FICO/credit scores directly determine the interest rate a consumer will pay for credit products. The table reveals the current rates based on score rangesSubscriberWise founder and the most successful credit scoring achiever in the worldwide history of banking and finance offers personal and professional insight Pursuing the standard of excellence – understanding the granular details of consumer credit, and credit scoring in particular, to fully maximize a credit score – well… that’s never a ‘waste of time’.”— USA Credit Czar, SubscriberWise founder, and FICO prof David E. HoweNEW YORK, NY, UNITED STATES OF AMERICA, October 15, 2018 /EINPresswire.com/ -- SubscriberWise, the nation’s largest issuing CRA for the communications industry and the leading protector of children victimized by identity fraud, announced today the additional and insightful advice regarding what has been labeled a ‘waste of time’ as it relates to … [Read more...] about United States Credit Czar: CNBC ‘Make It’ Headline Misguided and Unwise for Credit Consuming Population
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Business By Dennis Boyd / Small Business Matters | Monday, September 17, 2018, 12:05 a.m. Share this story A customer pays with a chip credit card on Feb. 16, 2016 at a Target Express store in Chicago. (Abel Uribe/Chicago Tribune/TNS) Do you know what your credit score is? This is one of the first questions I ask startup or current business owners when they come to me to talk about financing for a new business or a business expansion, and all too often the answer is “no,” or “I looked a few years ago, but I’m not sure now.” ADVERTISING Most often business owners or owner wannabees need to fall back on their own resources and credit for financing. This is where credit scores come in because even with established businesses, financial institutions are partly basing the decision on whether to loan or not on the owner’s personal creditworthiness. A credit score is a shorthand representation of one element of what … [Read more...] about Small Business Matters: Personal credit scores matter in business financing
America's Credit Czar wants to finally set the record straight and educate the ‘credit experts’ about the impact of reported balances at the time of scoring No individual has ever obtained a perfect FICO 850 score without 'carrying' a balance. In fact, among other ‘Leaves’ FICO requires both an installment and a revolving balance to achieve perfection.”— FICO Professor and SubscriberWise CEO David HoweSAN FRANCISCO , CALIF., UNITED STATES OF AMERICA, September 1, 2018 /EINPresswire.com/ -- SubscriberWise, the nation’s largest issuing CRA for the communications industry and the leading protector of children victimized by identity fraud, announced today the public challenge to CNBC’s Yoni Blumberg -- and any other financial writers who may be interested – who inadvertently misreport the information that consumers need to know about the impact of favorable utilization (low credit-to-debt ratios on credit obligations, particularly … [Read more...] about FICO Professor Howe Makes Public Challenge After CNBC’s Yoni Blumberg Misreports the Myth Dispelled by FICO’s Dornhelm
By Jeff Lazerson | [email protected] | MortgageGrader.com PUBLISHED: June 7, 2018 at 2:47 pm | UPDATED: June 7, 2018 at 2:47 pm What’s up with mortgage rates? Jeff Lazerson of Mortgage Grader in Laguna Niguel gives us his take. Rate news summary From Freddie Mac’s weekly survey: The 30-year fixed rate averaged 4.54 percent, dropping 2 basis points from last week’s 4.56 percent. The 15-year fixed averaged 4.01 percent, better by five basis points over last week’s 4.06 percent. The Mortgage Bankers Association reported loan application volume increased 4.1 percent from the previous week. Bottom line: Assuming a borrower gets the average 30-year fixed rate on a conforming $453,100 loan, last year’s rate of 3.89 percent and payment of $2,135 isWAS $172 lower than this week’s payment of $2,307. What I see: Locally, well-qualified borrowers can get the following fixed-rate mortgages at a one-point cost: A 15-year at 3.75 … [Read more...] about FICO now has competition. But will that improve credit scores?
Most consumers are aware that their FICO score is the gatekeeper to securing credit, determining the rates lenders are willing to offer on everything from mortgage loans to credit cards. For some, getting a higher FICO score is about to become much easier. That's because Fair Isaac Corp. (FICO), the company that calculates the country's most widely used credit score, said it will recalibrate its measures, including giving less weight to debt linked to medical bills. It will also stop including records of failures to pay bills if the consumer has settled with a collections agency or paid the debt. The changes come as more Americans are increasingly struggling with medical-related debt, with more than half of collections on credit reports tied to medical bills. Consumers are can be "overly penalized" for medical debt that goes into collections, as it shows up on their credit reports and lowers their creditworthiness, the Consumer Financial Protection Bureau said in May. "This is a … [Read more...] about How FICO’s new scoring could boost your score