Description

Many, many folks have found that their credit scores are less-than-appealing – especially in such a weak economy with so many layoffs and company restructuring efforts that have left tons of people jobless. Regrettably, it is a heck of a lot easier to lower your credit score than it is to increase it. Credit scores are measured on the Fair Isaac and Co scale or FICO with the majority of lenders. Your FICO score is used to determine your creditworthiness or lack thereof. This score is compiled based on information that is reported about you and your borrowing habits to the three major credit reporting bureaus (Experian, Trans Union, and Equifax). Having a bad or damaged credit file makes your FICO score lower, which results in everything from denial of credit to denial of employment. Let's look at ways that you can increase this all important FICO score: