Why the New FICO Scoring System May Not Raise Your Credit Score

FICO makes changes to credit scores so medical debt isn't the same as credit card debt
Most consumer advocates reacted positively to the news that the Fair Isaacs Corporation is going to revamp the way they calculate their FICO score so medical debts aren’t going to be viewed on the same level as credit card debts in the calculations. The New FICO Score 9 will make two fundamental changes to the way the score is calculated, and this has the potential to save millions of consumers billions of dollars in interest charges if the new Score is adopted by lenders. The two main changes are:

1. All medical payments which were overdue, but which the consumer has paid in full will will not be taken into account when creating the score.

2. All medical payments which have been sent

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One Response to Why the New FICO Scoring System May Not Raise Your Credit Score

  1. faith says:

    Dave Ramsey says that you don’t need to worry about your credit score, so none of this is important to anyone. Follow Dave’s advice and you will be fine. Don’t worry about your debt score and these blood sucking companies that want you to get more and more debt. Live debt free and you’ll be fine.

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