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FICO has a tool to measure your creditworthiness during a recession, but you can’t see it

29 Jun 2020

Pay attention if you’re planning to apply for credit cards, loans, or a mortgage. FICO has a new tool for lenders to measure how “resilient” you are.

If you plan to apply for credit cards, loans, or a mortgage, or if you have a credit score in the 600s, take note: Today, FICO debuts the Resiliency Index, a new way to rate borrowers’ ability to weather a recession or other economic volatility. Lenders who already receive FICO credit scores will initially receive the new score for free.

Read the full article here.
This content was originally published by Fast Company. Original publishers retain all rights. It appears here for a limited time before automated archiving. By Fast Company

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