FICO changes mean 40 million Americans could soon see lower credit scores - News Summed Up

FICO changes mean 40 million Americans could soon see lower credit scores


About 40 million consumers who already have high credit scores, at least 680, could see it rise even further. ADOverall about 110 million people will see their scores swing about 20 points in either direction, according to Fair Isaac. ADFICO credit scores range from a low of 300 to a high of 850. A high score — along with other financial factors — can translate into lower interest rates and more lending options for borrowers. That will give lenders more insight into how people are managing their credit, Fair Isaac said.


Source: Washington Post January 23, 2020 16:08 UTC



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