Happy Money Monday!

My clients are saying that they are seeing their FICO 10, being used to qualify them for a mortgage. The Credit Chaos of the FICO 10, has long been discussed since 2020.

But, as we skate into the summer, I’m hearing more lenders using the FICO 10.

​
Here are 3 of the Largest differences between the FICO 8 and the FICO 10
​

💰Late Payments have a larger impact. So, put everything on autopay. And, dispute any late payments. This will increase your score by 50 to 100 points.
​

💰Your Rental History, can now work for you or against you. This was once only used as a score booster, or a compensating factor. Now, it’s a part of the standard to building good credit score with both FICO 9 & FICO 10… Don’t allow these numbers to overwhelm you. There are over 49 FICO scores. Hence, why your scores are different per lender.
​

💰And, my favorite Trended Data: You’ll hear this word more frequently. Essentially, “trended data” means your credit score will be measured by your 24 month Credit History as opposed to a snap shot (like what you see on Credit Karma).
​

The FICO 10 grades you harder on Utilization, so if you are looking to purchase a home, Refinance or just increase your credit availability. Tighten up your utilization … keep it under 30%( Reduce Waste, Tighten your budget, and increase your income)
​

Need Support with that? #linkinbio#studentloans #nurses #realtors #explorepage

​

Want More Money Support?
​
Book A Free 15min. Session​​
​
​
Schedule A Budget Analysis Session ​
​
​
Use Truebill To Assist you in canceling unused subscriptions and upgrade how you calculate your Cash​
​
Best Shani,

​