The New Year is just around the corner and so are the new California laws that are about to take effect. Here at ApplyConnect, we want to keep you up-to-date on some of the changes that will directly impact the multifamily housing industry, this year.
By: Laura Mowry
According to the Fair Isaac Corporation, in the 1950’s, Bill Fair and Earl Isaac founded the company, which introduced a new concept of credit scoring to credit grantors. In 1981, FICO introduced the first credit bureau risk score. Today, the predictive analytics company works with businesses in more than 80 countries to determine creditworthiness.
FICO Score Analysis factors payment history, amount of debt, length of credit history, new credit and types of credit used to determine an individual’s risk score. Long credit history, no serious delinquencies and recent credit card use help boost a FICO score, while high credit usage, recent collection and bad payment history have negative impact. Factors also include how many times lenders have requested information about your credit. Scores range from 300 to 850 and the higher the score, the better. Continue reading
This year, according to the American Research Group, Inc., American shoppers will spend an average of $861 this holiday season. With the busiest shopping season of the year in full-swing, many consumers use credit cards to make their holiday purchases, without considering the potential consequences.