A federal judge has struck down a Biden-era rule which would have eliminated medical debt from Americans credit reports.

Economists worry about tariff-induced price hikes, inflation, interest rates and the outlook for the job market.

The regulator of Fannie Mae and Freddie Mac wants to allow mortgage lenders to use an alternative credit score to FICO for borrower applications.

Paying off balances and reducing debt will improve a 500 credit score fast. As you pay down debt, you will lower your credit utilization rate. Your credit utilization is how much you owe versus your total credit limit. It is the second most significant factor in calculating your score, accounting for 30% of your FICO score.

If you are someone who believes in using credit cards for as much as you can, you are not alone, as the whole concept of “cash is king” is slowly dying away. With the rise of mobile payment apps like Apple Pay and Google Pay,

Federal Housing Finance Agency director Bill Pulte announced that lenders may start using VantageScore, a rival to the Fair Isaac Corporation, the company behind the widely recognized FICO score, to assess creditworthiness for government-sponsored Fannie Mae or Freddie Mac mortgages.

Credit scores matter more than ever. With mortgage rates elevated, a good credit score can lead to real savings. Better credit typically unlocks lower rates, broader loan options, and a smoother approval process. It can even be the difference between qualifying for a loan or not.

For years, lenders have used only the FICO score, from Fair Isaac Corp. — a metric that generally excludes such things as rent and utility payments. Since 2022, the FHFA has required lenders to use the FICO Score 10 T, a mortgage-specific grade that’s one of many scores issued by FICO.

Steps to strengthen credit profile and increase your credit score includes reviewing of existing loans, strategy to handle multiple loans, review of existing credit cards, adding new credit cards to portfolio,