Seven Deadly Credit Score Sins
John Ulzheimer, president of Consumer Education at SmartCredit.com, the credit blogger for Mint.com, is an expert on credit reporting, credit scoring and identity theft. Formerly with FICO, Equifax and Credit.com, Elzheimer is a rare editorial source — a recognized credit expert who actually comes from the credit industry. He often references in his writings the “Seven FICO Deadlies,” credit score deflating actions, but only recently identified them in one consolidated list.
Your credit score, from about 350 (poor) to 800 (excellent) is a numerical rendition of your credit report. The higher your score, the more likely you’ll get approved for credit and the more likely you’ll get the best rate and terms. Negative actions posted to your credit report, take a bite out of your credit score….read more