Five Ways To Improve Your FICO Credit Score, Get Lower California Mortgage Rate.
Over 30 million people in the U.S.A. have credit scores low enough (less than 620) to make shopping for low mortgage loan rates very difficult at best.
The major credit reporting agencies use a slightly different system to arrive at a credit score. The best known is called the FICO score, developed by Fair Isaac and Company (FICO).
A FICO credit score can range from 300 to 800. Most borrowers fall into the 600-800 credit score range.
A high FICO score is your reward for paying bills on time. This is one of the most important factors that determine your California home mortgage loan rate
If you’ve had a few credit “bumps in the road” recently, and you’re asking yourself, “How can I improve my FICO credit score”? Here are 5 ways to boost your FICO credit score.
1. Paying your bills on time is the first step in improving your FICO credit score. Late payments can have a big negative impact on your FICO score, 30 days or more late on one account can lower your FICO score 50 points or more.
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