The New UltraFICO Score-How it Affects Your Credit

New UltraFICO Factors in Your Bank Accounts

New UltraFICO Factors in Your Bank Accounts

If you’ve ever wondered why your bank accounts: checking, savings, money markets are not taken into consideration when reviewing your credit score, they may be wrapped into your credit profile now with Experian’s new UltraFICO Score meant to include behavior patterns of borrowers which include not over drafting on your checking account and managing your money. It’s said to be particularly relevant to consumers with 500-600 FICO Scores and to help elevate the scoring to include behavior patterns that have not been integrated into the scoring system.

Experian, FICO and Finicity have teamed up to help boost borrowers with lower credit scores that may not have credit or are repairing credit. This could be a game changer moving borrowers from not qualifying for Fannie Mae and Freddie Mac loan programs to eligibility. Click here for full report.


Your credit score matters. It effects the loan programs and interest rates available to you. The Fair Isaac Corporation scores are used by many lenders to determine everything from your credit cards and auto loan interest rates to a home purchase. So, what a good credit score?

Most Americans have a Good or better score giving them the opportunity to access competitive interest rates. However, a bankruptcy, low or no credit, derogatory reporting such as late payments, repossessions, and defaults can derail credit scores. The UtraFICO claims to assist borrowers that may struggle with these issues by factoring in the way they manage their bank accounts. An example is having a $400 balance in checking and a history of no overdrafts could increase the FICO score and bring the potential borrower eligible. The program is set to roll out mid-2019. More information can be found on the Experian and FICO websites.