Who Is Fair Isaac?

Credit Score

Who Is Fair Isaac?

Who Is Fair Isaac?

FICO is one of the best known names in the credit industry — it’s practically synonymous with credit scoring, despite the existence of hundreds of other scoring models. The first general-purpose credit score (Beacon at Equifax) came from FICO in 1989, effectively transforming the consumer lending landscape to heavily incorporate predictive analytics. Anyone who has… Read More

FICO, Experian Team Up Again to Offer Credit Scores to Lenders

Credit Score

FICO, Experian Team Up Again to Offer Credit Scores to Lenders

FICO, Experian Team Up Again to Offer Credit Scores to Lenders

In an effort to give financial institutions across the country access to better information about the ways in which consumers use credit, two of the biggest names in credit reporting and scoring are coming together once again. Major credit monitoring bureau, Experian, and credit scoring pioneer, FICO, recently announced a new partnership that will give the latter more access… Read More

The Secret Decoder Ring for FICO Scores

Credit Score

The Secret Decoder Ring for FICO Scores

The Secret Decoder Ring for FICO Scores

People love good spy stories! That’s why spies like James Bond and Jason Bourne have such enduring popularity. Spies rely on their wits but they also rely on cool tools like exploding pens and secret decoder rings to help them do their job. You might not be an international spy that jets from one exotic… Read More

How Credit Scores Actually Fared in the Recession

Credit Score

How Credit Scores Actually Fared in the Recession

How Credit Scores Actually Fared in the Recession

Despite large number of financial difficulties suffered by millions of Americans, new data suggest that consumers’ credit ratings haven’t taken nearly as large a hit as many might have guessed in the past. The latest data from credit scoring bureau FICO shows that the average American with a credit score in their name had a… Read More

Are Credit Scores On the Rise?

Credit Score

Are Credit Scores On the Rise?

Are Credit Scores On the Rise?

A recent FICO survey finds that lenders are predicting fewer delinquencies on mortgages, small business loans, autos and credit cards. If those predictions prove to be accurate, then consumers’ credit scores may also continue to improve. The survey, conducted for FICO by the Professional Risk Managers’ International Association (PRMIA), found fewer lenders expecting a rise… Read More

New Credit Score Could Help Millions, Eventually

Credit Score

New Credit Score Could Help Millions, Eventually

New Credit Score Could Help Millions, Eventually

The plea for credit score help was direct, almost desperate. A woman and her husband placed a “fairly large” good faith deposit on a home. But then her credit score fell from 626 to 619, just one point shy of the minimum required by the Department of Veterans Affairs to qualify for a mortgage. She… Read More

Bad Credit? Here are Some Credit Card Options

Credit Score

Bad Credit? Here are Some Credit Card Options

Bad Credit? Here are Some Credit Card Options

The past few years have been financially challenging for many consumers. If your credit took a beating during the Great Recession, you can take a little comfort in knowing that you’re not alone. Those who have bad credit are often referred to as “subprime” borrowers. Generally, if your FICO score is 650 or below, you… Read More

CFPB Study: Consumers, Lenders Not Looking at Same Credit Scores

Credit Score

CFPB Study: Consumers, Lenders Not Looking at Same Credit Scores

CFPB Study: Consumers, Lenders Not Looking at Same Credit Scores

Among the responsibilities placed on the Consumer Financial Protection Bureau by the Dodd-Frank financial reform act of 2010 was the study of credit scores—specifically, the differences between scores purchased by consumers and those used by lenders to make credit-granting decisions. Tuesday, the CFPB followed through on this mandate, releasing a report to Congress titled “The… Read More

Survey Finds Strategic Defaulters Have Good Credit

Mortgages

Survey Finds Strategic Defaulters Have Good Credit

Survey Finds Strategic Defaulters Have Good Credit

The debate over strategic default— when a homeowner with the ability to afford his mortgage decides to stop paying because his home is worth less than the loan—has largely been one of ethics. Is it morally right to walk away from a legal contract such as a mortgage? Immoral or not, new data suggests that those… Read More

Show Me More

Find out where you stand.
Get your FREE personalized credit report card.

Sign Up Now
X

Stay Connected to Our Experts

Please submit your email address to get credit & money tips & advice
from our team of 30+ experts, delivered weekly to your inbox.