632 Credit Score – Base Fico Scores ✅ vs. Industry Specific Fico Scores ☑️ Why You Should Know The Difference🤔⁉️
632 Credit Score – Whats The Best?
Base Fico Scores ✅ vs. Industry Specific Fico Scores ☑️ Why You Should Know The Difference🤔⁉️
Do you enjoy these type of videos?
Support the Channel!!!
Cashapp – $roddywalker
It’s important to know what you’re looking for when navigating through your Fico scores. All the different versions of FICO can be overwhelming.
The goal with this video was to explain FICO Base Scores and FICO Industry Specific Scores. Each score can be useful depending on the type of credit you choose to apply for.
Since FICO® Scores were introduced to lenders over 25 years ago, they have become the best-known and most widely used credit score. But quite a bit has changed since lenders first started using FICO Scores in 1989.
Lender credit-granting requirements, data reporting practices, consumer demand for credit and consumer use of credit have all evolved.
Base FICO® Scores, such as FICO Score 8, are designed to predict the likelihood of not paying as agreed in the future on any credit obligation, whether it’s a mortgage, credit card, student loan or other credit product.
Industry-specific FICO® Scores incorporate the predictive power of base FICO Scores while also providing lenders a further-refined credit risk assessment tailored to the type of credit the consumer is seeking. For example, auto lenders and credit card issuers may use a FICO Auto Score or a FICO Bankcard Score, respectively, instead of base FICO Scores.
Please Hit THUMBS UP If You Enjoyed The Video & Subscribe For More Content Like THIS!!!
Follow Me On Social Media!!!
Instagram, Facebook & Twitter – @roddyiwalker
#MyFico #FicoScore #CreditApp #BaseFicoScores #IndustrySpecificFicoScores