6 Recurring Expenses That Don’t Help Your Credit Score

Credit Score

6 Recurring Expenses That Don’t Help Your Credit Score

6 Recurring Expenses That Don’t Help Your Credit Score

Isn’t it ironic how you can have an excellent payment history but poor credit? Your credit score is one of the most prized possessions in your financial profile, and a low score can be very detrimental to your financial well-being when you need to borrow money. It doesn’t help when you desperately want to improve your score, but are in… Read More

A Roadmap to Better Credit Scores

Credit Score

A Roadmap to Better Credit Scores

A Roadmap to Better Credit Scores

I’m often asked about the best ways to improve a consumer’s credit scores. Is it by paying bills on time or is it better to pay off credit card debt? Or, is it by avoiding any new, unnecessary credit?  The answer, of course, is that all of those factors are important to achieving and maintaining… Read More

What Really Influences Your Credit Score?

Credit Score

What Really Influences Your Credit Score?

What Really Influences Your Credit Score?

It seems like a very straightforward question that deserves an equally straightforward answer, but the biggest credit-scoring question consumers want answered is anything but simplistic. Consumers want to know, of course, “What influences my credit score?” The short answer is: Your credit behaviors reflected in your credit files at the three largest credit reporting companies… Read More

The Ultimate Guide to the New VantageScore

Credit Score

The Ultimate Guide to the New VantageScore

The Ultimate Guide to the New VantageScore

When looking for your credit scores, you may have seen VantageScore and wondered what it is, and if it’s different from other scores. Actually, there are some key differences in the VantageScore, and it’s helpful to you, the consumer, to know what they are, as well as what the score means in general for you…. Read More

Is VantageScore’s New Score Range Good for Consumers?

Credit Score

Is VantageScore’s New Score Range Good for Consumers?

Is VantageScore’s New Score Range Good for Consumers?

Last week, VantageScore, the 7-year-old credit scoring company owned by the three major nationwide consumer credit reporting agencies (CRAs) — Equifax, Experian and TransUnion — took a big step in the direction of making credit scores easier for consumers to understand, as it abandoned the score range of 501-990 it has used since inception. With… Read More

3 Big Changes Coming to Credit Scores

Credit Score

3 Big Changes Coming to Credit Scores

3 Big Changes Coming to Credit Scores

Consumers want credit scores that are fair. Lenders want to know that the credit scores they use do a good job of predicting whether people will pay their bills on time. And those two goals sometimes seem to be at odds, at least judging from comments we hear from consumers about their scores. Consider these… Read More

Did Credit Scores Just Get Fairer?

Credit Score

Did Credit Scores Just Get Fairer?

Did Credit Scores Just Get Fairer?

In a move that could have a wide-ranging impact on both the credit scoring business and the availability of credit to consumers, VantageScore Solutions today announced the latest version of its credit scoring model. The company says that the new model, called VantageScore 3.0, has the ability to generate credit scores for tens of millions… Read More

Will These States Lead the Housing Recovery?

Mortgages

Will These States Lead the Housing Recovery?

Will These States Lead the Housing Recovery?

We’ve been inundated with news stories about the housing market recovery, along with a few counter-arguments by skeptics who think we still have a long way to go. These analyses tend to focus on prices, sales or new homes built. While those figures are important, they often leave out an important factor: credit. To buy… Read More

FICO v. VantageScore: 5 Differences You Should Understand

Credit Score

FICO v. VantageScore: 5 Differences You Should Understand

FICO v. VantageScore: 5 Differences You Should Understand

It’s been seven years since VantageScore (Vantage) appeared on the credit scoring scene to challenge Fair Isaac Corporation (FICO), following years of FICO’s dominance that led to its credit bureau risk scores becoming the industry standard for lenders making prescreened credit offers, approving or denying applications for new credit, and managing their existing credit accounts…. Read More

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