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Credit Scores

Welcome to the News View for "Credit Scores".

Here, on these archive pages, you'll find all of the articles on Payments News for Credit Scores listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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March 12, 2009

FICO Launches "FICO Score Trends" for Lenders

FICO has announced the launch of a new subscription service for businesses, FICO Score Trends. Through the service, "lenders will be able to access and drill down into industry FICO® score trends, indexed by a range of criteria such as industry, geography and time period, to regularly analyze their own portfolios and improve their risk management and forecasting." READ MORE »

November 06, 2008

ID Analytics Introduces Credit Optics Supplemental Credit Score

ID Analytics has introduced ID Analytics Credit Optics, a supplemental credit score that the company says "delivers a new dimension to the assessment of the creditworthiness of individuals. ID Analytics Credit Optics improves credit decisions by gleaning insight from information that is not typically included when calculating a traditional credit score. Organizations can immediately reduce losses by combining traditional credit scores with ID Analytics Credit Optics to fine tune credit decision processes." READ MORE »

July 14, 2008

TransUnion Launches Payment Behaviour Score

TransUnion has announced the launch of Payment Behaviour Score - described as "a new score to improve the effectiveness of acquisition and portfolio reviews for credit card businesses. This scoring solution is designed to strengthen relationships with cardholders and enhance the portfolio management strategy for the credit card providers." READ MORE »

July 11, 2008

Consumer Understanding of Credit Scores Improves but Remains Poor

Although consumer understanding of credit scores has improved over the past year, it remains poor, according to the latest credit score survey commissioned by the Consumer Federation of America (CFA) and Washington Mutual Bank (WaMu). Less than one-third of Americans (31%), for example, understand that credit scores indicate risk of not repaying a loan, rather than factors like knowledge of, or attitude toward, consumer credit.


June 19, 2008

Credit Card Issuers Checking More than Consumers' Credit Scores

In an article titled "Card Issuers Get Personal To Check Credit", Robin Sidel writes for the Wall St. Journal about how credit card issuers are beginning to consider factors other than credit scores in determining the amount of credit they'll extend on their credit cards.

May 12, 2008

FHA Encourages Lenders to Use Bill Payment Data for Loans

PRBC, a bill payment credit bureau, has announced that its credit verification, reporting and scoring procedures meet or exceed new guidance provided by the Federal Housing Administration (FHA) for verifying "bill payment" histories and establishing credit scores for borrowers with little or no traditional credit files or FICO scores. READ MORE »

April 22, 2008

Experian, Credit Builders Alliance Announce Data Reporting Partnership

Experian and Credit Builders Alliance (CBA) have announced the launch of a data-reporting partnership that enables CBA's members to report microloan repayment data to Experian to help thousands of small business entrepreneurs build a credit history. READ MORE »

April 16, 2008

A Look at PRBC

In an article titled The Credit Rating in Your Shoe Box, Ben Levisohn and Brian Burnsed write for Business Week about Pay Rent, Build Credit (PRBC). "They've captured the attention of lenders right now who want growth in new markets [like the unbanked]," says Michael Turner of Political & Economic Research Council (PERC), a public policy group.

March 11, 2008

Experian, eBureau Partner on Credit Scoring Tool for Unbanked

Experian has announced the launch of Emerging Credit Score, a new credit scoring tool developed with eBureau designed to assist lenders in evaluating the creditworthiness of unbanked and underbanked consumers.


March 10, 2008

Billeo, PRBC Give Consumers New Way to Build Credit

Billeo and Payment Reporting Builds Credit (PRBC), an alternative credit bureau that collects, reports and scores rental and bill payment data, have announced that they are working together to enable consumers to build credit by doing what they do each month – pay their recurring bills on time.


February 21, 2008

Alternative Data and Its Use in Credit Scoring

The Payment Cards Center of the Federal Reserve Bank of Philadelphia has released a new discussion paper titled "Alternative Data and Its Use in Credit Scoring Thin- and No-File Consumers" icon_PDF_small.gif.


February 04, 2008

Fair Isaac Partners on Credit Scoring for Indian Lenders

Fair Isaac has announced an alliance with High Mark Credit Information Services of India to introduce Fair Isaac's global-standard FICO credit risk scoring technology to Indian lenders.


November 28, 2007

Brazil's ACSP Launches Global FICO Consumer Credit Scores

Fair Isaac and Associacao Comercial de Sao Paulo (ACSP), one of the largest credit bureaus in Brazil, have announced ACSP’s launch of Global FICO Score for Brazilian businesses - saying that "the launch of this innovative consumer credit-risk score makes Brazil the first South American nation to access Fair Isaac’s global-standard FICO credit risk scoring technology."


November 19, 2007

Chase Card Services to Adjust Pricing Practices

Chase Card Services has announced "the expansion of Chase Clear & Simple, an ongoing program designed to help Chase customers better understand and manage their accounts, with the adoption of new, clearer pricing practices. Chase is eliminating a practice, commonly used in the industry, of increasing interest rates for individual cardholders when their credit-bureau scores decline. This change is effective on March 1, 2008."


October 15, 2007

ID Analytics Introduces ID Score-Revenue for Thin File Consumers

ID Analytics has announced ID Score-Revenue, calling it "a new solution to help companies expand their customer base by more accurately evaluating the risk of individuals that lack substantial credit histories."


September 28, 2007

Grameen America Reporting Payment Histories to Experian

Grameen American and Experian have announced the two companies have established "a unique data reporting relationship to support Grameen America's business" that will "enable Grameen America's borrowers to establish their credit files and will provide the foundation for building the borrowers' credit scores allowing access to financial services previously not available."


