Posts Tagged ‘FICO’

FICO Part II - When To Ignore It, And Why Its Awesome

FICO Part II – When To Ignore It, And Why Its Awesome

By The Banker | Blog Posts, Personal Finance, Texas

Last week I wrote about the personal credit score, used by virtually all lenders in this country, known as FICO. But I know there are some of you who you can and should ignore your FICO score. I also want to mention the risk of paying too much for your score, the benefits of boosting your score, and [&hellip

Ask An Ex-Banker: FICOs Score and Monthly Balances

Ask An Ex-Banker: FICOs Score and Monthly Balances

By The Banker | Blog Posts, Personal Finance, Texas

Note: See Part I on FICO Scores, which inspired this question from a reader. Dear Banker, I’ve been getting copies of my 3 credit reports annually since 2005. I’m concerned about a change in the reported information from Capital One and Chase. My reports used to reflect 1) amount billed 2) scheduled (minimum) payment 3) [&hellip

FICO Scores - Part I

FICO Scores – Part I

By The Banker | Blog Posts, Personal Finance, Texas

I’m 43 years old and I have a terrible confession to make: I still know my SAT scores by heart. Wait, it gets worse. I still know my PSAT scores by heart. I know, I know, I’m that guy. I’m not proud of this so let’s move on quickly to another semi-related topic: FICO scores. [&hellip

More on Subprime Lending Policies from the Feds

More on Subprime Lending Policies from the Feds

By The Banker | Blog Posts, Texas

Editor’s Note: A (shorter and less conversational) version of this post appeared earlier today in the San Antonio Express News. An official from the Department of Housing and Urban Development (HUD) responded last week to disagree with my article two weeks ago in which I claimed that Secretary Julian Castro supported subprime lending, in his [&hellip

Ask an Ex-Banker: Home Loans and Home Equity Lines of Credit

Ask an Ex-Banker: Home Loans and Home Equity Lines of Credit

By The Banker | Ask an Ex-Banker, Blog Posts, Personal Finance

Q. Dear Banker, My wife and I are planning an addition to our house. We need the additional space, but I do not want this project to stretch our overall budget. Since I have a specific idea of how much I want to pay, a rise in interest rates would cause us to make different [&hellip