My Credit Plan Blog


My Credit Plan is the nation's leading FICO® Score improvement program with an average score improvement of 73 points! If you want to increase your FICO scores, set up an account today and start your credit score journey to higher levels! There is a minimal charge for services. My Credit Plan and its blog is operated by Family Financial Education Foundation, a 501 (c) (3) non-profit credit counseling agency. This blog offers many unique insights from direct research. My Credit Plan's blog and website are designed to help you find the correct answers to many of your questions, explain why, correct misinformation, and identify solutions to improve your FICO scores. Let’s go! (Information referenced on this blog must be sourced.)

Al Bingham
Al Bingham





Al Bingham

Finance & Credit Score Expert

Author and Media Consultant


I am nationally recognized for my extensive research, insight and knowledge on purchasing power, credit reports and especially the FICO® credit score.  I have extensively researched the FICO® credit score starting in 2003 and have published two editions of the book, The Road to 850, Advanced Strategies for Increasing Your FICO Credit Scores. Itoutlines the dozens of factors in the FICO® scoring system and provides advance strategies to improve them. 

From my research, I have discovered many unknown facts about the FICO credit score from my personal research. My knowledge is from first-hand research and from tracking the results of over 3,000 scores. I DO NOT regurgitate someone else’s assessment. I can state there is much misinformation circulated from many so-called “credit experts” who have spent little time researching the FICO credit score. As a result, consumers are given inaccurate or very little correct information. In the end, millions of consumers spend thousands more each year because of circumstance, lack of awareness and understanding.

I have taught thousands of the nation’s leading academics multiple times, including personal finance and family science professors, associate deans and deans. I also assist in helping them understand the complexity of the FICO scoring system and consumer’s purchasing power. I have worked with Family Financial Education Foundation to develop their program, My Credit Plan. My Credit Plan is designed to educate a consumer and provide a correct personal roadmap to credit score improvement.

I have provided commentary in over 200 television news stories for many media outlets including US News and World Report, Fortune Magazine, CNBC, CBS and ABC affiliated stations along with a host of other national and regional media. I also work many legal cases as a credit score expert. I was the lead credit expert in the Jabbari v. Wells Fargo case (the 3.5 million unauthorized-accounts opened), along with several other prominent cases. 

One Court has written: 

The Court finds that Mr. Bingham has performed a more rigorous analysis of the relevant factors and sub-factors (of the FICO credit score and its impact on the petitioner’s FICO scores). The Court has given more weight and credibility to Mr. Bingham. 

Judge Paul G. Maughn

Case No. 914900261

3rd District Court, State of Utah

I am excited to help all find solutions to their credit questions, and identify solutions to improve FICO scores, which ultimately leads to an improved purchasing power by increasing FICO credit scores – which means purchasing more for less!

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My Credit Plan has released its 2019 results – and it shows phenomenal success. The average Classic FICO® score increased 53 points for those who enrolled into My Credit Plan during 2019 – which means an improvement between 2 to 3 grades better in mortgage and auto loan terms. That is a lot of money saved by lower interest rates and fees.

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FICO® announces the rollout of their new credit score, FICO 10. They warn consumers that this scoring model will lower their FICO scores by 20 or more points if you are a heavy user of credit cards. Most consumers are concerned about their FICO scores dropping going forward. There is one BIG issue practically every reporter has failed to mention. Sarah O’Brien at CNBC highlights this issue and how it will impact you, the consumer. Great job Sarah!

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Experian™ claims it is offering consumers an opportunity to raise their credit scores. Is it real? Is it true? Experian unfortunately provides an incomplete picture of its Boost program.


Major business news outlets such as CNN Business, CNBC, and Fox Business are reporting that for many, your FICO® credit scores your lenders use are going to drop 20 points under the new FICO score calculation. This reporting is simply not true.

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No. That's not how the lender's Classic FICO scores work.


“We are doing what?” was the surprised response from a vice-president of a major credit card company. She had just discovered that her employer was providing a "consumer" credit score to their clients, while using a different "lender’s" FICO® score to approve the same company's credit cards. This vice-president wasn't even in the know. These two scores are always different. This "consumer score" creates mass confusion for all consumers when lenders use an entirely different (FICO) credit score for their credit card approvals.


Do you know when a lender's inquiry lowers your FICO scores? Or how your interest rate is determined on your mortgage? And the best loan to take out when trying to reestablish and build your FICO scores the fastest?


There are four separate home buyers purchasing the same exact home with the same sales price of $300,000, same seller concessions and down payment. Everything is the same for the four buyers except how much they eventually pay. You would think since the sales price is the same for the four buyers, they will all pay the same. They don’t. They all will pay different amounts. This unfamiliar oversight is the most costly mistake most prospective homebuyers make!


A frantic mother called me after she discovered her daughter’s FICO® scores had dropped 30 points within a few weeks and she wanted to know why. She was told her daughter’s mortgage interest rate would be almost 1/2% higher on a $325,000 loan because of her lower scores. What happen next is beyond criminal.


Credit Karma tells everyone to get their free Credit Karma "Vantage" credit scores. You think that is good. Actually, it is not. All mortgage lenders require Classic FICO® credit scores for their loan approvals, which also determine your interest rates and loan fees. Vantage Scores do not give the same precise scores mortgage lenders require from the Classic FICO Scores. That is where the problem with Credit Karma starts.