All articles tagged with #fico score
Fair Isaac (FICO) announced a new pricing model allowing mortgage lenders to bypass credit bureaus and license scores directly to borrowers, leading to a 20% stock surge and potentially reducing credit bureau influence, while also offering more pricing options to improve economics and competition.
The Wells Fargo Active Cash Card requires a good to excellent credit score, typically at least 670, for approval. Factors such as previous Wells Fargo credit card history and credit card limits are also considered. To improve chances of approval, maintaining a low credit utilization ratio and making timely payments is crucial. Additionally, the $200 cash rewards bonus requires spending $500 within the first three months. Wells Fargo may reject applications for reasons such as inadequate credit score or having too many existing accounts.
Student loan forgiveness could temporarily lower credit scores for some borrowers, as payment history is the most important credit category. However, the majority of borrowers will see a rise in their credit scores, and those who see a dip can rebound by making on-time payments and managing their debt. To minimize the impact on credit scores, borrowers should set up reminders and automatic payments, read communications from their loan provider, consider refinancing or consolidating loans, and contact their loan servicer ahead of time to discuss options.