Credit reporting bureaus continually update credit reports as they receive information from lenders. Your credit score may change with these updates as lenders add new information to your credit report but also as old information drops off your report. How updates affect your credit score can depend on your overall credit history.

If you have bad (a 500 credit score to 580 credit score) to poor (a 581 credit score to 639 credit score) credit but want to increase your FICO Score by 150 points then read on to find out how to boost your credit score in the next 6 months.

When you close the credit-card account that you’ve had the longest, it will lower the average age of your credit accounts and drag down your FICO Score.

Debt settlements are where the debt collection agency or creditor agrees to take a lesser amount than what is actually owed in order to eliminate the debt. It is very useful for paying off old debts for less money than what is owed and can save hundreds of dollars when it comes to paying off the debt.

FICO Score is a term used to describe the number assigned to you in relation to your credit. It is simply a number used to represent your financial obligations in relation to your credit history. It is called FICO because this score is determined by software created by Fair Isaac and Company.