Credit Scores, Credit Reports and Consumer Issues

Your credit score is important for borrowing money, but it is also important for pricing insurance policies. Insurers refer to your credit score when giving you a quote for automobile and homeowner's insurance. You can get a free credit report from each of the three credit reporting companies -- TransUnion, Experian and Equifax -- by using annualcreditreport.com website ONLY. This website is operated by the three credit reporting companies in compliance with federal regulations. You can get a credit report from each of the three reporting companies. If you are interested and want to keep track of your credit report, apply every four months for a report from a different company -- TransUnion, Experian and Equifax. This gives you a report every four months without cost to you.

If you use any of the other credit reporting websites, you will sign up for a monitoring service and pay an unnecessary charge. You can monitor your own credit and will receive better information with your own review of your credit reports. Why pay someone to monitor your credit? Do not be intimidated by scare tactics and fear of identity theft.

If you are interested in your FICO score, you can obtain the actual score for a fee from myfico.com. The current cost is $14.95 for one credit score. Your FICO score calculations come from Fair Isaac Corporation that first developed the FICO score formula. About 35 percent of the score comes from your payment history and another 30 percent is based on what you owe. Fifteen percent of the FICO calculation arises from the longevity of your credit history. FICO divides the other 20 percent between new credit and other factors, with 10 percent for each. A search for several new credit lines can lower your score, but a mix of different types of credit may increase your score. You can read more about your credit score at the FCIC website operated by the federal government for consumers.

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It's survival of the fittest in Texas in the summer. The critters are all around the house. Today I went out to fertilize the flowers and the anoles are everywhere. Many are only an inch or so long. You may recognize these as chameleons, as they change color from green to brown, and puff a large red throat at times. This little guy is not a gecko -- we have those, too. They are brown speckled.

See you soon!