Sentences with phrase «than their credit scores indicate»

Our hypothesis was and is that many borrowers are better than their credit scores indicate, simply because their scores don't factor in their previous borrowing successes.

That's prompting some financial institutions to compete more fiercely for consumers who are more worthy of credit than their credit scores indicate.

Not exact matches

A new or recent open date typically indicates that it is a new credit obligation and, as a result, can impact the score more than if the terms of the existing loan are simply changed.

Although the weight of each loan varies between individuals, FICO indicates that defaulting on a larger installment loan like a mortgage will damage a credit score more severely than defaulting on a smaller revolving loan.

A drop in the average auto - loan credit score would indicate lenders are loosening their credit qualifications for auto loans and lending to borrowers with less than perfect credit.

That by itself can indicate a pattern of nonpayment, which can have an even more disastrous impact on future business dealings than an impaired credit score.

Similarly, rate shopping that goes on past that relatively short 30 - day window can also have a greater negative impact on your credit score, as that indicates that you're looking at taking on more debt than just a single loan.

This shows you are more responsible with money than your credit score may indicate and is something lenders consider.

They may prefer to do that than lose a cardholder of two decades who pays her bills on time, as your credit score indicates.

«Fewer first - time buyers (40 percent) compared to a year ago (45 percent) indicated that the mortgage application and approval process was somewhat or much more difficult than they expected,» says NAR President Tom Salomone, broker / owner of Real Estate II Inc. in Coral Springs, Fla. «Those with healthy credit scores and manageable or little debt should talk to a lender to see if they qualify.