by Sam | Jan 29, 2020 | Credit Scores
Fair Issac and Co., the company that created the Fico score, announced in a recent press release that they will make available their newest scoring model Fico 10 this upcoming summer. Your Fico score is one of the most important assets you have in your financial life....
by Sam | Mar 10, 2019 | Building Credit, Credit Scores, Improving Credit
What Is Piggybacking Credit? Piggybacking credit is having a third party, a credit worthy individual, add you to their credit card as an authorized user. This will allow you to receive the credit benefits from that account, helping you improve your own credit score...
by Sam | Jan 20, 2019 | Credit Scores
Experian recently announced a new program that will help consumers who don’t have any credit scores. The program is called Experian Boost. Until now utility bills and phone bills payments were not counted into the scoring models. This was affecting a lot of consumers...
by Sam | Dec 16, 2018 | Credit Cards, Credit Maintenance, Credit Scores
Credit Utilization Credit utilization is one of the big factors that credit scoring models look at. Credit utilization is calculated by your current balance verses how much percent of your available credit or credit line was used. The higher the percent of your credit...
by Sam | Nov 5, 2018 | Credit Scores
Which Factors Does Fico Use To Calculate Your Credit Score In this day in age, where transparency is at a very high level, it may sound very shocking to you, but the formula for the Fico scoring model (a scoring model which is used in 90% of mortgage-lending...
by Sam | Sep 2, 2018 | Credit Scores
Traditional Fico scoring models only factor in information found on a consumer’s credit report. A traditional Fico score can only be generated if the consumer has at least one recent trade line that is open for more than six months on his credit report. This approach...
