By Barbara Pronin
Most people don’t think too much about their FICO scores until they want to get a loan. But no matter the type of loan you want – mortgage, new car, or whatever – the higher your FICO score, the more likely you’ll be approved.
Understanding the five factors that make up your scores can be the first step toward improving them. Financial experts at the Motley Fool break down where your scores come from and suggest a few ways to improve them: