FICO Offers a New Way to Improve Your Credit Score
There are numerous credit score reports made from consumer behavior generated from their credit reports. FICO has launched an opt. in credit score. For a consumer there has always been a way To improve the credit score by paying bank fees and bills regularly, regularly repayment of the loans, keeping the credit card balance low and not going over the credit card limits.
Now consumers are also given the permission to incorporate positive financial data to their FICO credit score. The new score is called UltraFICO score and was made by partnership between Experian and Finicity.
The new score allows consumer to report saving accounts, investments, saving for retirement and similar positive actions that improve their credit score and imply that the user is saving for his own future, retirement. Consumers in that case provide permission for Experian and Finicity to check their bank statements and accounts.
The goal is to provide the improved credit score for Americans in the uper 500s and lower 600s CS to easy their access to credit, because of the limited credit history or lower score due to the divorce, bankruptcy or foreclosure. This new pilot programm will open in early 2019 and will be widely available to lenders in mid-2019.