FICO 08 system is the newest version of the algorithm used by the Credit rating agencies to determine the credit behavior of consumers. Credit score improved over time may suddenly have to update itself according to changing times.
The earlier loop holes are seemingly removed.
1. Now a $100 bill in late payment will not drastically affect your credit score. The overall view about your credit lines will be taken into consideration. Continue reading ‘4 Changes Related to New FICO 08 System and How That Drastically Affects Your Credit Score?’ »