In the world of credit reporting there are two major scoring models, the FICO and Vantage scoring models. FICO has been around since 1989, and while Vantage Score has only been available since 2006, it has become a major player in the credit industry. FICO was developed by the Fair Isaac Corporation and the Vantage … Read more
Experian Boost™ and UltraFICO™ are two products offered by Experian® to help boost a borrower’s credit score. Please be aware that these products are only available with Experian so utilizing them will have no impact on a consumer’s TransUnion® or Equifax® scores. Experian Boost allows a consumer to add payment history from accounts that do … Read more
Thanks to a 2015 settlement agreement between the New York Attorney General and the three credit reporting agencies, some important changes are on the way in regards to credit reporting. An additional agreement between the credit reporting agencies and another 31 state attorney generals ensure that the change will be nationwide. The changes are being … Read more
FICO scores can be confusing to say the least. In reality a person has many different FICO (Fair Isaac Company) scores depending on what they are applying for and the codes that are being used to pull the credit report. What about when we pull our own credit report? Are we getting real FICO scores? … Read more
One of the most misunderstood facts about FICO scores is that most consumers think they only have 3…one for each bureau. The fact is that a consumer actually has dozens of FICO scores. With the rollout of FICO 09 a consumer now has approximately 65 different FICO scores. That can sound a bit overwhelming but … Read more