About: NCES Staff

Recent Posts by NCES Staff

What Does My Fico Score Mean?
You probably understand that your FICO credit score is an important number.  But do you know what those three numbers really mean? Good... Fair... Excellent... Exceptional... It's enough to make you cross-eyed! Where your measure up on the FICO scoring scale affects many parts of your life - not just what interest rates you can get on a credit card or mortgage. We're talking job opportunities, utility...
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Three things you can do today to improve your credit score
Ready to improve your credit score? We wish there were tricks and shortcuts we could teach you… but there aren’t. Building a better credit score takes time and effort – but there are a few things you can do right now to give yourself a head start!

#1: Ask for a credit limit increase

One of the main factors used to calculate your credit score is your...
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Hard Credit Inquiries vs Soft Credit Inquiries
Credit inquiries are included in the "New Credit" category that makes up 10% of your credit score. That's not a huge amount, but it's still important.

So what exactly is a credit inquiry?

Credit inquiries occurs when you or someone else checks your credit report with one of the three credit reporting agencies. There are two types of credit: soft inquiries and hard inquiries.

Soft...

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