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Arriving Summer of 2020: The New FICO 10 Scoring Model. Here's What to Expect ...
 
 
Arriving Summer of 2020:  The New FICO 10 Scoring Model
Here's What to Expect ...
 
 
Hotter temperatures aren't the only thing that will soon be rolling in.  A hot new FICO Scoring model will also make its entrance at some point during the upcoming summer months ... 
A new credit scoring model isn't that surprising of a development.  Since its inception in 1989, FICO Scoring has evolved and changed many times.  
This new and latest version, called "FICO Score 10 and FICO Score 10 T", is to be released to credit bureaus this coming summer or early fall.  It will feature some broadened elements to the calculation of credit scores.
The latter version ... FICO Score 10 T ... will utilize what is called "trended data".  As the tag-name suggests, this scoring model will use a wider scope when taking consumers' financial actions into account.  Trended data reveals just how a consumer uses their money and the credit they have available to them.
FICO Score 10 T will analyze and weigh:

A consumer's credit habits HOW consumers utilize their monies to address their debt(s) HOW account payments were made over a 2-year period (thus establishing a trend) Delinquencies (if any), will be weighed more harshly than in the past The RATIO of Debt Utilization VS ... more

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