Cryptocurrency Q&A
How do lenders use the FICO score?
How do lenders use the FICO score?
Matteo
Wed Jan 22 2025
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7
answers
1704
I want to know how lenders utilize the FICO score when assessing loan applications. Specifically, how does the FICO score influence their decision to approve or reject a loan, and what role does it play in determining the loan terms and conditions?
7 answers
Eleonora
Fri Jan 24 2025
Lenders who adopt credit scoring can approve a higher volume of loans.
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SumoPower
Fri Jan 24 2025
This prediction is possible even if the individual's credit report indicates past issues.
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BitcoinWizardry
Fri Jan 24 2025
This is because credit scoring provides lenders with detailed and accurate information.
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SsangyongSpiritedStrength
Fri Jan 24 2025
This information serves as a solid foundation for making credit decisions.
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Enrico
Fri Jan 24 2025
Through credit scoring, lenders can predict an individual's future performance.
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