FICO vs. Vantage: Explaining the Difference
Learn the key differences between FICO and Vantage scores, the two most widely used credit scoring models. From the range of scores to the information used for evaluation, this comprehensive guide provides a detailed comparison of the two scoring systems. Discover the impact of payment history, credit utilization, length of credit history, and more on your credit score. Whether you’re looking to improve your credit or just want to understand how it’s calculated, this blog has the information you need.
The Benefits of Tri-Bureau Data
If you’re like most people, you probably think of the credit bureaus as three separate entities. And while it’s true that Experian, Equifax, and TransUnion all collect and maintain their own data, there are actually a number of benefits to working with all three bureaus at once. Here at Altair Data, we’ve built strong relationships with all three credit bureaus, and we believe that our tri-bureau approach provides our clients with a number of advantages.
Underbanked Population into your book of business
We all know at least one person who is seemingly bad with money. They’re always borrowing from you, always late on their bills, and always seem to be in a bad mood. You may have even wondered how they manage to stay afloat financially. The answer? Likely, they’re not. This person is likely living in […]
The Case for Better Data
How accurate is the data you are using for your marketing? According to Truthset CEO, Scott McKinley, consumer data is wrong up to 60% of the time. More granularly, by comparing 17 prominent data suppliers, Truthset found gender had a 61% accuracy and age was as low as 32% accurate!? So, as a marketer what […]
3 Reasons To Stop Using FICO Scores
The credit score, derived from a consumers financial history, being used to improve business decisions and reduce risk was created in 1956 by Bill Fair and Earl Isaac the founders of Fair, Isaac and Company. Yes, 1956. The FICO score became the undeniable market leader in the 70’s and continued to grow as many lenders […]
How Lenders Miss 25% of Their Ideal Prospects
One problem that many consumers face in today’s financial landscape is building enough credit history to qualify for better loans. 25% of American consumers fall under the criteria of “thin file” prospects. Essentially, they have fewer than 5 items in their traditional credit histories, making it more difficult for them to qualify and be approved […]