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    Intro to Credit Scores And How They Secretly Control You

    By Ben Popken, 1:55 PM on Mon Oct 9 2006, 319 views
    Dan The Mortgage Man is here to give the lowdown on credit scores, three digits that can have a big impact on your life, from getting a credit card, to taking out a loan or in some cases, getting a job.

    The info doesn't really start until 2:00. Ignore the local morning news malarkey. If you find their hijinks hard to stomach, try this two minute bit by Bob Walters of Quicken Loans.

    The biggest secret to maintaining a good score is paying your bills on time. That counts for 35% of your FICO. The remainder is:

    30% Amount Owed
    15% Length of Credit History
    10% New Credit
    10% Type of Credits in Use

    You can find out your FICO score at Fico.com. The Fair Issac corporation offer a 30-day trial, so make sure to cancel on time if you want to avoid the $89.95 annual cost.

    Wonderful that something can affect consumers so much, that every lending company has access to, is a proprietary formula, and you gotta fork over the scrizzle to find out where you stand.

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