Wednesday, September 02, 2009
When it comes time to apply for a mortgage, your credit score will play a big part in the rates the banks will offer you. Your score, known commonly as your FICO score, is similar in many ways to the old SAT scores we used to get into college. The score runs from 300 (awful) to 850 (really, REALLY, good). A Money Magazine article, published online on CNN Money.com, provides a number of strategies for improving your score - a wise idea prior to applying for a mortgage. You will see that the task of improving your credit is as much an 'art' as it is a 'science'.