FICO Credit Scores

Other Names for FICO Scores

All of these scores were developed using the same methods by Fair, Isaac and have been tested to ensure they provide the most accurate picture of credit risk possible using credit report information. Each of the three credit reporting agencies has different names for FICO scores.  Equifax calls it a Beacon score, Experian calls it a Fair Isaac Risk Model and TransUnion has labeled it as Empirica.

It is recommended that you request a copy of your credit report at least once a year to check for possible errors. You can obtain a free credit report from each of the three major credit reporting bureaus once a year from www.annualcreditreport.com

 

Top 10 Reasons Used In Credit Scoring

These are the top 10 most frequently given score reasons. The exact language used by a lender may vary.

  1. Serious delinquency.
  2. Serious delinquency, and public record or collection filed.
  3. Derogatory public record or collection filed.
  4. Time since delinquency is too recent or unknown.
  5. Level of delinquency on accounts.
  6. Number of accounts with delinquency.
  7. Amount owed on accounts.
  8. Too many accounts with balances.
  9. Length of time accounts has been established.
  10. Proportion of balances to credit limits on revolving accounts is too high.
The three national credit reporting agencies are:
Equifax
 www.equifax.com
P.O. Box 740241
Atlanta, GA 30374-0241

1-800-525-6285
Experian
 www.experian.com
P.O. Box 9532
Allen, TX 75013

1-888-EXPERIAN (397-3742)
TransUnion
 www.transunion.com
TransUnion Fraud Victim Assistance Division
P.O. Box 6790
Fullerton, CA 92834-6790

1-800-680-7289

If you believe information in the report to be inaccurate you have a right to file a dispute with the reporting agency and the company that gave them the inaccurate information. For more information on settling a dispute, visit Federal Trade Commission's Facts for Consumers.

 

                                                                                                                   



                                                                                                   Terms Of Use And Disclaimer
   None of the information in this web site should be construed as legal advice. All forms policies, terms, information and procedures should be reviewed by your legal
   counsel before being used in any way.
   Site Map                                                                            FAQ                                                                                Home