The Fair Isaac Corporation, better known as FICO, recently acquired Infoglide of Austin. Infoglide is a software company that specializes in fraud detection for businesses and government agencies. Its client list includes members of the banking, healthcare, insurance, and retail … Continue reading
The VantageScore credit scoring model has undergone some improvements, giving lenders a reported 25 percent improvement on the ability to make predictions on consumers. The new VantageScore 3.0 model also has the ability to formulate a score for the estimated … Continue reading
For the second time this week, a study by a credit agency shows delinquency rates on student loans are climbing. According to a TransUnion study, more than half of student loans are in deferred status where the loan payment has been … Continue reading
A new FICO study reveals that student loan debt has increased dramatically and the default rates on these loans are now much higher than previous years. These loans pose a greater risk now due to the higher debt loans and a … Continue reading
Credit card debt will still be the biggest financial worry for consumers in the new year, according to a new myFICO survey. The survey showed that almost a quarter of respondents said they will need more than three months to pay off … Continue reading
Mobile Apps Aim to Steer Consumer Credit Card Choices There are two new mobile apps which help cardholders select the best credit card to use at checkout. Wallaby Financial released a free app that helps iPhone users determine which card … Continue reading
FICO recently released a study that gives details about the financial habits of the 50 million consumers with the highest credit scores. FICO scores range from 300 to 850 and any score above 785 is considered very high. Approximately 25 … Continue reading
If you are close to bankruptcy, your lenders probably already know about it. Credit reporting agencies have their own formulas that predict the likelihood of bankruptcy. The general public never sees these bankruptcy scores, but they are sold to lenders, … Continue reading
They may be three simple digits but your credit score is the probably most important number in determining your financial future. Your credit score is both a representation of your payment history and a prediction of your ability to make … Continue reading
The credit score you purchase from a credit reporting agency may be very different from the score your lender sees. Lender's scoring models place nearly one in five consumers in different credit categories, according to a new report by the Consumer … Continue reading