Mind on My Money: Black Personal Finance 101
About Your Credit Score
What Is Your Credit Score
You could look at your credit score as a kind of beauty contest for your financial history. Ranging from 300 (really REALLY ugly) to 850 (Absolutely Stunning) the three digit score generated by your credit file is used by a wide variety of companies to make decisions as to your credit risk and worthiness.
Widely accepted as the industry standard, the FICO Score is the standard tool used by lenders, potential employers and a host of other companies to determine the level of risk they are exposing themselves to if they were to accept you as a customer. Higher credit scores qualify you for the best interest rates and terms. Lower credit scores will have you qualified to be shown the express route to the front door.
Who's This FICO Guy, and Why Is He Judging Me
Your FICO score is determined by the Fair Issac Corporation, the company that invented the algorithm that calculates your credit worthiness.
What's In Your Credit Score
Your Personal Data