What is THE average credit score?
Last month, in what seemed like a big scoop over its rival news agencies, the Associated Press reported that, now, 25.5% of Americans have FICO scores below 600. But, the score model in that report is a new score, FICO 8 (BEACON 09), which is not sanctioned by the two big housing finance agencies, nor even the [...]
Illinois governor: Employers use credit score
The national consumer reporting agencies all state that they do not provide credit scores for employment purposes. In spite of that, as Governor Pat Quinn of Illinois signed a bill into law, he used the word “score” twice. State Senator Don Harmon piled on. Quinn (2:23): “… will not allow employers to use credit [...]
TransUnion to get new majority owner
An agreement states that Madison Dearborn Partners will acquire 51% interest in TransUnion. At least they’re not British. TransUnion press release: http://newsroom.transunion.com/easyir/customrel.do?easyirid=DC2167C025A9EA04&version=live&prid=613958&releasejsp=custom_144
Equifax: We’re the only one
From: Greg Fisher Sent: Monday, February 22, 2010 12:16 AM To: Tim Klein, vice president, public relations, Equifax Subject: credit score, FICO, Equifax, exclusivity Richard F. Smith, chairman and chief executive officer Equifax, Inc. You write, “The FICO Score is the most commonly used scoring model among lenders, and Equifax is the only major credit [...]
Wikipedia Credit Karma/FICO baloney
The 4-year mess continues. But, how long will it take the collective brain of the world to figure out this one? Genius 99.23.41.118 contributes: “Credit Karma will provide the FICO score from TransUnion for free, but will not provide the actual credit report.” But, as any idiot can see, at the “wiki” about Credit Karma: Credit Karma provides [...]