Sentences with phrase «manager at credit score»
As John Ulzheimer, a credit specialist and former manager at credit score provider Experian, said, «Just because the lien or judgment information has been removed and someone's score has improved doesn't mean they'll magically become a better credit risk.»
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Make a $ 450,000 home loan with 3 % down to a couple making $ 35,000 a year working at Starbucks; already burdened with $ 90,000 in student loans, $ 20,000 in credit card debt and FICO scores of 610, after they tell the loan officer they make $ 120,000 as senior managers of a large multi national corporation When they default on the home loan, file bankruptcy to discharge student and credit card debt and start living in section 8 housing, you now have a new brother and sister.
If you want a FICO score of 800 or above, you should aim for a «debt - to - limit ratio» of no more than 10 %, says John Ulzheimer, president of consumer education at CreditSesame.com, a credit - management site, and a former FICO manager.
To more accurately gauge your risk of nonpayment, the widely used FICO scoring model not only looks at overall debt in comparison to total credit limits, «the scoring formula also looks at utilization on the individual cards that make up the overall utilization percentage,» says Barry Paperno, consumer operations manager at myFICO.com.
Credit checks are pretty standard these days for landlords and whether you're renting from a property manager or directly from the owner, they're likely to take a peek at your score.
The standard for scoring is 300 being the worst score that puts you at the highest risk because you are not able to manager credit.
The new score will likely be adopted by credit - card and auto lenders first, says John Ulzheimer, president of consumer education at CreditSesame.com and a former Fair Isaac manager.
More than 45 FICO scores are available to lenders, says John Ulzheimer, president of consumer education at SmartCredit.com, a credit monitoring site, and a former manager at FICO.
Even if they have a stellar generic score, their auto score can be lower if they missed a car loan payment or never had a car loan, which could leave them with a higher interest rate than expected, says Barry Paperno, a credit expert at Credit.com, which tracks consumer credit issues, and a former manager at FICO.