The information provided on this website does not, and is not intended to, act as legal, financial or credit advice; instead, it is for general informational purposes only. Information on this website may not be current. This website may contain links to other third-party websites. Such links are only for the convenience of the reader, user or browser; we do not recommend or endorse the contents of any third-party sites. Readers of this website should contact their attorney, accountant or credit counselor to obtain advice with respect to their particular situation. No reader, user, or browser of this site should act or not act on the basis of information on this site. Always seek personal legal, financial or credit advice for your relevant jurisdiction. Only your individual attorney or advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this website or any of the links or resources contained within the site do not create an attorney-client or fiduciary relationship between the reader, user, or browser and website owner, authors, contributors, contributing firms, or their respective employers.
Credit.com receives compensation for the financial products and services advertised on this site if our users apply for and sign up for any of them. Compensation is not a factor in the substantive evaluation of any product.
The data — furnished by CoreLogic, which unveiled an alternate version of the traditional credit report back in December — includes rental history, property records and public record tax lien information and data on short-term lending, such as payday loans. FICO is providing the analytics.
“We felt [the score] was important because of where we are in the economic cycle and how tight credit has gotten,” Joanne Gaskin, FICO’s Senior Director Scores Product Management and Mortgage Practice Leader, says. She explains the score is intended to address unknown risk and could prevent consumers from getting turned down simply because there is not enough information available regarding their credit history.
[Credit Score Tool: Get your free credit score and report card from Credit.com]
Gaskin says Experian has yet to agree to furnish data. (Their lack of participation is probably related to the bureau’s recently unveiled Extended View score, which incorporates similar data in an attempt to help consumers with thin files secure loans. FICO competitor Vantage Score provides the analytics.)
FICO says the score was developed following conversations with lenders and is optimistic it will be embraced by the lending community.
“We do have a number of clients who are getting ready to go into a testing or validation phase,” Gaskin says.
[Free Resource: Check your credit score and report card for free with Credit.com]
Image: mike.wilson, via Flickr
March 7, 2023
Credit Score
January 4, 2021
Credit Score
September 29, 2020
Credit Score