Change in FICO formula may ding your score

By Steve Rosen •
CNET
Stacked credit cards

A new hurdle awaits many younger consumers who already find it challenging to build a credit history and become good borrowing risks. It’s called FICO Score 10 Suite, an update to the credit scoring algorithms created by Fair Isaac Corp. that are widely used by credit card issuers and other lenders. It is scheduled to

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Increase Your Credit Score… By Renting

MoneyTips •
MoneyTips
Young couple moving in new house

On-time payments are a solid way to build your credit score. Your payment history constitutes 35% of your credit score – the largest contributor among the five factors used in calculating your score. Payments on most debts are reported to the three major credit bureaus (Experian, Equifax, and TransUnion) for inclusion in your credit report,

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