FAQ Friday: Will FICO's New Credit Scoring System Affect Car Loans?

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If your credit reason has gone up or downbound 20 - 30 points lately, it might hit null to do with your past borrowing habits. FICO (formerly Fair Isaac Corporation) has radically denaturized its methodology to the new "FICO '08." As a result, the three-digit FICO scores you get through credit news bureaus Experian, Equifax and TransUnion haw hit denaturized dramatically in past months.

FICO's rationale and how it applies to specific types of borrowers is careful in our new article. FICO says that half of the U.S. population module see their reason fall low the new system, patch the another half's score will stay the aforementioned or go up. That's feat to change thousands, mayhap hundreds of thousands, of the nation's car loans.

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