We are pleased to announce that we are now FICO PRO CERTIFIED.

Whether you are a consumer or a lender, you want to work with a Fico Pro Certified Professional or Fico Pro Certified Company. Since fico scores and reports are used by virtually all credit grantors, understanding the fico formula is vital.

At EZ Choice Financial Corp., we believe in the continuous credit education notion so we can better serve our customers in fixing and rebuilding their credit. (More info about The FICO National Certification program: the Certified FICO Professional (FICO Pro). This unique program is designed to recognize those individuals who have a strong understanding of FICO scores and how the FICO score impacts both the lender and the consumer).

The certification involves three mini certifiactions as well:

  • Exploring FICO Scores:co Exploring FICO ® Scores is designed to teach the fundamentals of FICO ® scores. This certification defines key credit terminology to clarify and highlight differences between common credit terms. Additionally, the certification identifies the information on a credit report that is utilized to calculate a FICO ® score. Certificants learn the five categories of information that are considered in FICO ® scores and recognize how behaviors such as inquiries, loan modifications and foreclosures, among others, may affect FICO ® scores. Furthermore, details on the latest scoring model, FICO ® 8, are provided, highlighting key differentiators and resulting benefits in predictive value. Lastly, the certification identifies methods that consumers can use to manage and improve their FICO ® score
  • Analyzing the Credit Report: Analyzing the Credit Report is designed to review the credit report zones including trade lines, credit inquiries, collections items and public records as well as what information is found in the identifying information zone. It explores the categories of consumer information used in determining a consumer’s FICO ® score and reviews the steps to analyze a credit report for duplication and erroneous information. Additionally, Certificants learn how to identify potential identity theft in a credit report.
  • Communicating Credit Information: Communicating Credit Information examines privacy laws designed to protect consumer’s personal financial information and consumer rights regarding access to their credit information. Certificants learn how to effectively communicate the key information on reports and review useful tools for consumers when evaluating their credit score and uncovering identity theft. Certificants are given guidelines on how to aid a consumer in the proper steps for reporting inaccurate information and identifying the impact of FICO ® scores on consumers.

Credit Scores: Your personal credit scores are based on personal credit risk formulated by a statistical model and Not a Fico Model. Your Credit Scores are normally used objectively to evaluate information that pertains tomaking a credit decision. The online Credit Scores that you would get from either ExperianEquifaxTrans Union or any of their spin off companies would refer to as a: Credit Score or Plus Score used for informational purposes only and not used by lenders. We also call those online scores FACO SCORES

Most consumers want to know what their credit scores are because they think that the online credit scores are what the home loan companies, car dealerships, apartment rentals and credit card companies are using for them to qualify. However, it is the Fico Credit Scores that will determine whether you qualify for a home, car, apartment, credit card etc… there is no business inquiry for running your fico or faco credit scores online.

In order to see your Fico Credit Scores, you must either apply for a home loan, car loan, credit card or department store credit card, property Management Company for any apartment rental or lease, Student Loan Company or any personal loans through a bank or lending institution. This will result in a business inquiry that may adversely affect your Fico Credit Scores.

If you want to get your Fico Credit Scores without affecting your Fico Credit Scores, you can go directly to www.myfico.com

Fico (Fair Isaac Company) is a company that was founded in 1956 and created by two individuals: Bill Fair & Earl Isaac and is headquartered in Minneapolis Minnesota. Fico Scores are a measure of Credit Risk and are the most used credit scores in the world.

Most Banks, Lending institutions, insurance agencies, rental & property management companies and some of the largest pharmaceutical companies use the Fico Scoring Model to measure your personal credit risk to extend you different types of credit and or Loan Qualifications. The factors used by Fico to determine your Fico Scores from your personal credit reports are as follows: Public Records, Inquiries, collections and Trade line Account Information.

Common Scoring criteria are based on: How you make your payments (which are 35% of your credit scores), How much you owe on your credit balances (which are 30% of your credit scores), The Length of your Credit History (which are 15% of your credit scores), Different types of credit used (which are 10% of your credit scores) and Recent or New Credit (which are 10% of your credit scores).

Visit www.myfico.com for more info or call us at (888)-655-6768 with any questions you may have about your credit