FICO buckets are used to group consumers with similar profiles and credit histories. Basically it is done so that the FICO algorithm compares apples with apples, not apples with oranges.  While the FICO scoring formula takes into account many variables, the bucketing concept makes sure that consumers with similar variables, e.g, length of credit history, revolving utilization, number of late payments, number of collections, etc., are compared against each other.  That way you are not compared with someone who is in a completely different credit situation.
Apparently there are several …

The highest possible score is 850 on most commonly used credit score scale today.  For many, it is just like a game to obtain the highest score possible.  Quite frankly, it takes a lot to obtain best FICO scores.
Time is one important aspect, different account types is another.  But to reach the highest possible credit score, be aware, it is hard work with little reward.  Consumers with the second or third best FICO scores, for example, up to 100 points lower, get practically the same rates and terms …

Need some quick motivational figures to clean up your credit and get your business plans and financial house in order?  Just look at this ‘triumph of the nerds’ as some have called it, a listing of the world’s richest tech moguls, their net worth, and change in net worth this year.

No. 1. Bill Gates, Microsoft: $50 billion, down $7 billion
No. 3 Larry Ellison, Oracle: $27 billion, no change
No. 11 Sergey Brin, Google: $15.3 billion, down $600 million
No. 11 Larry Page, Google: $15.3 billion, down $500 million
No. 13 Michael Dell, …

If you’re like most people, being on the opposite end of a collection call can be quite a defeating interaction. Collectors generally seem unforgiving and absolutely unwilling to hold a civil conversation. This all makes it very difficult to make any progress (let alone get the upper hand) during one of these calls. Nonetheless, it’s been my experience that when you equip yourself with the correct tools, controlling the outcome of a collection call can be very easy.
1. Collectors are trained to toy with your emotions for a very specific …

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