Credit scores have long been determined by a nearly universal formula known as the ® * model. This model, owned by Fair Isaac, is used by over 80% of the major banks in the US, and is the familiar 300-850 credit ranking that consumers are familiar with.
Entries from November 2008 ↓
What VantageScore Could Mean for Newer or Less-Experienced Borrowers
November 25th, 2008 — Credit Bureaus, Equifax, Experian, TransUnion, VantageScore
Understanding Your FICO® * Score And Its Variances
November 10th, 2008 — Business Credit, Credit Bureaus, Equifax, Experian, Personal Credit, Trade Credit, TransUnion
The main system in place for determining credit scores is called ® *, an acronym for Fair Isaac Credit Organization, which is the company that owns this formula.
Three Key Factors Lenders Look at Before Giving You Business Credit
November 6th, 2008 — Business Credit, Business Financing, Personal Credit
Many businesses fail because they are unable to access the capital that they need to survive, particularly in the first five years of establishment when banks view them as riskier because of their age. This is also when the vast majority of businesses fail. By being aware of the factors that are weighed before lending money, you can better prepare your business to successfully attain the credit needed to not just survive, but thrive. Your personal credit score and revolving debt will be an integral part of this process, but there is more involved than just your individual financial history.
