If you are like me and haven’t picked up the Washington Post lately, you may not have heard of or about the new trend in Credit Reporting called “Trended Credit Data”. If you or someone you know is in the process of restoring or establishing credit to get a loan for a home, business, etc. this article may be of interest. The article starts by asking “Are you a Transactor or a Revolver, when it comes to your credit?” My question is….Do you know?
This data will give the creditor a “deeper” understanding of your spending and payment behavior. The housing industry and lenders are hopeful that it will give more consumers a greater opportunity to become home owners…..that is of course dependent upon your behavior…….you know a Transactor or a Revolver. So, be ready for the new books, ads, and sponsored posts on credit restoration. #trendedcreditdata