Message from Lynn: Dear Friends: What makes up a FICO credit score? Anytime we apply for a new credit card, car loan or mortgage, the lender checks with one of the major credit reporting agencies - Equifax, Experian or TransUnion - and uses software developed by Fair Isaac Corporation to discover what type of "credit risk" you are. The number they receive will have a big impact on your future budget. The lower the score the higher your payments are likely to be and the higher the better credit you have. It's always been a bit of a mystery as to how the credit reporting agencies arrive at the score they do. Now the mystery is solved. The following is the information used to develop your FICO score. Payment History - 35% Amount Owed - 30% Length of Credit History - 15% New Credit - 10% Types of Credit Used - 10% For more information about FICO scores, visit www.fico.org. Please enjoy July's MoneyWise newsletter and please contact me if I can be of assistance to you.	July, 2007 Issue archived past issues ... F R E E ... Click here to sign-up and begin receiving your free subscription of MoneyWI$E. Email this page to a friend ... FEATURED STORIES ... 3 problems with refis - and what you can do Keeping tabs on older parents It's never too late to save for retirement. Here are five tips to help you jump in now. ... MORE INFORMATION ... Treasurer Lynn Jenkins, CPA State of Kansas 900 SW Jackson, Suite 201 Topeka, KS 66612-1235 Tel: 785-296-3171 Fax: 785-296-7950 lynn@treasurer.state.ks.us www.kansasstatetreasurer.com
MoneyWI$E is an informational service provided by Kansas State Treasurer Lynn Jenkins, CPA for the people of Kansas. The material contained within MoneyWI$E does not necessarily reflect the views of the State Treasurer, the State of Kansas, or other contributing sources. MoneyWI$E is a free newsletter; materials contained within this issue may not be reproduced without express written permission of the State Treasurer or the contributing source. The opinions provided herein may or may not be appropriate for any individual's specific financial situation. Individuals are advised to seek the advice of a licensed financial planner, stockbroker investment advisor, or attorney before acting upon the information provided herein or making any investment decisions.