Credit Scores & Credit Reports provides the first thorough examination of the all-important, but little understood, Credit Scoring and Credit Reporting systems. The Second Edition of this highly-acclaimed book enables consumers to understand how both of these systems actually work, and what they can do to improve their FICO scores, and to ensure their credit reports are accurate. Importantly, the book also describes how the system sometimes doesn't work, and how hundreds of thousands - if not millions - of consumers have been frustrated in their efforts to correct errors in their credit reports. Moreover, it explains: *Link between credit reports and the burgeoning problem of identity theft *How credit card companies use credit scoring to raise your interest rates *The role of credit scores in auto and homeowners insurance *The difference between mortgage rates for consumers with excellent, good, fair and poor credit scores *The damages to consumers and their creditworthiness flowing from credit report inaccuracy and identity theft *Credit reports and debt collection *The debate over credit scoring and discrimination *The politics of credit reporting The current credit reporting system keep detailed financial histories on more than 200 million Americans. That is why virtually everyone has a stake in the system, and why Stephen Brobeck, executive director of the Consumer Federation of America said, "There are few books I think all consumers should read. This is one of them. It is a well-informed, informative, and a well-written guide to a subject of great and growing importance to consumers."