Posts Tagged ‘ credit score ’

Unlock Your Credit: Know Your Plastic

Understanding some fundamental principles about credit cards will help your customers choose the best ones to carry in their purses or wallets. There are three key issues to consider. First, is the account reported to Experian and the other national credit reporting companies? Second, is the account secured or unsecured? Third, what is the individual’s association with the account? There are a number of different types of accounts for which a card may be issued. However, the account associated with the card must be reported to Experian in order for it to appear in a credit history and be included in credit score calculations.[ READ MORE ]

VantageScore – Lenders Look At More Than Your Credit Score

VantageScore® helps consistently measure a consumer’s creditworthiness across all bureau platforms. The majority of lending decisions are based on custom scores developed and owned by individual creditors. Financial institutions view these custom scores as intellectual property, and they are rarely, if ever, disclosed to consumers. There also are various third-party scores that lenders use in the underwriting process that are implemented differently to assess a consumer’s creditworthiness.[ READ MORE ]