OriginalNixster is confused:

I really just don’t understand this whole FICO Score / Credit report thing

We’d encourage checking out some of our resources on the topic.

A good start? Reading our articles on credit scores and FICO scores.

In short, these scores are ways of measuring your financial reliability based on your credit history. It’s simple to understand but, of course, can take a lifetime to perfect.

NidalM gives a great tip for financially ambitious cardholders:

As your credit score improves, ull get access to better cards that completely blow store cards out of the water. Stick to it!

The tweet highlights one of the forgotten truths in credit- it’s a process. Getting good credit takes persistence and careful financial planning, not one shot remedies or quickie cures.

So stick to it! You can take your credit back.

Kittikat1119 provides a testimonial:

How I live with Zero Credit Cardshttp://www.helium.com/items/1651561-how-to-live-without-credit-cards

The full article here displays some commendable budgeting techniques and a real dedication to frugality.

However, we have to repeat our mantra at Taking Credit: using credit cards is not the same as taking on debt.

Why not?

Occasionally, you may need large loans, leases, or mortgages that require you to have a credit score. The more credit you have already- and the more responsibly you use it- the better …

Today, we were pointed to an article about consumers taking credit.

As credit card changes to interest rates and fees rock the credit industry, consumers are reacting by applying for new cards and transferring balances.

That might be a good thing.

As long as you don’t apply to too many cards at once- since that can damage your credit score- it’s a good idea to keep your options open. Credit is changing, but your finances don’t have to change for the worse.

Bchao524 shares a funny story from the credit frontlines:

American Express just offered me (19 year male college student) a $5000 credit limit. Sign that the economy is better or just terrifying?

It’s a funny take on a common situation.

We won’t comment on the economy or whether Bchao524 should take the deal.

However, it is an interesting opportunity to explain the unusual way credit works. It’s easy to conflate credit limits with debt. We think that high credit limit might lead to high debt. That isn’t necessarily the case.

If you can …

Michaelceci provides a cautionary tale:

I just watched someone split a $600 dollar purchase across 4 different credit cards. Cut them up now.

Should you split charges across cards? And if not, then why?

Obviously, there are a few cases where you may want or need to split charges across different credit cards. If you are making an exceptionally large purchase, you may not have high enough a credit limit to pay for it with just one card. In addition, if you believe you will be declined for using just one …

CGunst notes the FTC’s approach to free credit reports:

FTC takes on “free” credit report ads with their own ads http://bit.ly/2pxjt2“Don’t be misled…they’ll sell you something else instead.”

The New York Times article notes consumer confusion over what free credit reports are and how they work.

The main thrust of the FTC and article is that consumers don’t need advanced credit monitoring. Obviously, that stands in the realm of opinion. However, it is important to note that credit report services …

Openstartup makes a pun that we can’t resist building on:

There are 3 dimensions to credit cards, length, width and debt.

This quote is already seeded with one pun, but that doesn’t mean we aren’t willing to continue the joke. In addition to the three dimensions listed above, credit cards have a fourth dimension: time.

Few people realize that a significant part of your credit score- 15% or more- is based on the length of your credit history. The longer you have had a specific line of credit, the better your …

Crystallyn has caught on to a disturbing quirk of credit scores:

@janelebak no, closing your credit cards actually hurts your credit rating. It’s crazy, I know!

Is it true? Yes, closing a credit card can damage your credit.

Yesterday, we posted about new Bank of America annual fees possibly being levied on credit card users who pay off their entire bill. Naturally, some users want to cancel their cards in order to avoid the fees. However, it’s possible that could hurt …

Mmunz is on top of some developing credit card news:

BoA is going to start charging an annual fee of $30-$100 for people that pay off their credit cards every month.

What’s happening? As this USA Today article confirms, Bank of America is charging some customers a fee for users who do pay off their card. However, the rates are listed as experimental, and details vary from card to card. Spokesmen say that rates are currently being “tested” and are not necessarily set in stone. Of course, many …