Good news for some Credit Card holders....

In a time when financial news just seems to get worse with each day, I read an article that provides a little hope for some. For individuals that have been skilled at managing their credit, they may see an increase in their FICO score. Fair Isaac, the company responsible for calculating our consumer credit ratings for lenders, has announced that is going to use a new formula, which promises to favor responsible credit holders.

Check out the Full Article here from CNNmoney written by Walecia Konrad.



















For the rest of us, here are some tips to improve that scary little credit score.

Check out: http://www.myfico.com/ for more credit score information.

• Do request and check your own credit report. Many services available to request your credit report.
  
• Pay your bills on time. Obviously, right?
  
• Please understand that paying off a collection account will not remove it from your credit report. Many people aren't aware of this.
• If you are having trouble making ends meet, contact your creditors or see a legitimate credit counselor.They aren't as scary as many think.