With the credit crunch going on, there doesn’t seem to be much good news regarding people and their credit cards. Many people burned by the credit markets are afraid to buy anything on credit. The savings rate by the American people is the highest in 20 years. Despite the alarming news, there [...]
Entries Tagged as 'FICO'
Should I Ditch My Credit Cards?
November 4th, 2009 · No Comments · Credit Cards
Tags: credit account·Credit Cards·Credit Crunch·Credit Score·Economic Crisis·emergencies·FICO·FICO scoring model·home equity·Mortgages·savings rate
Many Mortgage Lenders Have Yet to Adopt FICO 08
September 16th, 2009 · 1 Comment · Credit Bureaus and Scores, Credit Reports
When Fair Isaac Corporation (FICO) rolled out their “new and improved” FICO 08 credit scoring model last year, hopeful consumers with single derogatory incidents on their reports anxiously awaited the possibility of improved credit scores under the new system. The updated scoring model, developed in part in response to the subprime mortgage crisis, minimizes the effect of small, missed payments listed in [...]
Tags: credit delinquencies·Credit Scores·credit scoring systems·FICO·FICO 08·Mortgage Loans·new FICO scoring system·scoring models
FICO Study Shows Most Consumer’s Credit Scores Unaffected By Credit Line Reductions
September 3rd, 2009 · 2 Comments · Credit Bureaus and Scores, Credit Cards
If anybody should know what does and does not significantly affect a consumer’s credit score, it should be FICO. So why in the heck did they need to do a study to evaluate how many people out there are losing points on their score due to circumstances that are out of their hands?
The answer is [...]
Tags: Affect of Credit Limit Reduction on Score·Credit Card Limits·Credit Limit Reduction·Credit Scores·Credit Utilization·FICO·FICO scores·FICO study
