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Credit management is a process of determining, establishing and implementing policies related to the timely recovery of credit that has been granted, setting appropriate terms for credit, and monitoring compliance with business credit policy, amongst many other credit related activities. A credit manager must also be prepared to take corrective action should policies not be…

Credit management is an essential process for any individual or business that requires access to funds. It involves the careful monitoring of credit accounts, the collection and repaying of loans and payments, the allocation of available credit to different credit accounts, and the timely retrieval of funds when it becomes needed. Credit management is also…

Check credit score! Why? It makes no sense why anyone would do something as important as cleaning their credit without even knowing about it. The most important thing to check for is accuracy and timeliness. Your financial life depends on it. A credit rating is basically a numerical value calculated on a detailed level review…

A credit score is usually a numerical value calculated on the basis of a person’s credit file, reflecting the creditworthiness of that person. A credit score can fluctuate widely depending on the many variables that are considered when calculating it, including but not limited to, how long a person has been established in his or…

A good credit score is a key ingredient to successfully applying for and getting approved for home, auto and other loans. It is important to understand, though, that many lenders use different formats for calculating credit scores, so it is essential to ask the questions that will enable you to learn how lenders arrive at…

FICO Score Versions Used by Lenders and Credit Repair Companies A credit rating called FICO is the most widely used tool for banks, credit card companies and mortgage companies to assess the financial risks of potential borrowers. FICO, originally Fair, Isaac and Company (now named Equifax) is a publicly held data analytics firm based in…

If you have been looking for information on how to increase your credit score, then this article will provide you with the basics. There are a lot of different factors that go into the calculation of credit scores and one of them is the number of open accounts. The higher number of accounts, the more…

A credit score, also known as a credit rating, is a numerical measurement calculated on the basis of an assigned scale, reflecting the creditworthiness of a person. A credit score normally depends on several variables such as the amount of credit extended, types of credit applied for and frequency of payment made. A credit score…

What is a credit score? A credit score, also called a credit history rating, is a numerical representation of an individual’s credit risk, to reflect an individual’s creditworthiness. A credit score reflects a credit history, generally sourced from three credit agencies, most commonly the credit bureau known as Experian, Equifax, and TransUnion. The score is…

FICO, originally Fair, Isaac and Company (now known simply as FICO), is an information analytics firm based in San Jose, California specializing in credit monitoring services. It was founded by Earl Isaac and Bill Fair in 1956. Their FICO score, an independent measure of customer credit risk, has since become a staple of personal lending…