How To Improve Your FICO Score
Some of the highlights that you will find in Kelly’s post:
- What is a FICO Score?
- Breakdown of your FICO Score
- Tips on how to improve your FICO Score
Overall, I think Kelly has some really great tips that can help you out if you are trying to improve your credit score. However, there is one tip that I don’t really agree with and it is related to payment history.
While the tip is technically correct that it is best to avoid payments on old items that are about to drop off your credit report in order to avoid the debt becoming current again, I just have a personal issue with not paying a debt that you rightfully owe.
In my opinion, while paying an old debt will have a negative impact on your credit score I think it is your obligation to pay back any debt that is accurate. This is often times a hot item of debate but personally speaking, I just feel an obligation to pay any legitimate debts regardless of the potential negative effects.
Kelly, thanks for the great post on FICO Scores and I hope to see more posts with a personal finance flavor from you in the future!