Stay Updated

FICO is able to update the way they calculate a credit score, so it is a good idea to keep an eye out for upcoming changes. The most recent FICO model changes took effect in 2009 called FICO ’08. Some of these adjustments are below.

Card Balances

As we have mentioned before, having high credit card balances close to your limit reflects poorly on credit scores. There is an even greater importance put on these credit card balances.

Small Debts

If you have a miscellaneous utility bill, parking ticket, or medical bill you forgot to pay, these will not be used in credit scoring if the initial bill was less than $100.

Negative Inconsistencies

Negative information on your credit report, as an independent event, will not carry as much weight as they used to. If your credit report shows a pattern of negative information, repairing these one by one will enable you to improve your credit score faster.

Authorized User Accounts

Being an authorized user on an account can still help your credit, but abusive brokered accounts will no longer be counted. You will learn more about authorized user accounts in the next section.