Is the FICO scoring system changing...

[lukeskywalker7]

I have been reading that our current FICO scoring system is changing soon.  My question is into what and will it be better or worse, who will it benefit more the consumer or the credit companies.  Please post what ever you have on this if any.

Thanks

[Anonymous]

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lukeskywalker7 wrote:

I have been reading that our current FICO scoring system is changing soon.  My question is into what and will it be better or worse, who will it benefit more the consumer or the credit companies.  Please post what ever you have on this if any.

Thanks

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It has not changed yet.  The change is expected sometime this year, although nobody knows exactly when.  There are several threads on this.  Do a search for "FICO08" and "FICO 08" for lots of good information.

[lukeskywalker7]

thank you cheddar, that is a big help.

thanks