Stratton Credit Solutions LLC

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WHAT YOU NEED TO KNOW
The FICO 10T Suite is the newest FICO credit scoring model, consisting of two scores: FICO 10 and FICO 10T.

FICO 10T represents a new take on credit scoring with the use of trended data, which looks at how consumers have managed their financial accounts over the previous 24 months or longer, including things such as whether they carried a balance from month to month or consolidated their debts during that time.

 This is meant to give lenders more insight into how someone handles their finances. FICO 10 and 10T scores can be used by lenders to assess credit risk when a person applies for credit cards, car loans, personal loans, and mortgages.

FICO 10 and FICO 10T won’t replace earlier versions of the FICO credit score, however, and lenders can continue to use those older models. Many lenders still rely on the FICO 8 credit scoring model, for instance, for credit approvals with products such as credit cards and personal loans. For mortgage loans, lenders may use different versions, such as FICO 2, FICO 4, or FICO 5. Car loan issuers can use the same options: FICO 2, FICO 4, FICO 5, or FICO 8.

Sending out my first around of dispute letters for my my client may God let them fall in the right hands of a person who will do their job by following the laws because the credit bureaus are a hot mess trust me I know been on the phone with so many times before they get it right.