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Category news: Alternative Financial Services

What Is an Alternative Credit Score—And How Can It Benefit You?

Although the mean nationwide FICO score recently reached 704, this development was noteworthy precisely because it marked the first time the average American was considered to have “good” credit. For those with lower scores, accessing low-interest loan products or qualifying for an apartment or auto lease can be a struggle, even with a solid history of on-time payments.

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How a Secured Credit Card Can Boost Your Credit Score

The difference between reaching your goals or not attaining them might depend on three numbers — your credit score. With a good credit score, you may receive a loan for a car, house or small business, all of which change your life. Without a good credit score, you may not qualify for loans or lenders charge exceptionally high interest.

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Alternative Credit Bureaus

FICO has had a huge impact on the everyday lives of millions of Americans. Would you be able to get the mortgage to afford the new house? Will you be approved for that credit card? All of this is directly influenced by the consumer’s FICO score.

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