Need a boost to your credit rating? Try these new financial tools

Source: Kenneth Harney, Washington Post (Paid Registration)

FICO’s “Ultra” score credit raises scores by importing data from your checking, banking, savings and money-market accounts into your credit report when calculating your score. If you have some savings, maintain your bank accounts over time, and avoid negative balances, it’s likely you’ll get a higher score.

Experian’s new “Boost” option offers another score-enhancement approach. It imports your on-time utilities and telecom payments and includes positive data into your score calculations.

The Wayfinder software runs dozens of scenarios to get the borrower a target score within a designated time period by taking steps to modify accounts in their credit reports.

Read Full Article: Need a boost to your credit rating? Try these new financial tools

 

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