There is a fight going on with credit scores. It is the FICO credit score against the big three credit bureaus. Read on for details.
FICO, Fair Isaac Company, is the creator of a system to give consumers a credit score. A credit “score” simply assigns a number to indicate how much risk you pose as a borrower. Fair Isaac’s formula for scoring is the one lenders have chosen to use as they like it the best.
The three big credit bureaus are Equifax, Experian and TransUnion. They are private companies that each track your accounts, balances and payment habits which make your credit report. They recently worked together to make a new credit score call VantageScore.
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There is a fight going on with credit scores. It is the FICO<\/span> credit score against the big three credit bureaus. Read on for details.<\/p>\n\n\t <\/p> FICO<\/span>, Fair Isaac Company, is the creator of a system to give consumers a credit score. A credit “score” simply assigns a number to indicate how much risk you pose as a borrower. Fair Isaac’s formula for scoring is the one lenders have chosen to use as they like it the best. <\/p>\n\n\t <\/p> The three big credit bureaus are Equifax, Experian and TransUnion. They are private companies that each track your accounts, balances and payment habits which make your credit report. They recently worked together to make a new credit score call VantageScore.<\/p>\n\n