One of the most common questions about credit is “How do I fix my credit score?”

Well the answer to that question is simple. You actually cannot fix a credit score. Confused? Don’t be. I’ll explain shortly.

You see, your credit score is tied to the information on your credit file, also known as your credit report. Needless to say, if your credit file sucks, your score will suck. Conversely, if your report is good, your score will be good or even great.

Now you see why you can’t actually fix your credit score: you can only raise or lower it depending on what is on your credit report. So, the first thing is to tackle your credit report. This means getting rid of negative information and adding as much positive information as possible. More on Fix My Credit Score – Plus How to Clean Your Credit Report

Are you looking to restore credit rating scores to a more agreeable and positive level? More than likely you are but you are unsure about how to go about the process of bringing your credit rating to a level that would put you back on the road to financial health.

If you are not 100% sure about the process, here is some good news: it is not all that difficult to boost your chances of success. All you need to do is take a few simple steps that can effectively restore credit rating scores. Here is a look at some of those methods. More on Getting Out of Debt and Restoring Credit Rating

We try out best to make sure our credit stays at peak levels but this flat out can be undermined when circumstances arise that undermine such goals. For example, a loss of job or income can lead to the inability to make payments on debts.

This then leads to the disastrous situation where a credit score heads south. At this point, a significant ripple effect of problems can arise. But, here is some positive news on this front: you can repair and rebuild your credit provided you take the right steps. More on How to Rebuild Your Credit and Raise Your Credit Score Fast

There are two kinds of credit inquiries, one of which can hurt your (Fico) credit score. We shall look at how to remove inquiries from credit reports, especially when they are not authorized. But what exactly are the two types of inquiries?

First, there is what is commonly known as a “soft inquiry”. When you request your own credit file, this creates a soft inquiry. Likewise, when a credit card or other creditor-type company is checking you out for marketing purposes (the result of which is junk mail), this creates a soft inquiry. More on How to Remove Inquiries from Credit Report

One very important element in your overall credit worthiness package is your FICO credit score. But what exactly is that and how does it affect your debt management choices?

FICO is an acronym formed from the letters of its founder, the Fair Isaac Corporation. It is a number between 300 and 850 that ranks credit worthiness according to a proprietary algorithm invented by the company, with 300 being worst and 850 being best. Other companies now have their own variations. More on FICO Credit Score – What is That?

Are you living life in the fast lane? And tired of keeping up with all your expenditures? Life is like that, sometimes you get what you want, and sometimes you don’t. And since this is a fact of life, is there anything you can do to improve your life?

Don’t be desperate; it’s not the end of the world. It’s but natural to incur expenses as you go on with your daily life. Most especially now that almost every price of an item you need is soaring high. This is one reason why people find loans, credit cards, and other credit transactions more attractive. More on High FICO Score on Credit Report Obtains Positive Responses

In order to start repairing your credit and improve rating, it is important to have a basic understanding of how your rating is calculated. This in turn will help you understand what you are supposed to do and why.

While different agencies have different reporting systems, FICO is the industry standard and one which most lenders use.

Your credit score, also known as credit rating, is a number between 300 and 850 that summarizes your risk of default. If is also referred to as a FICO score simply because Fair Isaac company developed it.

More on About Credit Score Algorithms and How to Improve Credit Rating

Most consumers do not know that three-figure number that potentially has a six-figure impact on your life. We are talking about your credit score. And most lenders will not give it to you. They will only tell you whether you’re approved or not approved for a loan or credit card. So, how do you find out credit score, your own that is?

First of all, you should know that scores differ among the top three credit reporting bureaus, sometimes by a large margin. Why do they differ? The main reason is that different creditors report to one or two of the bureaus though some do report to all three.

More on Find Out Credit Score Now – Where and How to Do This

I love to watch The Suze Orman Show on TV. I love especially her advice on budgeting, mortgages, and living trusts. But she can be wrong at times (just like the rest of us). On at least two occasions she has given advice which to my opinion was not factually correct. 

Needless to say, she is savvier than I on Financial matters. That’s why she is a celebrity. But focus is mainly credit simply because this is an area in have personal experience. And this is where I’ve seen Suze give incorrect information.

More on Suze Orman – Why You Are Wrong On This

Auto insurance companies are seeking more and more ways to part you with your hard-earned money. Some of these unfair practices border on discrimination (I have no better word for it).

It started with credit scores. Though some states have outlawed this practice in states that have not, many insurance companies continue to charge rates on premiums based on credit scores. Yet in most states, auto insurance is not a choice. It is mandated by law.

And the consequences can be dire if caught driving without “liability”. They include hefty fines and long license suspensions depending on the state’s laws.

Why these companies would charge you more based on credit scores for something which you have no choice whether to have or not to have, beats me. Miss one payment and your coverage could get cancelled, and as far as I know from experience, a policy cannot be reinstated once cancelled. There is virtually zero risk of default.

As if this is not enough, now some auto insurance companies are basing premium rates on level of education, occupation, home ownership and whatever else they deem fit. It is one thing to consider me “high risk” because I’ve had one accident or a speeding ticket. But to charge me more on basis of not having a college degree is beyond the understanding of my mortal mind.

What has renting or owning a home got to do with my driving? Why should, say, a doctor of equal age and driving experience (who also makes more money) as I have to pay less?

And it’s not just about rates. Your eligibility is also affected. Yes, a company can turn you down or decide to drop you based on these preposterous criteria.

Why, pray, are insurance auto companies being allowed to practice what I dare call classism?