FICO Scoring Adjustment Announced
Published on June 5, 2007 6:05 AM ESTFair Isaac Corporation announced on June 5, 2007 that they will be making an adjustment to its FICO scoring formula.
The FICO credit score will remove authorized user accounts from consideration by the scoring model. According to Fair Isaac Corporation, this move will provide more reliable scores to lenders.
An authorized user is a person permitted by a credit account holder to use an account, such as a family member. In the past, the way the card holder used their card reflected on authorized users. This will no longer be the case and may have a significant impact on some people's credit scores.
If you are an authorized user on other people's credit card accounts, such as your spouse's or your parent's, learn more about this change to understand how this will impact your credit score. For many this will mean opening their own credit card accounts and managing it wisely to build a good credit history.
FICO 08, the newest version of the Classic FICO credit score, will become available in September 2007.
For more information about this scoring change, visit www.fairisaac.com.
Credit Cards News
FICO Scoring Adjustment Announced9 Credit Card Pitfalls to Avoid
Summer Vacation Budget Calculator from Visa
Airline Rewards
Instant Approval Cards for Students
Visa Credit Cards Accepted by New York City Taxis
Rewards Cards with Instant Response
Visa Offers
American Express Credit Cards Offer Travel Insurance
How Applying for a New Credit Card Affects your Fico Score
*Although we try to maintain the offers up to date, credit card offer details change frequently. Please read the terms of your credit card application carefully when applying. We are not responsible for the card choices made by a user and for any errors.