Term: credit scoring
3 found

The Ultimate Guide to Credit Scores

By Steven Shaw on 4/3/2013

The Ultimate Guide to Credit Scores

The questions from readers keep pouring in and they almost all boil down to the same thing:

“How do I improve my credit scores?” or

“What effect will this action (short sale, credit counseling, etc.) have on my credit scores?”

They can both be tough questions to answer. After all, credit scores are calculated using lots of different factors and everyone’s report — and the scores that result — are individual. But there are also common misconceptions that, if dispelled, can stop someone from spinning their wheels, or worse, doing more damage.

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FICO

More proof that Alternative Credit data is helpful to consumers and to creditors

By Steve Ely on 3/15/2013

If you're reading this post, you already know that eCredable is in the business of helping consumers prove their creditworthiness, by verifying the routine bills they pay which are not reported to the national credit bureaus.  We have created a credit rating that you can share with a potential creditor, which allows them to quickly determine your level of creditworthiness - just like they do with a FICO score.

Vantage has announced a new score which will help millions of consumers have better Vantage Scores - not better FICO scores.  But it's still progress, especially for the lenders who use the Vantage score when determining your credit risk, and what kind of terms you might be offered.  But don't get too excited.  It takes years for creditors to adopt new scores, so you'll need to be patient.

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VantageScore

How Credit Is a Marathon

By Steven Shaw on 2/6/2013

How Credit is a Marathon

In a race, the competitors start at the starting line. They line up and go, and everyone runs along the same course toward the same finish line. But what if the runners didn’t know where the starting line was? And what if they had different signs telling them where to go? You wouldn’t have a race; you would have chaos.

There is an almost overwhelming amount of information out there about credit. So one way to help simplify and streamline the information that you need to know is to think of it like a marathon — a credit marathon. Each one of us is running a type of race with our credit. Here’s what the race looks like and how you can win your event.

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