Do You Know Your CoreScore?

There’s a new kind of credit score in town. It’s called the CoreScore. Have you heard of it? While the new CoreScore looks at the typical FICO credit related patterns – credit card borrowing, bank transactions and mortgage data, CoreScore digs deeper. CoreScore examines transactions that are likely to occur at the lower end of the income scale such as car and rental payments, payday loans (if you’re familiar with this blog, you know what we think of payday loans), and even missed child support payments. If it can be financed, it can be linked to the new CoreScore. For more on this new consumer credit rating, check this out. Do you feel it’s too invasive?