FICO Scores Likely to Drop For At Risk Consumers

Fair Isaac Corp., the company behind the FICO credit score, announced the launch of its new scoring model today called FICO 10. Unfortunately, about 110 million people will see a change and will likely see a greater gap between those who are considered good credit risks and those who are not.  Consumers who already have good credit, for example, and who continue to whittle down their existing loans and make on-time payments will see higher scores.  Those with scores less than 600 will likely see decreases in their scores.

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