Many consumers find credit scores to be complicated and difficult to understand. Due to the numerous variations of different scoring models, it can be particularly challenging. When reviewing your credit scores, it is important to recognize whether you are viewing a FICO score or a VantageScore. Additionally, if you are looking at a FICO score, … Read more
So, you’re ready to buy your first home. You check your credit on your own, review your scores, and everything seems fine. While you don’t have much credit history, you have a few credit cards and a paid-off car loan. Confident, you tell your lender you’re set to go. But when the lender pulls your … Read more
There comes a time in life when the hard work is done… you’ve paid off your home, cleared your auto loans, and are free of credit card debt. It’s a time to just time to sit back, reflect and enjoy. With no intention of taking on another mortgage, car loan or relying on credit cards, … Read more
Evergreen, Colo., August 22, 2024 – Advantage Credit Inc., a leading provider of credit reporting services, is thrilled to announce its integration with ScoreNavigator, a move that will provide another option for lenders to help their borrowers optimize their credit worthiness. “We’re thrilled to offer our customers the opportunity to use ScoreNavigator tools, which will … Read more
A lot of questions have been circulating through the industry around the proposed changes to Credit Score Models that were announced by the Federal Housing Finance Agency (FHFA) in October 2022. In March, Fannie Mae created a “Partner Playbook” that covers a lot of detail regarding the upcoming changes. The Playbook was just revised in … Read more
In this sometimes frustrating and crazy world of credit, we are always asking what we can do to help our credit score. There are a lot of actions that people take thinking it will help their credit score, when, in fact those actions can have just the opposite effect. Let’s look at a few things … Read more
Starting this month consumers with student loans can start applying for the Student Loan Forgiveness Program. This program is for federally held student loans only and does not include private student loans. Individuals who make less than $125,000 and married couples making under $250,000 are eligible for up to $10,000 in forgiveness. If the individual … Read more
One of the more frustrating aspects regarding credit reports is finding what one believes to be duplicate accounts. If the same account is reporting to all three bureaus (Equifax, Experian, Trans Union) more than once then that can mean the credit scores are taking a double hit. If the account in question is derogatory in … Read more
A “Rescore” is updating information on a credit report at the bureau level in an expedited manner. It is not credit repair, and it is not something the borrower can do on their own. The changes made through a rescore would eventually organically update at the bureau level but that can take 30+ days or … Read more
With the stimulus checks that have circulated in the last few years and people staying home more because of the Pandemic, credit card debt shrunk drastically. People were able to pay balances down and even save some money. Unfortunately, it seems that with inflation at the level it is, credit card debt is now at … Read more