20% Off Suze Orman’s FICO Kit Platinum
In January, I was looking for an inexpensive way to view both my credit reports AND my credit scores since we were looking into refinancing our mortgages (we still are btw). I saw Mighty Bargain Hunter on my IM and asked him for some advice. Luckily, he happened to know of a 50% off code for any MyFico product. I chose the Suze Orman’s FICO Kit Platinum
package, which normally runs $49.95. Unfortunately, that code has since expired, but I now have a 20% off code for Suze Orman’s FICO Kit to knock off almost $10 off the price:
20% off Suze Orman FICO Kit; use promo: SUZEFKP
What is Suze Orman’s FICO Kit?
The FICO Kit has a wealth of tools that can both help you understand your credit situation more as well as fix credit report problems and get your finances in order.
Error Detection and Correction
After reviewing my report and seeing a few errors regarding former employers, addresses and some missing information, I went through the error detection and dispute section to automatically create a letter to the credit bureau to correct my credit history. For me, they were just minor errors, but some of you might have some pretty nasty records that should be expunged or fixed. If you don’t know how to write a letter to a credit bureau, then their tool does it for you.
Debt Eliminator
I played around with the Debt Eliminator a bit, but didn’t try out all the features. We pay off our cards each month, but right now we have about $11,500 remaining on a Citibank card from when I got a balance transfer. I stuck the money in the bank and have been earning interest on it. It’s due in early March, and I’ve already moved the money over to my checking to pay it off.
The report does pull amounts straight over from your credit file, but you need to plug in your current interest rates (since your file doesn’t show that). Based on your credit score, it checks if you’re paying too much interest and then helps you negotiate a lower interest rate. I tossed in some relatively low interest rates (0% to 6%) and it told me I’m paying appropriate rates for my score. It does tell me, though, that if I make the minimum payments on my current CC debt, I won’t pay it off until 2019! Dang! Good thing I have control over my credit card debt now!
Keep an Eye on Your Mortgage (Simulator)
Since we don’t have a standard 30-year fixed rate mortgage, I decided to try out their mortgage section. I typed in my loan type (5/1 interest-only loan), balance, start date, rate cap, and some other information and out popped a simulation that shows what could happen in various rate forecast. For instance, right now my mortgage payment is around $1,400 (for the first mortgage, without tax/insurance). Looking at a “medium increase”, my payment could double by 2016. It explains where it gets its information, and lets you try small, medium, large increases, no change and a small decrease. With No Change, since my loan changes from interest-only to principal + interest after 10 years, I get to see what happens to my payments then. Pretty cool.
InfoVault
Since I worry about Stacie not having the financial information if something were to happen to me, I’m very interested in MyFico’s “InfoVault”. Since they already have all your credit information, you don’t need to retype it all fresh. You can update the information for what’s already there, as well as add bank accounts, insurance policies, doctor and medical info and a few other vital details.
If you’re interested in getting this kit, use the following link and code: 20% off Suze Orman FICO Kit; use promo: SUZEFKP
FICO Simulator
MyFico also has a simulator that lets you see what would happen to your credit score if you were miss a payment, pay off a loan, and any number of other events. I haven’t tried out this feature yet, but here’s the verbiage from their site:
The FICO Score Simulator shows how your score can change when you:
- Pay your bills on time for many months
- Miss a payment
- Pay down your debt balances right away or every month
- “Max out” your credit cards
- Get a new mortgage
- Get a new auto loan
- Get a new credit card
- Get instant credit at a department store
- Apply for a new credit card and transfer balances to it
- Declare bankruptcy
Other Information
- Active for one year after purchase
- Online product no CD-ROM included
20% off Suze Orman FICO Kit; use promo: SUZEFKP