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!


When you look at a credit report online at one of the many “free” websites, do you think you are seeing all the information found in your lender’s credit report? Are the credit reports the same or are they different? If they are different, what information is missing from those free online credit reports? To let you know, the credit reports found online are vastly different than the ones lenders use. A credit report found online is called a “consumer credit report” while a “lender’s credit report” is one used by lenders. You need to know the differences. Knowing what is in your lender’s credit report gives you accurate and real time information. The free consumer online credit reports give you a partial glimpse of your lender’s credit report – it does not give you the same information found in your lender’s credit reports. The more important question is; where can you get access to your lender’s credit report and review it?


No one wants to have a late payment show up on his / her credit report. Nevertheless, it happens. Due dates or recent charges are easily forgotten and before you know it, a 30-day late payment appears on your credit report. Your FICO® credit scores suddenly decline and you are left wondering, “Following a late payment, why does one FICO score for one consumer drop a lot more than another consumer's FICO score.”

There are a few credit scores improvement programs available to consumers. Which program is better for you? Which credit score improvement program offers superior results. At the midyear of 2020, My Credit Plan exceeds other programs such as Experian's Boost. Let's take a look.

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Several months ago, I addressed the biggest mistake most homebuyers make. This mistake costs many homebuyers thousands of dollars. You can click on that blog here:   There is another – the second biggest mistake - that most homebuyers make. It is nearly as costly as the first one. It is following incorrect advice from those (mainly loan officers) that really do not know the correct answers to your credit situation. It is sometimes innocent, but it also involves laziness and a "how dare you question me!" type attitude prevalent among lenders. It is your money and don’t you want to fight for a lower monthly mortgage or auto loan payment? In most cases, lenders will not do it. This hidden, but substantial problem, costs many homebuyers thousands of dollars.


There is one issue that lowers your FICO scores for as long as a Chapter 7 bankruptcy – up to ten years. It is not a late payment, a judgement, or a tax lien. It has nothing to do with utilization ratios or on-time payments. What is it?

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Discover card advertises to check your FICO score and review their “Credit Scorecard” on the Discover Card website. They say it is for free – which is enticing for everyone. The ad says that FICO scores are used by over 90% of lenders. However, this is where Discover Card deceives consumers.


When you cry “Fire”, you expect there is a fire. When you cry “Wolf”, you expect a predator is coming. The VantageScore created a major crisis this week that reached all the way to the White House. Unfortunately, there was no crisis, no fire, no wolf. It was all about nothing. This is a big one. Congratulations Vantage Score, you got millions of consumers excited and upset all about nothing. Nothing!


David increased his FICO score 85 points in just 23 days while refinancing his mortgage. This increase saved him $2,909 on his refinance. How did he do it?


Janet had to increase her mid-FICO® score three points to qualify for a mortgage. Her Equifax FICO score was 646, her Experian FICO score was 637, and her TransUnion FICO score was 631. She opened a new account that lowered her TransUnion FICO Score to 627, while also raising her Experian FICO Score to 643. (Her Equifax FICO Score stayed unchanged), She now qualified for a mortgage with her 643 mid-FICO Score. Why are your 3 FICO Scores different? This is a very good question.

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2020 has seen strong results for new clients of My Credit Plan (MCP). Average score improvement for those enrolled during the first quarter of 2020 (from January 1 to March 31) is 29 FICO® points higher. This continues to lead Experian’s Boost® (12 points average increase) and Creditxpert® (27 points point increase). 