Author: elegant

The major credit bureaus, Equifax, Experian and TransUnion, are known to use your payment history (35%), amount owed (30%), length of credit history (15%), new credit or searches for credit (10%) and types of credit used (10%) to come up with a credit score known as FICO (Fair Isaac Corporation) score for you.  The Bloomberg…

Before you file for a bankruptcy, default on a home mortgage loan, or even letting an unpaid bill to go a collection, consider its impact on your credit, especially your FICO score.  FICO (Fair Isaac Corporation) is a commonly used measure of your credit worthiness maintained by the three major credit bureaus and used by…

The use of credit and debit cards to pay for retail transactions accounts for about 30 percent each.  Cash payments make up for about 29 percent in the U.S. and is in decline for last ten years when it accounted for more than 36 percent of retail transactions.  Visa and Master Card, world’s largest credit…

Hackers are busy at work trying to get into your personal financial accounts so that they can make a quick buck.  According to the Federal Trade Commission, credit card fraud and theft increased by about 21 percent in 2008 and holding steady ever since.  In 2006, fraud accounted for seven cents of each 100 dollar…

When applying for a credit card or using an existing card to pay for a purchase, be aware of fees and interest associated with the card.  Here are few to watch for. Annual fee:  Most cards charge an annual fee, but there are cards that don’t charge an annual fee.  Some are tied to your…