Credit Tips

New credit report practices have again changed the rules regarding authorized users on credit card accounts. The history of the authorized user Here at Auto Credit Express we’ve been a bit lax about informing our customers of the changes that have occurred over the past year regarding authorized users on credit card accounts. And while FICO won’t divulge their new formula, it’s fair to say that it will affect a fair number of consumers and we thought you might want to know about some of these changes. An authorized user is a person assigned to a credit card account that is not the account ... Read Full Story

Not all Scores are Equal There are many credit scores available, but the only one that matters is your FICO score. FICO, by the way, is an acronym for Fair Isaac and Company, the developer of the score. This is the score that virtually all lenders use. Other scores attempt to approximate the FICO score, but frequently vary by a significant margin. One Score with Three Names The FICO score may be referred to by three different names. This is because the three bureaus have branded it for their own marketing. Equifax calls it a BEACON score, TransUnion calls it an EMPIRICA score, and ... Read Full Story

Those with bad credit no longer have to forego loans. These days when bad credit is more the norm then a great credit rating banks and lenders are now offering a number of ways to obtain loans even if your credit scores are low. One way to get a credit loan even if your scores are low is a secured loan. Secured loans are loans that require the person requesting the loan to make a deposit into a secured account in order to have collateral for the money loaned. Usually credit cards become available for those with lower credit ratings with this method. It ... Read Full Story

All consumers but especially those with bad credit probably wonder just how FICO determines their credit score . We know what you’re going through At Auto Credit Express , we’ve been helping bad credit car buyers for nearly twenty years reestablish their car credit by financing a new or recent pre-owned vehicle with a bad credit car loan. During that time, we’ve tried to educate consumers on high to take advantage of the process – since these very same people begin with a distinct disadvantage due to the high interest rates charged by these loans. We also stress the need to check your credit ... Read Full Story

Consumers who find themselves with a FICO score below 640 can make the most of a bad credit car loan by simply planning ahead. We know what you’re going through At Auto Credit Express , we’ve been helping bad credit car buyers, for nearly twenty years, reestablish their car credit by financing a new or recent pre-owned vehicle with a bad credit car loan. During that time, we’ve tried to educate consumers on high to take advantage of the process – since these very same people begin with a distinct disadvantage due to the high interest rates charged by these loans. Beginning the process ... Read Full Story