Knowing Your Score

knowscoreThere is a lot of buzz about knowing your credit score.  That buzz can be misleading because there is no one credit score for each person.

There are many different credit scoring models that co-exist in the marketplace including generic scores, proprietary lender scores, industry specific scores and educational scores. A number of the scores available for purchase are considered educational and do not coincide with the exact scores that a creditor will obtain when you apply for credit.

Typically you have to pay a nominal fee to get a score generated from your report.  Federal law entitles us all to one free report each year from the three major bureaus, Equifax, Experian, and TransUnion, but it doesn’t provide for a free credit score.

Buying all your different scores would be expensive, not to mention the time involved in tracking down all the different models and their uses.  So, which score should you know? And, do you really need to know all those numbers?

Learn more about credit scores in our new project, Credit Scores: You Do the Math
Underwritten by:experian_logo

  Home Repair Tax Credits

Don’t you just love the idea of improving your home and getting a tax credit for the effort? That’s exactly what the federal government is doing with its offer of a tax credit in 2006 and 2007 to help pay for the purchase of new insulation, storm windows and doors and new Energy Star certified windows. The installation costs are on you. Furnaces, boilers and central air conditioners are also covered in the rebate, as well as a new, qualified water heater. So if you are making improvements to your home why not find out exactly what and how much you can claim as a tax credit? A good place to start is Elisabeth Razzi’s The Fearless Home Buyer, featured at www.razziblog.blogspot.com. Keep in mind, tax credits are even better than tax deductions because they directly reduce the amount of tax you owe.
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