#happylife: breaking down credit scores and tips for how to improve them

SPOKANE, Wash. – As important to your overall financial picture as they are, the folks at STCU say that credit scores are often ignored until when they are needed, and at that point it can be too late.

Your credit score is the number that lenders use to determine whether or not to give you a loan, and at what interest rate. Your credit score can fall between 300 and 850 and the higher the better, when it comes to more favorable interest […] Read more

LONDONERS ARE THE MOST CONTENT WITH THEIR CREDIT SCORES DESPITE HAVING ONE OF THE LOWEST IN THE UK

Londoners are most content with their credit scores, with a third (33%) saying they were happy the last time they checked, closely followed by the South East (31%) and the South West (28%.) Those living in the East of England are the unhappiest, with 11% saying they were not impressed the last time their checked their score. 1 in 10 of those living in the North West came in a close second when it comes to being unhappy with their credit score.

However, Equifax analysis of average credit scores across the UK[1]seems to suggest a disconnect between […] Read more

Credit Scores, Credit Reports & Credit Check Services Market 2019-2025 Research by Growth Rate, Key Vendors : Experian Equifax ,Trans ,Union Identity, Guard Identity ,Force.

Global Credit Scores, Credit Reports & Credit Check Services market research is an in depth study providing colete analysis of the industry for the period 2019–2025. To begin with the Credit Scores, Credit Reports & Credit Check Services Market report which covers market characteristics, industry structure and commutative landscape, the problems, desire concepts, along with business strategies market effectiveness.

Description: Credit Scores, Credit Reports & Credit Check Services are utilized to store short-lived items to expand the time span of usability and keep up the quality and freshness of items. Asia Pacific represented the biggest offer of the Credit Scores, Credit […] Read more

Credit scores matter — best ways to improve yours

Discover defines credit scoring as a means of distilling your relationship with debt down to a number. That three-digit score allows lenders to quickly size up the risk of doing business with you, which can have major implications on your day-to-day life. 

Credit scores come into play if you want to apply for a credit card, rent an apartment, buy a car, or switch phone providers. Pretty important elements of existing in the modern world, right?

Credit scores range from 350-850, and most lenders look for scores above 650, with preferences given to those with scores in the 700s and higher.

A low […] Read more

Shutdown could hit federal workers’ credit scores

As the U.S. government’s partial shutdown stretched into its 21st day Friday, federal workers who’ve been furloughed or forced to work without pay are scrambling to avoid getting dinged by lenders and credit-reporting agencies for skipping loan payments that could damage their credit scores. Missing just one payment on a credit card, for example, can knock up to 100 points off a consumer’s credit score, and it can take several years to recover the deficit, according to experts. 

Some lenders, including banks and auto-leasing companies, say they are making concessions to accommodate government […] Read more

Ask Brian: What Do I Need to Know About Credit Scores?

Ask Brian is a weekly column by
Real Estate Expert Brian Kline. If you
have questions on real estate investing, DIY, home buying/selling, or other
housing inquiries please email your questions to askbrian@realtybiznews.com.

Credit score questions are the most commonly asked. Here I answer a couple of the most frequently asked.

Question.
John from Green River, WY writes: Brian,
it’s been over 15 years since I’ve owned a home but I just came into some money
for a down payment and want to buy. What credit score do I need to qualify for
a mortgage?

Answer. Hi John, that might not seem like
an open-ended question but it is? Theoretically, you […] Read more

How Lenders Can Service Borrowers With Low Credit Scores

Poor credit score

There’s good news trending across the U.S. and it’s all about credit scores. According to a Washington Post article, the average FICO score is 704, which is a new record high. FICO’s vice president of scores and analytics, Ethan Dornhelm, said that Americans are “making more judicious use of credit” now that 10 years have passed since the financial crisis and housing bust.

Individuals with a FICO score of at least 704 will increase their likelihood of being approved for a mortgage. However, there’s still a chance that people with an average FICO score won’t qualify for a […] Read more

FHFA would ban VantageScore from Fannie Mae, Freddie Mac credit scores

WASHINGTON—The Federal Housing Finance Agency has proposed barring Fannie Mae and Freddie Mac from using credit scores developed by VantageScore over concern about conflicts of interest with the joint venture of Equifax, Experian and TransUnion.

The proposal is a blow to nonbank lenders that argue greater competition with FICO scores would safely open up the mortgage market to borrowers with limited credit histories.

In proposing a process to approve providers of alternative credit scores for use by Fannie Mae and Freddie Mac, the FHFA would also prohibit credit score models from any company that is connected with a consumer data provider, according […] Read more

Lending Loop and Equifax launch free credit scores for businesses

CANADIAN peer-to-peer lender Lending Loop has partnered with Equifax Canada to launch the country’s first free credit health and monitoring platform for small businesses.

The platform gives businesses and entrepreneurs access to free personal and business credit scores, reports and resources.

Lending Loop, which was Canada’s first-ever P2P lender, says […] Read more

FICO shows mortgage applicants how to improve their credit scores

A new tool offers advice for would-be home buyers hoping to qualify for affordable interest rates. (iStock)

If you’re seriously thinking about buying a home in the months ahead, you almost certainly know how important your FICO credit score will be in getting a mortgage.

And you probably know the score range you’ll need for the type of loan you want — somewhere in the low to mid-700s for a conventional mortgage eligible for sale to investors Fannie Mae or Freddie Mac, or a score in the mid- to upper 600s for a Federal Housing Administration-insured loan. […] Read more