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Experian, TransUnion, and Equifax are the three credit bureaus that store credit histories on consumers. Lenders use the scores from these bureaus to determine credit worthiness when an individual applies for a line of credit. While all of these companies calculate credit scores differently, it is important to note that there are five common factors …Read More
The latest version of FICO® score, to be released this fall, will not weigh medical debts as heavily as it did in the past. FICO® has also weighed paid and unpaid collections equally but will now ignore any collections that have already been paid.Where is this change coming from? FICO® spoke with some customers who …Read More
Auto loan refinancing can save consumers thousands of dollars in the long run, but why are less than 15% of borrowers refinancing their car loan? RateWatch, a banking data and analytics company, recently released the results of a survey that shows how today’s consumers thinking about their car loans and what factors impact their decision-making. …Read More
The most widely used credit score is the FICO score. Credit scores are often called FICO scores because most credit bureau scores used in the U.S. are produced from software developed by Fair Isaac and Company (FICO). Â Your FICO Â score cannot be built or fixed overnight. Building credit is a gradual process that can easily …Read More
