For those looking to boost their credit scores with cell phone and utility payment records, the Experian Boost program takes these records into consideration, based on Experian data.
According to Credit.com, there are five factors to consider for calculating one’s credit score: Payment history; credit utilization; age of credit; types of accounts; application history.
How Is My Credit Score Calculated? | Credit.com). “VantageScore creates a single tri-bureau model that can be used with a credit report from Experian, Equifax or TransUnion” while “FICO® creates bureau-specific scoring models” (par. 7). Per Experian, “…on the 300-to-850 scale, a score of at least 670 (for FICO®) and 700 (for VantageScore) will generally qualify as having good credit (par. 16)
The Difference Between VantageScore and FICO® Scores – Experian
MyFico writes, “Soft inquiries such as viewing your own credit report will not affect your FICO Score. Hard inquiries such as actively applying for a new credit card or mortgage will affect your score (Credit Checks: What are credit inquiries and how do they affect your FICO® Score? par.2).
How Do Credit Inquiries Affect Your FICO Score? | myFICO
Experian Boost – Instantly Raise Your Credit Scores for Free!
Where to Go for Free Copies of Credit Reports
For those who have credit cards, most people can check credit scores for free through their accounts at their crediting institutions.
Free Credit Reports
- Free Credit Scores | Credit Karma
- Credit Sesame | Free Financial Planning & Credit Score Analysis Tools
- Free Credit Score & Free Credit Report with No Credit Card |
- Mint (intuit.com)
- Free Credit Report – FreeCreditReport.com
- Check Your Free Credit Report & FICO® Score – Experian
- Experian Boost – Improve Your Credit Scores Instantly for Free
- Annual Credit Report.com – Home Page
Credit Resource Tools
Credit & Debt Resource Education Tools
- Credit Archives – Consumer Credit
- Secrets to Credit Score Success – Consumer Reports
- Credit and Debt | Consumer Advice (ftc.gov)
- NCLER Training Resource: Strategies for Responding to Debt Collectors
- Fraud Affects Every Community | Consumer Advice (ftc.gov)
- CFPB Financial Education Exchange (CFPB FinEx) | Consumer Financial Protection Bureau (consumerfinance.gov)
OLDER ADULTS
- FDIC: Money Smart for Older Adults
- Money Smart for Older Adults COVID-19 Scams and Planning Tips (gpo.gov)
CREDIT COUNSELING
- Credit and Debt Counseling – NFCC
- NFCC – National Foundation for Credit Counseling – Home
- Free Credit Counseling: Get Out of Debt Faster | Consolidated Credit
- Credit counseling agencies | Free non-profit credit counseling (needhelppayingbills.com)
FINANCIAL CALCULATORS
Financial Calculators Archives – Consumer Credit
STUDENT LOAN BORROWERS
Save Time and Money On Student Loans with Savi (bysavi.com) “Savi helps America’s 46 million student loan borrowers easily lower their payments and find forgiveness. Join hundreds of partners that offer Savi technology and resources.”