The speaker discusses how your credit score can help you get through the credit crunch. He mentions that lenders will look at three major factors before extending credit to borrowers: collateral that is put down, capacity to repay debt, and your FICO score
The speaker discusses the importance of knowing what your FICO score is. He mentions that many Americans may be using their credit cards more than they would like due to the financial crisis that this country is in. He suggests that it is important to understand the ramifications that this activity is having on their c
The speaker answers the question about the difference between a FICO score and a non-FICO credit score. He mentions that most mortgage lenders will use the FICO score. There can be real differences between the credit score published by Equifax, Experian, and Transunion and the one that is published by FICO.