The Credit Scores That Lenders Use Most
The Credit Scores That Lenders Use Most Credit for Beginners by David B. Coulter Share Share Email Not only does your credit score evolve (typically covering six-year periods) as your borrowing and payment history matures, it’s also determined by three potential sources that report varying numbers based on different types of credit scores. It’s […]
Do FICO or VantageScore Sell Scores to Lenders?
Do FICO or VantageScore Sell Scores to Lenders? Civil Penalty by John Ulzheimer Share Share Email FICO is the company that invented credit scores. VantageScore Solutions builds the VantageScore credit score, which is sold by all three credit bureaus (as are FICO’s scores) Since FICO invented them and VantageScore also builds them you might think […]
Are lenders required to report to the credit bureaus?
Are lenders required to report to the credit bureaus? Auto Loans by John Ulzheimer Share Share Email Repeat after me…There isn’t a law that requires lenders to report to the three major credit bureaus – Equifax, Experian and TransUnion. It’s entirely voluntary. And, the credit bureaus can pick and choose with whom they want to […]
Why is the FICO score used by auto lenders different than other FICO scores?
Why is the FICO score used by auto lenders different than other FICO scores? Auto Loans by John Ulzheimer Share Share Email There are many different versions of the FICO credit score. Each of the three U.S. credit bureaus – Equifax, Experian and TransUnion – has many different generations and “flavors” of the FICO score, […]
Payday Lenders Get Warning From CFPB Regarding How They Treat Servicemembers
Payday Lenders Get Warning From CFPB Regarding How They Treat Servicemembers Auto Loans by John Ulzheimer Share Share Email Payday loans are among the most expensive forms of credit available in the U.S. Unfortunately military members often take advantage of these short term, high interest loans that, when annualized, can easily run well over 100%. […]
Do Consumers Get The Same Credit Scores As Lenders?
Do Consumers Get The Same Credit Scores As Lenders? Credit Monitoring by John Ulzheimer Share Share Email The Consumer Financial Protection Bureau (CFPB) has been in the news often lately. They are they consumer protection watch dog re: the financial services industry. They released a study about credit scoring in late September 2012. This study […]
The Credit Scores That Lenders Use Most
The Credit Scores That Lenders Use Most Credit for Beginners by David B. Coulter Share Share Email Not only does your credit score evolve (typically covering six-year periods) as your borrowing and payment history matures, it’s also determined by three potential sources that report varying numbers based on different types of credit scores. It’s […]