Wealth Building Tip of the Day:
Hello! I want to share some valuable information with you to help you in achieving your financial dreams.
This year, a “new” type of credit scoring system is being rolled out to give you an alternative way to increase your credit score.
It’s called the Ultra FICO score. According to those offering this alternative scoring system, you can potentially increase your credit score up to 20 points by using this option!
This can make possibly a major difference for you if your score is poor or low.
Or if you’re on the brink of the next credit scoring category (for example, if your score is “fair” at 669, 20 points would boost your score into the “good” category).
Here, I talk about the new criteria that’s being used for the Ultra FICO Score.
Of course, there are several things that need to be in place for your score to be positively affected by using this alternative scoring system. Click here for the details.
Plus, it’s still being rolled out; however, you can sign up to be updated when this option is available at https://www.fico.com/ultrafico/.
Just like with all things, there are benefits and disadvantages. You’ll want to weigh out using the regular FICO score against this option to determine what will help boost your credit score more, along with the increased risk that often comes with more of your financial data being shared and transmitted.
However, this could be a very useful option for you if your borrowing history has been less than stellar.