FICO has created a new type of credit scoring tool to help lenders better evaluate credit risk in today’s shaky economy: the FICO Resilience Index. What you need to know!
When you think “credit score,” you probably think “FICO.” But it isn’t the only model on the market.
1. Aging of Negative Items in Your Credit Report Events such as bankruptcy, foreclosure, or late payments are examples of negative items that affect your credit score. These events remain on a credit file for several years. A late payment, for example, remains on a...
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