Pick a mall pick apart some stores or pull your credit and pick apart the scores?

Before you run out and buy that new Louis in hopes of adding numbers to your social circle, you may want to consider a more important number. No, its not your social security number, the number of friends you have on Facebook, nor the number of followers you have on Twitter.

It is your credit score!
How can this very important number that helps banks to decide whether or not to lend us money be the most overlooked number in our lives? It is our risk number! ...need a car, credit card or mortgage? You can bet your bottom $ that the bank will know this number before you do! Sad, but true! Why is is that we fail to watch this score the same way we watch our weight or the number of times Lebron scores in a game?

What is a credit score?
According to FairIssac (the guidelines governing credit scoring) it is a number used by lenders to help them decide: "If I give this person a loan or credit card, how likely is it that I will get paid back on time?" A score is a snap shot of your credit at a particular point in time.

Fico is the most widely used score. It is used to make billions of credit decisions every year. Check out the pie graph below to learn how your Fico score is broken down.

                                 Be in the know! Get your free Fico score at www.myfico.

The most important thing that I've learned about credit in my entire career is that, "Credit is a revolving thing" Banks can not make money if they do not lend money, and use other people's money. Unless you have several foreclosures and repos, your credit can be repaired! The question is not how bad your credit is, rather what you are willing to do to fix it? Is it worth devoting your time & energy to this overwhelming task if it means a better interest rate or more suitable loan terms? That's like asking is it worth time to hit the gym! Your Fico score is a vital part of your credit health just as walking/cardio is vital to our physical health, yet getting people to focus and devote time to either of these is like pulling teeth! If you are reading this article, pat yourself on the back because you have taken a step in the right direction! Order your free Fico score and then find out where you stand with the three major CRA's (Credit Reporting Agencies) You are entitled to one free report per agency, per year, and you have the right to dispute any mistakes! If discrepancies can not be corrected or proven right, they must be deleted! The form for disputes should be listed on the CRA's website.
www.equifax.com >>> www.transunion.com >>> www.experian.com

Don't just assume they are always right because CBS news reported in 04' that CRA's were wrong 80% of the time! Stay tuned to my blog for the next step to managing & maintaining your CREDIT SCORE after you have ordered all 3 scores and viewed your Fico score for free.

www.mycreditacademy.org Repairing your credit alone? Sound like a dummy mission? Try my friends at Credit Academy, be sure to tell them Ebony sent you! :)