September 17, 2007

Experian Launches

Experian has announced the launch of, a new online resource designed to help small-business owners gain a greater understanding of the many topics dealing with business credit, such as the importance of business credit and tips for establishing and improving business credit scores.


September 15, 2007

Employers Can Legally Refuse to Hire Applicants with Low Credit Scores

Visa USA has published results of a new survey that shows that "the vast majority of Americans do not know that a bad credit score is more than just a barrier to getting a loan - it may also keep you from getting the job you want." According to the survey, "only 20 percent of Americans know that it is legal for employers to refuse to hire job applicants with low credit scores. Fully 52 percent of Americans mistakenly believe it is illegal for prospective employers to use credit scores as a hiring criteria and another 28 percent of survey respondents are unsure."


August 17, 2007

A Look at Online Delivery of Credit Report Monitoring Services

Online Banking Report's latest issue titled "The Market for Fraud Protection, Identity Theft, and Credit Monitoring Services" recommends that "the time is right for ALL financial institutions to add identity protection/monitoring to their online offerings. The service has been optimized for Web delivery; it provides clear user benefits; it’s relatively easy to implement, and it can directly contribute to the bottom line in real, fee-based dollars, not nebulous intangibles.”

July 09, 2007

June 28, 2007

A Look At Consumer Credit Reports

Last week, in testimony before the US House Financial Services Committee, Sandra Braunstein, Director, Division of Consumer and Community Affairs of The Federal Reserve Board, provided a deep look at consumer credit reports in the US. The Committee was looking into issues associated with errors in credit reports and how consumers can get the errors corrected.

June 26, 2007

Credit Bureaus Fight Consumer-Ordered Freezes

In an article titled 'Credit Bureaus Fight Consumer-Ordered Freezes", Byron Acohido and Jon Swartz write for USA Today about the Consumer Data Industry Association and its efforts on behalf of the three major credit bureaus (Experian, Equifax and TransUnion) to slow legislative efforts at the state level regarding laws that enable consumers to freeze access to their credit histories. They write that "by far the best protection against new-account fraud is a credit freeze, say credit consultants and fraud investigators. A credit freeze bars the credit bureaus from issuing your credit report — the summary of loans and payments that forms the basis of your credit score."

June 20, 2007

Congress Urged to Speed up Laws on Credit Industry

Alan Wirzbicki writes for the Boston Globe about comments made at yesterday's House Financial Services Committee meeting by chairman Rep. Barney Frank who said "the federal government was not moving quickly enough to regulate the consumer credit bureaus and opened the possibility of new legislation later this year." A webcast archive of the hearing along with copies of the prepared testimony is available on the Committee's web site.

June 19, 2007

House Committee Hearing Today on Credit Reports

Today, the US House Committee on Financial Services is holding a hearing titled "Credit Reports: Consumers’ Ability to Dispute and Change Inaccurate Information" to "examine factors that continue to contribute to inaccurate consumer credit reports and evaluate the adequacy of the consumer dispute process under the Fair Credit Reporting Act (FCRA). In addition, the Committee will hear recommendations for improving the process and efforts that furnishers, credit bureaus and the regulators are taking to improve the accuracy of credit report information and will review the status of key rule makings and studies mandated by the Fair and Accurate Credit Transactions Act of 2003 (FACTA) related to the accuracy of information furnished to consumer reporting agencies and the adequacy of the dispute resolution process."

June 14, 2007

Average Credit Score Is 98 Points Lower With One Late Auto Payment

Experian Consumer Direct reports that the average credit score for U.S. consumers with no late auto payments is nearly 100 points higher than for those who have at least one late payment.


June 05, 2007

Fair Isaac Adjusts FICO 08 Scoring

Fair Isaac has announced that it will "adjust its FICO scoring formula to ensure the continued reliability and predictive power of FICO scores. This action is intended to protect lenders and FICO scores from abuse of authorized user credit card accounts by a new kind of credit repair service that sells consumer credit card histories to credit applicants in order to purposefully misrepresent the applicants’ own credit history to lenders and other businesses."


March 29, 2007

Visa Launches National Financial Education Program for College Students

Visa USA has announced the national launch of its What's My Score program - including giving away 5,000 free FICO credit scores - to college students. The launch coincides with the release of a new survey of credit and debit cardholders that shows that only 17 percent of those surveyed knew their FICO credit score by the time they were 21 years old.


March 23, 2007

A Look At Credit Scores

The Mint blog has an in-depth look into credit scores, why they're important, how they're calculated, how to improve your credit score, etc. Mint is a "venture-funded startup that is working nights and weekends to build a free, effortless, and secure anytime-anywhere personal finance tool for individuals who want control of their current and financial future." You can sign up to be notified when they launch.

March 19, 2007

How to Increase Your Credit Score

Gerri Willis writes for CNN Money about techniques consumers can use to increase their credit scores - "the best way to improve your credit score in the short term is to pay off the high balances on your credit card - that can raise your FICO score 60 to 70 points overnight."

January 30, 2007

Tracking Americans’ Credit Habits

TransUnion’s has announced results from two surveys it recently commissioned with GfK Roper Public Affairs & Media designed to gauge distinct aspects of consumers’ current credit habits. " found that 35 percent of consumers actually report purchasing less on credit this holiday season than last year, when the same question yielded 43 percent. Similar to the 2006 survey, four in ten (43 percent) say they have the same amount of credit card debt this year as last, with 11 percent reporting they have more debt and 29 percent reporting they have less."

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