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Credit Score

Tuesday’s need-to-know money news

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Today’s top story: This could be the biggest blow to your retirement. Also in the news: How one couple ditched their debt, why good credit is essential when remodeling a home, and how to apply for a credit card with no credit.

This Could Be the Biggest Blow to Your Retirement
The battle with healthcare costs.

How I Ditched Debt: ‘It Became Like a Game to Us’
One couple’s story.

Remodeling Your Home? Good Credit Offers a Strong Foundation
The better the credit, the better the offers.

How to Apply for a Credit Card With No Credit Score
Exploring the options.

Monday’s need-to-know money news

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Today’s top story: The benefits of a just-for-debt credit card. Also in the news: July’s stock market outlook, bogus organic fruit, and how long it takes your credit score to recover from a drastic drop.

Just-for-Debt Credit Card: It Has One Job
Use this card for only one thing.

Stock Market Outlook: A Market That Giveth and Taketh Away
Buckle your seat belts.

$6 Million in Bogus Organic Fruit Sold to U.S., Costa Rican Report Finds
Bogus pineapples fill the shelves.

How Long It Takes Your Credit Score to Recover from a Drastic Drop
Be prepared to wait.

Tuesday’s need-to-know money news

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Today’s top story: How to save money by thinking like a college student. Also in the news: What an average retirement costs, how soon should you worry about your credit, and how to budget for your kids’ summer vacation.

Save Money by Thinking Like a College Student
You can skip the ramen.

Let’s Get Real: What an Average Retirement Costs
Breaking down the numbers.

Ask Brianna: I’m 18. Should I Worry About My Credit Yet?
It’s never too soon.

How to Budget for Your Kids’ Summer Vacation
Summer can get very pricey.

Don’t let your credit die of neglect

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Certified financial planner David Rae says he used to think that “anyone who could draw breath” could get an auto loan. Then one of his millionaire clients tried to buy a car — and failed.

The 42-year-old client was turned down for a loan because he had no credit scores , says Rae, who is based in Los Angeles.

Nineteen million American adults are “unscoreable,” lacking enough recent credit history to generate credit scores, according to the Consumer Financial Protection Bureau. They either have “thin” files, with too few accounts, or “stale” ones that haven’t been updated in a while. In my latest for the Associated Press, find out how having no scores can cost you.

Friday’s need-to-know money news

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Today’s top story: Seeking smart, funny – and a credit score above 700. Also in the news: Wellness travel helps you tune up or tune out, what you need to know about investing in IPOs, and a major tax mistake to avoid if you have student loans.

Seeking Smart, Funny — and a Credit Score Above 700
Your credit score could impact your dating options.

Wellness Travel Helps You Tune Up or Tune Out
Getting in touch with what matters.

What You Need to Know About Investing in IPOs
Proceed with caution.

Got student loans? Don’t make this major tax mistake
Don’t forget to deduct your interest.

Q&A: Credit scores come in many forms

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Dear Liz: I am now getting my credit score from three different places: my bank, one of my credit cards and a free online site. Why are all three of the scores always different?

Answer: You don’t have one credit score, you have many and they change all the time. Furthermore, you’re probably looking at scores created with different formulas that may be using information from different credit bureaus.

The FICO 8 is the most commonly used score, but the number you see may vary depending on whether the data is drawn from Equifax, Experian or TransUnion credit bureau and when the score was created. Your scores will change as lenders update the information in your credit report. FICO scores may also be tweaked for different industries, such as credit cards or auto loans, and be on a 250-to-900 scale rather than the 300-to-850 scale of other FICO scores. FICO scores also come in different generations, so your FICO Bankcard Score 2 may be different from your FICO Bankcard Score 5.

Free sites typically offer VantageScores, created by the three bureaus to be a rival to FICO. These scores are also used by lenders, but not to the same extent as FICO scores.