Your Credit Score Might Go Up Soon
Your Credit Score May Improve
A couple of weeks ago, we read about how one-third of Americans have had debt in collections negatively affecting their credit score. Well, there’s some good news. FICO, formerly known as Fair Issac Corp., just announced changes on how they calculate consumers’ credit scores.
On Thursday, FICO announced its new credit scoring model, FICO Score 9. The new model will bypass collection agency accounts that have been paid and it will make a clear distinction on the impact of medical and non-medical collection agency accounts.