Experian, Transunion, Equifax) and all 3 agencies have their own credit scores. So when one refers to the “FICO” score, which agency’s score is it referring to?

Best answer:

Answer by Reggie
the only bureau that actually works with FICO is equifax. The other two use some other two crappy scoring systems. The ranges are so much different. I go by my FICO because the majority of companies that check your score (not just credit report) will prolly check your FICO score.

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Q&A: What is the best way for a person to “repair” their credit?

Credit Facts Admin — Thu, 22 Jul 2010 15:02:10 +0000

Question by troubleshy57: What is the best way for a person to “repair” their credit?
I’m not sure how to go about this especially if some of the debts is more than 5 years old.

Best answer:

Answer by KNN
Don’t pay anyone to repair your credit. Its simple and you can do it yourself. these credit repair companies will charge you lots of money. What you have to do is contact all these companies you owe money to. If you don’t know, get a free credit report from one of the 3 bureaus. Contact them and pay them, you can also offer settlement amounts, but keep in mind they might 1099 you and it will show on your credit report that its a settled account. Once you get all the matters paid, continue with paying your accounts ON TIME. After as much as 6-8 months you will see an increase in your credit score. And don’t apply for any new credit for awhile.

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What can you tell me about companies that offer “Credit Repair”?

Credit Facts Admin — Wed, 21 Jul 2010 16:14:16 +0000

Question by pcmkrfn: What can you tell me about companies that offer “Credit Repair”?
Have you used a service like this? Pros, cons?

Best answer:

Answer by P J
They can do nothing that you can not do yourself.

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Personal credit score is to “FICO” as Business credit score is to What?

Credit Facts Admin — Tue, 20 Jul 2010 16:58:12 +0000

Question by Andrew D: Personal credit score is to “FICO” as Business credit score is to What?
I have heard it before and I can’t remember what it’s called. It’s on the tip of my tongue…

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Q&A: How can I pursue action against someone who stole money from me in exchange for “credit repair”?

Credit Facts Admin — Tue, 20 Jul 2010 04:12:30 +0000

Question by Aline B: How can I pursue action against someone who stole money from me in exchange for “credit repair”?
Nearly a year ago I paid someone to repair my credit. She is licensed. I have a written contract. She has done nothing to help my credit and will not respond to email or telephone inquiries. How can I report her to state licensing agencies (Texas) and the credit bureaus?

Best answer:

Answer by My Take on It
This is the problem with those who claim (outrageously) that they can *repair your credit*. They won’t be able to remove anything derogatory that is there legally. It may come off for a month, while they investigate..but will go back on just as quick and stay there for the duration of the SOL. If you earned that bad mark, it is meant to be there for other creditors to see, so they can make an educated guess on whether you are a good risk for a loan.

If there is some sort of licensing board that oversees credit repair people, I guess you could complain to them. You could lodge a complaint with the BBB against her. Even if you tried to sue her in small claims, I highly doubt you would prevail.

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