[sg_popup id=”1″ event=”onload”][/sg_popup] Adjustment in the credit score formula, What you need to know! This week, VantageScore Solutions announced the completion of VantageScore 4.0, its fourth-generation credit score. VantageScore, a rival to FICO(Fair, Isaac and Company), has experienced rapid growth and supplies the credit score used by most leading free credit score sites, including CreditKarma. Due...Read More
[sg_popup id=”1″ event=”onload”][/sg_popup][sg_popup id=”1″ event=”onload”][/sg_popup] The math behind your credit score is getting an overhaul, with changes big enough that they might alter the behavior of both cautious spenders as well as riskier borrowers. Most notably for those with high scores: Abiding by the golden rule of “don’t close your credit card accounts” may now...Read More
[sg_popup id=”1″ event=”onload”][/sg_popup] Here’s Why Your FICO Credit Score Could Be Going Up Soon In a move that is likely to boost many people’s credit scores, all three major U.S. personal credit monitoring firms are going to remove tax liens and civil judgments from credit reports. Equifax (efx, +0.69%), Experian (expgy, -0.51%) and TransUnion are...Read More
There are three major credit bureaus: Experian, Equifax and TransUnion. Each collects information on your credit history which is culled into a credit report. From that report, a credit score is derived. That score is a quick way for lenders to assess how risky you are as a potential borrower. The higher your score, the...Read More
How my FICO Scores are calculated FICO® Scores are calculated from many different pieces of credit data in your credit report. This data is grouped into five categories as outlined below. The percentages in the chart reflect how important each of the categories is in determining how your FICO Scores are calculated. Your FICO Scores...Read More
[sg_popup id=”1″ event=”onload”][/sg_popup]Once you have a low credit score, life can become a lot more expensive. Getting approved for a mortgage or credit card with a score below 650 can be challenging. Even if you are approved, the interest rate will be shockingly high. In most states, even your auto insurance premium will be higher...Read More
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