NEW YORK--(BUSINESS WIRE)--SubscriberWise, the nation’s largest issuing CRA for the communications industry and the leading protector of children victimized by identity fraud, announced today the additional and insightful advice regarding what has been labeled a ‘waste of time’ as it relates to the pursuit of credit scores above the minimum scoring thresholds for which consumers typically obtain the most favorable rates for various types of credit products including mortgage, HELOC, and auto.
Specifically, the issue of concern from the perspective of FICO professor David Howe involves the misguided allegation that ‘going higher’ than the minimum threshold of super-prime credit (FICO 750 according to one expert cited in the CNBC story) is a ‘waste of time’: https://www.cnbc.com/2018/10/09/going-higher-than-this-credit-score-is-a-waste-of-time-expert-says.html
The minimum thresholds for the most favorable rates based on credit scores – ‘excellent range’ as referenced in the story – are FICO 750 and 760. Independent of the CNBC article and according to recent Informa Research Services, accurate as of October 12, 2018, the specific minimum thresholds for the most favorable rates by score range are as follows:
- 30-year mortgage: 760 – 850
- 15-year home equity loan: 740 – 850
- 48-month auto loan: 720 – 850
“I would like to have a conversation with Mr. Yoni Blumberg and share my decades-long experience and perspectives on credit and credit scoring,” stated David Howe, SubscriberWise founder and the world’s only credit scoring consumer to obtain simultaneous perfect FICO and Vantage scores across every national credit bureau (TransUnion, Equifax, and Experian). “I have made several attempts to talk with Mr. Blumberg and, most recently, he did thank me for information that I shared with him.
“In general, I perceive that Mr. Blumberg is publishing accurate and helpful information for consumers but he does occasionally miss-the-mark, at least from my personal and professional perspective (See related story: FICO Czar Howe Challenges ‘Credit Experts’ After Alleging CNBC’s Yoni Blumberg Misreports the Myth Correctly Dispelled by FICO’s Ethan Dornhelm -- https://finance.yahoo.com/news/fico-czar-howe-challenges-credit-222500680.html)
Listen to Credit Czar David Howe offer the best advice in terms of the importance of always pursuing the maximum credit score possible to ensure the most favorable financial circumstances as one navigates through life’s financial events
Read the full story on LinkedIn: https://www.linkedin.com/pulse/fico-prof-howe-yoni-blumberg-cnbc-publishes-generally-david-howe
By incorporating years of communications performance data and decision models, including FICO's latest analytic technology (FICO 9 Score), SubscriberWise® delivers unprecedented predictive power with a fully compliant, score driven decision management system. SubscriberWise is a risk management preferred-solutions provider for the National Cable Television Cooperative (www.nctconline.org).
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