credit score

New risk score for credit decisioning was launched by TransUnion & ID Analytics

June 24, 2010 - 3:56am | News | Plastic cards

TransUnion in association with ID Analytics have launched a new credit risk scoring system dubbed ID Analytics Credit Optics Plus. The companies say that the new system examines conventional measures of creditworthiness, willingness and ability to pay, in combination with a new dimension, stability, in a single solution.

credit decisioning | credit score | ID Analytics | risk score | TransUnion

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Citi helps students to better manage student loans

November 23, 2009 - 11:08am | Banks and internet banks | News

The Student Loan Corporation (SLC), a subsidiary of Citibank, N.A., and a leading originator of student loans, has launched a comprehensive set of online repayment tools and calculators on its website, www.studentloan.com, to assist consumers in successfully managing and repaying their student loans. Given the challenging economy and job market, borrowers’ understanding of their responsibilities and monthly loan payments is crucial for maintaining a good payment history and credit score.

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Bad credit score can help you find better job

July 23, 2009 - 11:30am | Analytics | News

The global financial crisis has brought numerous implications that had an adverse impact on many spheres of our daily life. Customers found themselves strapped in using credit, homeowners lost their houses, companies went into bankruptcies and many employees lost their jobs. Interestingly these problems have become a part of a vicious circle with many interlacements between each other.

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Do you plan to buy a car? Check out your FICO Score

June 17, 2009 - 9:01am | Analytics | News

A new scoring system which is revealed by FICO will be applied to people who plan to purchase a vehicle. According to Tom Quinn, FICO’s vice-president of scoring, while initial lenders of auto loans will start using it in several weeks, a credit bureau, such as TransUnion, began making the new scoring system available in March of 2009. Press-releases of FICO state that new system will identify 5 to15 % more potential delinquencies.

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What are Americans doing with all that money?

May 27, 2009 - 8:50am | Figures | News

The credit bureau has reported that during the period of third quarter of 2008 and the first quarter of 2009 average TransUnion credit score has dropped 6 points to 65, as more consumers are trading off their credit scores to pay bills.

Ezra Becker, a director in TransUnion's financial services group, stated she didn’t expect credit scores to improve. Nonetheless, they could drop further throughout the second quarter of 2010, she said.

Credit card | credit score | get a loan | pay bills from credit card

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Why can credit card cancellation damage your credit score?

April 22, 2009 - 11:14pm | Analytics | Articles

If you want to make your financial life easier and stop accumulating debt, cancelling your credit cards seems a good idea. Why have all these accounts open if they are tempting you to spend more and more money? But keep in mind that closing your accounts may actually lower your credit score.

credit card cancellation | credit cards | credit score | FICO score | identity theft

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What types of credit scores do you know? Learn it here!

April 17, 2009 - 4:03pm | Articles

How many types of credit score do you know? One? Two? Actually, their number is much greater. Besides the well-known FICO scoring system, there are dozens of credit scores developed by the credit bureaus, insurance companies and even some lenders. They may differ because they are based on different scoring algorithms.

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How to avoid bad credit if you have become unemployed?

March 5, 2009 - 1:56pm | Analytics | Articles

It is obvious that the economy is getting worse. The Federal Reserve has stated that the "economic conditions deteriorated further" in the period from January 2009 to February 2009. Slow economic activity strains the budgets of many businesses, leading to mass job cuts and hiring freezes.

credit repair | credit score | debt | job loss | monthly payments

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New ScoreTracker tool to help consumers retain their credit score

March 5, 2009 - 10:27am | News | Plastic cards

In a tightening credit environment when the financial institutions are severing their terms when providing loans to consumers a credit score becomes an urgent issue as long as today even those cardholders ‘who have never missed or been late on a payment to a creditor can be denied the financial services they need if they don’t stay on top of their credit scores and correct mistakes when they occur’, says Bruce Cornelius, chief marketing officer, CreditReport.com.

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Good credit score of a consumer cannot prevent credit limit cuts

March 4, 2009 - 3:56am | News | Plastic cards

In the fourth quarter of 2008 about 45% of U.S. banks reduced their credit limits for new or existing credit card holders and the financial institutions continue to further tighten and severing conditions for their customers. Irrespective of the credit score of a consumer American Express, Chase and Citi are cutting credit limits.

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How can a bad credit score affect you?

February 16, 2009 - 2:25pm | Analytics | Articles

Have ever been turned down for a credit card or a loan? Charged a higher APR or increased mortgage payments? The reason can be obvious: your bad credit score. It affects whether you can get credit and how much you will pay for credit cards, loans or mortgages. A bad credit score also leads to restrictions in other aspects of life, including the ability to rent an apartment and get a job. That’s why knowing and understanding your credit rating is a necessary part of your financial health.

bad credit | credit bureaus | credit report | credit score | FICO score

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