FICO to Change Their Scoring System Which Could Help Millions Save Billions

FICO announced it will change its credit score to help millions of consumers save money
Credit scores are an important factor when determining how much consumers pay in interest for such things as car loans and mortgages, along with a host of other areas it can affect a consumer’s personal finances. Since credit scores can be so important when it comes to the amount of money consumers end up paying, it’s always big news when the scoring system behind the numbers changes. That’s exactly what happened this week when FICO announced they will be revising the way they calculate their scores in regard to overdue medical bills.

The announcement sees two significant changes FICO will make when taking into account medical bills that ended up going to collection:

1. Ov

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[Continue Reading at SavingAdvice.com]

This entry was posted in Credit Cards, Debt, Medical, Personal Finance, Saving Money and tagged , , , , , , , , . Bookmark the permalink.

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