Congratulations to the New York Giants on winning Super Bowl XLVI!
Eli Manning came up big again in the 4th quarter and led his team to victory. Of course, one player – no matter how great – can win a game singlehandedly; it takes a team effort to put points on the scoreboard.
Much like the game of football, your credit scores involve several factors that determine whether lenders, insurers and employers will consider your credit profile a winner. Your credit scores represent how financially responsible you are. They may not help you win a Super Bowl, but they can help you score a new job, a nice car or the home of your dreams. If you’re not familiar with how credit scores are calculated, here’s a look at the “roster” of factors credit bureaus use to decide whether you’re an MVP or a benchwarmer.
- Payment history: 35 percent – To determine if a loan applicant won’t drop the ball when it comes to paying off a new loan, lenders tend to require a documented history of paying bills on time.
- Amount of money owed: 30 percent – Lenders and credit bureaus look at the amount of debt owed relative to available credit when determining credit scores. This factor is called the debt-to-credit ratio..
- Length of credit history: 15 percent – An established credit history is important. Lenders use it to evaluate whether an applicant is an experienced credit veteran or a risky rookie.
- New lines of credit: 10 percent – Lenders and credit bureaus may view someone who opens several lines of credit in a short amount of time as a person desperate for money.
- Types of credit used: 10 percent – Bureaus often look at the different types of credit a person currently uses and has used in the past. Having only one type of credit over the long haul may deter lenders who want to see a more diversified credit history.
If you’re ready to see how your scores match up against the competition, sign up for the Power of 3 from FreeScore. You’ll receive access to your credit scores and reports. FreeScore will also provide a strong defense against identity theft with 24/7 credit monitoring and automatic alerts that notify you when a change is detected on one of your accounts. With help from FreeScore, you’ll be able to claim victory in the Big Game of managing and protecting your credit.
When you’re just starting to build up credit, you may feel stuck with nowhere to turn. After all, you need a credit line to build credit, but many places will turn you down because of your 
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In many divorces, assets are split down the middle. After that, each person moves on and begins anew. Unfortunately, some couples are brought back together by unforeseen circumstances. Rather than a chance encounter at the grocery store, sometimes all it takes is a bold move by a credit card company to get people talking again.
If you’re one of the many people struggling to rebuild your credit, chances are good that credit card offers have stopped flooding the mailbox. Lenders continue to be weary of subprime borrowers, having suffered big losses during the recent financial crisis. However, debt-collectors are appealing to “riskier” borrowers by offering them credit cards with a catch.
Having your credit card information stolen is bad enough. Sometimes the theft goes unnoticed until your credit card is denied at the register or you receive an eye-popping statement in the mail. However, when the thief adds some unintentional irony to the situation, the crime becomes especially puzzling.
The holidays often bring out the best in people. Every year, news outlets report about secret Santas and other mystery benefactors who help spread joy. Unfortunately, this time of year also brings out several Grinches set on ruining people’s credit scores.
