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Take the Measure of your Credit History for Success

Make sure your FICO score is ready for later purchases

It is important to consider your FICO score and rebuild credit if necessary when planning for homebuying and retirement

While age is not directly a factor of the

FICO score, it can be an important part of it indirectly. For seasoned consumers, it is very important to know your score, especially when you are considering buying a home. Equifax expert Janet Dedrick explains in the recent article, “

Credit Trends: Does Age Factor into Your Credit Score?

The credit score of older consumers have many experiences, just like the people they belong to. When looking at a long credit history, it is important to consider

good debt vs. bad debt. For instance, older consumers may have the good debt of paying off loans in full, greater variety of accounts or deeper pockets to handle debt when it arises. On the other hand, they might have bad debt like losses from investments, late payments or more severe damage like a foreclosure or repossession. (Continued…)

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