Term of the Day: Precision Score

	View online | Add Investopedia to safe senders list August 28, 2013 Dictionary Investing Markets Personal Finance Active Trading Forex Professionals Tutorials Precision Score A number used by the TransUnion Credit Bureau to quantify the credit worthiness of borrowers. Precision scores used to be called Empirica scores before TransUnion started using the NextGen scoring model. These scores will determine how risky it is for a lending institution to lend money to borrowers. Don't be fooled by the name though, there are many companies that use this score but call it something else. They include: - Experian, who uses the term "FICO Advanced Risk Score". - TransUnion, who uses the term "Precision". - Equifax, who uses the term "Pinnacle". Investopedia Says: With precision scores, the lower the score the higher the risk for the lender, thus more interest is charged... Learn More Share: The Importance Of Your Credit Rating Here we'll explore what a credit score is, how it is determined, why it is important and, finally, some tips to acquire and maintain it... Share: 5 Keys To Unlocking A Better Credit Score A credit score is the key to understanding how creditworthiness is evaluated by lending institutions, as a good credit score can... Share: 10 Steps To Help Erase Errors On Your Credit Report If there is any indication of any suspicious or fraudulent activity on your report, there are ways to dispute these errors... Share: How Your VantageScore Credit Report Is Calculated VantageScore credit scores are computed in a fundamentally different manner than FICO scores. They start with... Share: 7 Tips For The Do-It-Yourself Debt Manager The primary advantage of being your own debt management advisor is that nobody knows your financial situation like you do... Share: How To Reduce Your Debts Without Spending Unnecessarily You should avoid spending unnecessary sums of cash in the pursuit of a financially liberated future... Share: **NEW** Subscription Services: Income Investing subscribe now! ETF Investing subscribe now! Commodities Trading subscribe now! Options Trading subscribe now! Futures Trading subscribe now! Subscription Services: Investing Basics subscribe now! Warren Buffett Watch subscribe now! Forex Weekly subscribe now! Professionals In The Money subscribe now! Chart Advisor subscribe now! Stock Watch Weekly subscribe now! Personal Finance subscribe now! News To Use subscribe now! Related Slideshows: 1. 7 Tips For Closing A Credit Card 2. 5 Ways Your Partner Can Ruin Your Credit 3. 5 Risky Mortgages To Avoid 4. Top 5 Budgeting Questions Answered 5. 5 Ways To Be Irreplaceable At Work Related FAQs: 1. What are the benefits of credit ratings? 2. If my spouse passes away, will I have to sell my home to meet creditor obligations? 3. How do I get credit for my retirement plan contributions? 4. Why are credit cards able to charge such high interest rates compared to other lenders? 5. Which credit card company holds the honor of most profitable IPO? Videos More Videos » What Is A Credit Score? 3 Important Credit Score Factors Unexpected Things That Lower Your Credit Score How Line of Credit Works The Most Effective Way To Eliminate Debt You are currently subscribed as: udin.n.teta.finance@blogger.com Unsubscribe | Manage Subscriptions | Subscribe Investopedia.com A Division of Valueclick, Inc. Copyright © 2013 All Rights Reserved Follow us on: