If you need a boost in your credit score to purchase that dream home, keep reading!
As a Realtor®, I work with buyers and renters in the Commonwealth of Virginia. Unfortunately, credit has stopped many from moving forward as fast as they would like to. However, I've just heard some great news! Experian PLC, one of the largest credit reporting agencies in the U.S., recently announced that it will give consumers the option to have their cellphone and utility payments factored into their credit scores! According to them, about 46 million consumers who have limited credit information reporting could instantly see an increase to their credit scores from the new data being added in.
But wait, there's more! There are other changes coming down the pike. The creator of the FICO credit score, Fair Isaac Corp., will soon launch a new credit score (with Experian) that will factor in the history from your checking and savings accounts. This is huge, especially if you're one who doesn't allow their accounts to be overdrawn.
The program is getting ready to launch and it is free to sign up. To learn more about Experian Boost, go to http://www.experian.com.
You're welcome. 🙂