Hey there!
The credit bureaus (Trans Union, Experian, and Equifax) are continuing to tweak their scoring models.
Here are some recent changes that you should be aware of...
1) Regular installment loans, even student loans, that used to have low value in the weight of scoring factors now have more weight, especially when there is no revolving credit available.
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2) Scoring algorithms have also been adjusted to slow down the effect of paying off or paying down debts so that it takes longer to see a significant increase in scores after payments have been made.
I hope you have a good day today. Thanks for reading!
Brett
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