new credit scoring system

Looking For A Loan? You May Have Better Credit Than You Think

Posted on 07/12/2012 by |Money and Work | Comments

Bulletin Today | Money & SavingsIf you’re considering taking out a loan, you could be in luck. There’s a new way borrowers may be assessed for credit risk and it could provide a more positive and accurate picture of credit behavior. And that could lead to lower interest rates on loans from cars to mortgages. With this new credit scoring system from Fair Isaac Corp. (FICO) and the data aggregate firm CoreLogic,  some 44 percent of the U.S. population (more than double) went from pretty decent to crazy good credit, …