Some Quick, Easy Ways to Raise Your Credit Score

Carolyn Warren

Do you just love supporting the fat cats on Wall Street? Do you want more of your hard-earned money going to increase their profits? No? Then you must pay attention to your credit score so you can qualify for a lower interest rate and pay less. Risk-based pricing is all about the risk to the lender: the lower the risk of lending money to you, the lower your interest rate.

Your FICO score, developed by those thoughtful Fair Isaac Corporation folks, is based on the middle score from the three main national credit reporting agencies or credit bureaus, as they’re called.

The table below shows a sample for a purchase loan of $200,000 with a 20 percent down payment.

Purchase Loan of $200,000 ...

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