Category: Grade Credit Scores

FICO, provider of the most widely used credit score[1] in the U.S., is making big changes to its credit scoring system that will take effect this summer. The company says[2] these changes will likely affect 110 million Americans, whose credit scores will either go up or down. Some 80 million are likely to see significant changes of 20 points or more....

Fair Isaac Corp., the company responsible for producing the FICO credit score, recently announced an update to how the credit score is tabulated. FICO 10 is due to be released this summer. Because the score is so commonly used by lenders (Fair Isaac states it is used in 90% of all lending decisions[1]), your personal score is very important to...

Consumers who fall into debt and look to catch up by taking out personal loans will most likely see their credit scores drop under the new credit scoring model FICO is putting into place. The good news is that some credit scores will rise as lenders will be able to reduce the number of credit defaults, according to a press...

FORT MYERS Another change is coming soon to how credit scores are calculated. The Fair Isaac Corporation (FICO) is a credit score reporting company that provides a score to judge your creditworthiness for lenders. The Wall Street Journal[1] is reporting the changes could affect the score of millions of Americans, making it harder to get loans. It’s anticipated the scores...