Public Home | Gold Home | Login

About . . .
  Member Benefits
  Founder, M. Angier
Affiliate Program
  Become a Member
Contact Info
  Mission Statement
  Update Info (subs)
  Site Map
  Tell a Friend
  Your Privacy


Resources . . .
  Customer Service
  Gold Member Home
  For Publishers
  Free Stuff
  Helpful Links
  Premier Partners
  Product Catalog
  Quotes Library
  Sample Articles
  Sizzle Sites
  SuccessMark Cards
  Success Shop
  Top Ten Lists
  World Class Biz






 been on
the Net
since 1995


By Michael Angier

This Number Affects Almost Every Aspect of Your Life

There's a number floating around that governs how much you pay on loans, whether or not you get a loan and even whether or not you get hired for a job.

I'm talking about your FICO® Score (Fair, Isaac and Co.).

A FICO® Score is a number that tells lenders what kind of borrower you will likely be based upon your credit history. Your score is between 300 and 850, and lenders prefer borrowers with higher scores.

Because Dawn and I don't have a need to borrow much and because we always seem to be able to borrow money whenever we need it, we never paid much attention to our credit score. But last December, when we financed our SUV, the credit union told us our score didn't qualify us for their best interest rate. Uh oh.

It turns out we had erroneous information in our files with one or more of the three major credit reporting services. And your credit history could, as well. The good news was the report showed we always make our payments on time. The bad news was someone else's unpaid hospital bill was on our report. That and a few other inaccurate listings dropped our FICO® score just enough so we didn't get the best rate.

In the whole scheme of things, another half a point on a three-year car loan isn't that big a deal. But what about a half or full point on a home mortgage? That would mean some serious money.

Keeping track of your FICO® score is well worth your time and attention. By the end of 2005, you should be able to get your credit report without paying any fees. But until that happens in your area, I highly recommend you find out what your score is and what your credit report contains.

We used My FICO® and were very pleased. Not only did we get our current reports from the big three and advice on how to improve our score, we signed up for monthly monitoring (ScoreWatch). This way, any change in our score—up or down—gets reported to us via email. If a credit card balance goes up by a selected amount or if a new account is opened in our name, we're notified. This way, if we become victims of identity theft, we'll know it quickly and be able to minimize its impact.

Action Point
Find out what your FICO® score is and get your credit report from all three major credit reporting services. Check your report for accuracy and dispute any incorrect or incomplete data. And then monitor your score. It can save you a significant amount of money.

Click Here to learn more about your FICO® score.





© Copyright Success Networks International.
SuccessNet is a worldwide association committed to helping people become more knowledgeable, productive and effective. Their mission is to inform, inspire and empower people to be their best—personally and professionally. Free subscriptions, books and SuccessMark™ Cards available at
Send This Page to a Friend

2048 Win-Win Way
South Burlington, Vermont 05407-2048 USA



Last Updated 04/26/2005