Take Charge of Your Credit
- Buffini & Company

What's the score?
The FICO credit score (named for developers Fair, Isaac & Company) reflects dozens of parameters in one's financial history. FOr years, this number was a tightly guarded secret. Congress has now secured your right to know your score - take advantage of it.

• Score 700 - 850     smooth loan process; best interest rates
• Score 550 - 699     medium risk; higher interest rates
• Score 300 - 549     sorry, no loans or credit cards

In 2008 it can be even more stringent than this given our financing crisis.

Know Your Score
Are you counting on a new car, a new roof, new furniture? Before you talk financing, send for your credit report and FICO score. If there are errors or other surprises, contact creditors to make corrections or negotiate settlements. Also, be sure to notify the credit bureau of your dispute.

Legitimate black marks on your credit won't disappear quickly. (It takes seven years; ten for bankruptcy.) However, time and your diligence can turn things around. Lenders will give recent responsible activity due consideration.

In our credit-driven society, taking charge of your credit should be an ongoing process. Your FICO score is a snapshot in time, not set in concrete. Review it each year for errors that may have crept in and to monitor your progress. You have the power to know it, raise it, maintain it.

For more information, contact Terrylynn Fisher, CSP Realtor, 925.876.0966