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Credit Score Improvements Are on The Way!

Here is some interesting news that could help boost your credit score ......

One of the largest credit-reporting firms in the U.S., Experian PLC, announced it will give consumers the option to have their cellphone and utility payments factored into their credit scores early next year.

As long as you pay your bills on time and are in good standing, this could be a positive for first time home buyers. There are a couple of other credit changes that might help credit scores:

  • Fair Isaac Corp.will soon be launching a new credit score with Experian that will take into account a consumer’s history managing their checking and savings accounts.

  • 3 major credit reporting firms—Experian, Equifax, and TransUnion—have all recently removed negative information, like tax liens and judgments, from consumers’ credit reports.

We'll see how the banks interpret these changes. Stay tuned!

Source: “Want a Better Credit Score? Soon, Your Cellphone Bill Could Help,” The Wall Street Journal (Dec. 18, 2018)

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