It’s no secret that having great credit comes with plenty of opportunities. Conversely, those who have a credit score that isn’t so stellar might encounter difficulties they otherwise wouldn’t. The good news is that there are alternative lenders that are more accommodating when it comes to financing. Wondering if these lenders check credit scores? Let’s take a look.
READ MOREHave you recently applied for a credit card, or an auto loan at a large bank, only to be turned down because of poor credit?
READ MOREWith access to what seems to be an infinite amount of information, it’s is easy to understand why online lenders are choosing to utilize alternative data to screen their applicants.
READ MOREErrors on credit reports that go uncorrected can negatively impact consumers in many ways. For instance, consumer credit reports are essential to securing a loan for major purchases, such as a home or a car.
READ MOREMaintaining an excellent credit score is hard work, but it’s about to get more challenging
READ MOREIdentity theft is a persistent problem for consumers. The scary part is criminals can gain access to identities by obtaining seemingly innocent pieces of information.
READ MOREAlthough the mean nationwide FICO score recently reached 704, this development was noteworthy precisely because it marked the first time the average American was considered to have “good” credit. For those with lower scores, accessing low-interest loan products or qualifying for an apartment or auto lease can be a struggle, even with a solid history of on-time payments.
READ MOREThe difference between reaching your goals or not attaining them might depend on three numbers — your credit score. With a good credit score, you may receive a loan for a car, house or small business, all of which change your life. Without a good credit score, you may not qualify for loans or lenders charge exceptionally high interest.
READ MOREAccording to the Federal Deposit Insurance Corporation (FDIC),the underbanked are households with a checking or saving account but are credit invisible.
READ MOREFICO has had a huge impact on the everyday lives of millions of Americans. Would you be able to get the mortgage to afford the new house? Will you be approved for that credit card? All of this is directly influenced by the consumer’s FICO score.
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