MortgagesUndressed

Question: Is it true that my FICO score can’t recover from a negative mark for 7 years?

Answer: Click here for the answer on our FICO AND Credit blog.

Long long ago before the FICO score young couples would come to me for a loan with predicatable conversations. I would run their credit reports, the young wife would be fine, the young husbands - in the tank.

Gads how these guys would play dumb. “I dunno honey” in true Chimp (I mean chump) talk.
Nowadays that doesn’t happen. You see, we males like to compete. We learn at an early age to keep score. Baseball, golf, basketball, kisses, and credit score.

Typically the wifes score is higher, but the young men have learned to grow up financially at a much earlier age.

So what is your score? Is it your badge of honor? How high can you raise it? If it is 500 it will be easier to raise than if it is 800. Even an 800 is able to climb up. Scores range from 300 to 850. They are vital in obtaining credit and insurance.

Is your spouses score higher than yours? Come on guys compete.

Is 700 high enough? Is 500 unfixable? No to both.

This is one of series we will write on FICO scores. It is in conjunction with a new service we will be offering you the consumer.