VantageScore will soon begin using “trended data” in its credit scores — a first among the major scoring models. The credit scoring firm this month rolled out VantageScore 4.0, a new update to its formula that will be released in…
The big credit bureau Experian is making VantageScore credit scores available for free via banks and credit card issuers.
The past several years have often seemed packed with high-profile weather events.
Now, lenders and credit reporting agencies are taking note and are taking special precautions to lessen the odds of another type of harm. The moves shield from harm the credit scores of people who missed loan payments due to severe weather.
As someone who’s lived in Texas for nearly five years, it’s bad enough to see studies that say the South is more impoverished and fatter than the rest of the country. Now data suggests we Southerners have the nation’s worst credit, too.
Recent data shows those U.S. cities with the highest average credit scores are all in the Midwest or North, according a map of the country’s highest and lowest VantageScores created by credit bureau Experian. Those cities the with lowest average credit scores, meanwhile, can often be found in the South, with five of the six lowest-scoring cities in two particular states: Texas and Louisiana.
Why is that? “It’s hard to say exactly why certain cities or regions of the country are faring better than others, but good credit scores are the product of having a strong credit history,” says Maxine Sweet, vice president of public education at Experian.