Sentences with phrase «specific fico»

In addition to the FICO Score 8, ECS may offer and provide other base or industry - specific FICO Scores (such as FICO Auto Scores and FICO Bankcard Scores).

Industry - specific FICO Scores range from 250 - 900.

While the industry - specific FICO Auto and FICO Bankcard Scores are judged on scales that run from 250 to 900, the base FICO Scores have a smaller range of 300 to 850.

Industry - specific FICO ® Scores are grounded in the same algorithm as base FICO ® Scores, but are tweaked to provide lenders a further - refined credit risk assessment tailored to the type of credit the consumer is seeking.

FICO ® Score versions can be broken down into two major categories: «base» FICO ® Scores and industry - specific FICO ® Score versions.

Industry - specific FICO ® Scores help lenders more accurately assess the risk on a specific type of credit obligation, such as car loans or credit cards.

Industry - specific FICO ® Scores incorporate the predictive power of base FICO ® Scores while also providing lenders a further - refined credit risk assessment tailored to the type of credit the consumer is seeking.

However, because FICO scores are used in the vast majority of financial decisions, like loans, credit cards, renting and home purchasing, if you are planning on making any significant life change, it is best to obtain your specific FICO score.

Auto lenders, for instance, often use FICO ® Auto Scores, an industry - specific FICO Score version that's been tailored to their needs.

It might be an industry - specific FICO score (e.g., for a credit card or auto loan).

Today, each of the big three credit bureaus generates base FICO Scores and industry - specific FICO Scores — scores based on information provided by data furnishers and compiled into credit reports.

Currently, there are two kinds of wholesalers who offer two very different types of credit reports: industry - specific FICO ® score providers and FAKE - O ™ score providers.

When we refer to this credit report / score being «weighted,» we mean that mortgage - specific FICO ® software evaluates how you have treated your past mortgages.

The wholesaler's software pulls your credit profile data from the three national credit bureaus and applies the mortgage - specific FICO ® scoring software to your credit profile data and then delivers a mortgage credit report and the accompanying mortgage scores.

Unless the mortgage or loan is backed / insured by the government, each lender has the right to pick which specific FICO ® scores must be used.

In many cases, these scores will be in the same neighborhood as your industry - specific FICO scores.

Your report from myFICO.com will include your FICO 8 Score, along with additional industry - specific FICO scores.

Important: There are many factors that Wells Fargo looks at to determine your credit options; therefore, a specific FICO ® Score or Wells Fargo credit rating does not necessarily guarantee a better loan rate, approval of a loan, or an automatic upgrade on a credit card.

Credit scores generally range from 300 — 850, but industry specific FICO scores can range from can range from 250 -900.

For $ 29.95 a month, you can get access to your TransUnion, Experian and Equifax FICO scores plus industry - specific FICO scores for mortgages, auto loans and credit cards — up to 28 different FICO scores at once.

Industry - specific FICO Scores range from 250 - 900.

Not exact matches

In general, FICO scores range from 300 to 850, but certain scores designed for specific types of lenders — such as auto lenders and mortgage lenders — have a range of 250 to 900.

They'll say they need to make sure you «actually qualify» or that you're eligible for a specific mortgage program such as the three - percent down Conventional 97 program which mandates a minimum FICO.

When you purchase your FICO score from myFICO, you can get your FICO Score 8 from all three credit bureaus, as well as a number of industry - specific scores.

They'll say they need to make sure you «actually qualify» or that you're eligible for a specific mortgage program such as the three - percent down Conventional 97 program which mandates a minimum FICO.

Your FICO credit score is affected by five specific factors, one of which is your credit utilization.

Both FICO and Vantage offer these mortgage - specific equations.

For other purposes, your FICO Score 8 may not appropriately predict your likelihood of not paying as agreed in the future of a specific credit obligation.

There's the FICO Score, Vantage Score and even scores geared toward specific purchases such as an automobile scoring model.

The FICO ® Score 5 based on Equifax data that is being made available to you through this program is the specific score that we use to manage your account.

Your FICO score takes into account how long your credit accounts have been established, including the age of your oldest account, the average age of all your accounts, and the age of specific types of accounts (student loans, car loans, etc..)

The total balance owed, the number of accounts with balances, and how much available credit you're using are some of the specific factors your FICO score considers.

The specific formula used to calculate your FICO score is a well - guarded secret, but maintaining a good debt - to - credit ratio is an effective way to boost this category's contribution to your credit score.

Get access to FICO ® Score 9 — the newest FICO Score version — auto - specific versions, credit - card - specific versions and a FICO Score version often used in mortgage lending.

For borrowers of all FICO scores, the best way to improve your credit rating is to understand the factors that make up your FICO score, and to take specific actions that can make a positive impact on your score.

Flexible and alternative credit: FHA guidelines do not require a specific credit score for loan approval, although borrowers with FICO credit scores of less than 580 may soon be required to put 10 % down.

There are also industry - specific credit scores that use the FICO algorithm such as mortgage scores, auto scores, and bankcard scores, among others.

These are scores similar to base FICO ® Score versions but tailored for a specific type of credit such as an auto loan or credit card.

FICO uses sophisticated modeling and software to create scores for specific forms of borrowing, including car loans, credit cards and mortgages.

Then there are non-traditional industry enhanced credit scores such as auto - enhanced, mortgage - enhances and bankcard - enhanced all use different versions of FICO scores tailored to their specific needs.

Mostly because FICO has created industry - specific scores that give more weight to previous loans that are similar to the new one you are applying for.

The Reset Loan features competitive fixed rates, multiple repayment options and clearly defined underwriting criteria, including required FICO scores for specific rates.

The typical FICO score ranges from 300 to 850, but some FICO scores designed for specific types of lenders use a range of 250 to 900.

There are also lender - specific scores, such as a FICO scoring model optimized for auto lending.

However, since each bureau's VantageScore is based on slightly different data (whatever is available in the specific agency's report on you), VantageScores vary — as do FICO scores.

Additionally, even FICO offers variations of its scoring algorithm that focus on specific types of debt, such as weighting factors related to mortgages for home loan applications, and other changes.

There are additional variations based on specific loans, like auto financing, that may use another variation of the FICO Score not listed here.

My question is, do the FICO algorithms believe that people with 0 % credit card utilization represent an increased risk based on something specific about people in this category?

Similarly, most large banks also develop their own scoring model to suit their specific needs, usually in conjunction with FICO.

A FICO score is a specific type of credit score administered by the Fair Issac Corporation that considers the same factors as many of the major credit bureaus, in addition to a potential borrower's credit report to arrive at a numerical evaluation of their «creditworthiness» or likelihood they they'll be a low - risk borrower for the lender to take on.