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... 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... 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... 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... 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... Read Full Story

If you haven’t checked your credit report/score for a long time, now is a good time to check as myFICO is offering 20% promotional code on it’s myFICO Standard product.   FICO Standard  lets you choose individual FICO ®  credit scores and credit reports from TransUnion and Equifax.  You get instant online access to your credit report and score.   FICO Standard has the following features: Get your FICO® scores from your choice of Equifax or TransUnion. Each comes with a full... Read Full Story

Credit Report Ultimate Resources for Credit Help Is there a credit card company that lets you view your credit score free? I had a Washington Mutual credit card and the page actually let me view my score for free any time I wanted before Wamu went bankrupt. Do any other credit card companies offer this service? It was really useful Responses: I am currently looking for mortgage refinance and before to begin my search I?ve singed with one of free... Read Full Story

  Body   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... Read Full Story

by Wendy Polisi The most common credit score used by mortgage lenders in the United States is the FICO score. This score helps lenders determine a loan applicants creditworthiness and has a direct bearing on the terms that the lender is likely to offer any given individual. Generally speaking, the higher the FICO score, the lower the risk. This means that people with higher scores usually receive more favorable loan terms. How a FICO score is calculated is a proprietary industry secret... Read Full Story

Earlier today the Wall Street Journal posted a new story on Fair Isaac, or as they refer to the company, the “keepers of your credit history.” For those of you who may not know, Fair Isaac maintains the FICO scores most lenders use to determine your eligibility for a loan and potential interest rates. The lawsuit surrounds the difference between what the company calls bono fide FICO scores, and non-FICO scores, sometimes called “FAKO” scores. Check out the following article on the... Read Full Story