by Joe Chavarria | Aug 27, 2020 | Uncategorized
What is a Retail Instalment Contract (RIC)? RIC is a version of indirect lending. For example, a consumer goes to a dealership to buy a car. The car is selected, and it is time to finance it. The finance managers would run the credit application and scrub it against...
by Joe Chavarria | Aug 27, 2020 | Uncategorized
When do accounts report? Most credit card companies report data to the bureau, usually the day after or a couple of days after the statement closing date. It is vital to note that the statement closing date is different than a due date. Statement closing dates vary...
by Joe Chavarria | Aug 27, 2020 | Uncategorized
What is Experian? Established in 1980, Experian is a credit reporting agency, which currently operates in 37 countries. Like the other bureaus, Equifax, and TransUnion, it provides consumers with credit reports. These credit reports assist the lenders in evaluating...
by Joe Chavarria | Aug 5, 2020 | Uncategorized
What is a FICO score? A FICO (Fair Isaac Corporation) score is a number that provides an overall view of a consumer’s credit reports. It is a quick and efficient way for lenders to find out how much of a risk is a consumer to grant a loan. The higher the FICO...
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