New FICO score: Millennials could be big winners [CBS News]
Fair Isaac Corproation (FICO)
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Source: CBS News
New FICO score: Millennials could be big winners Millennials and other so-called "credit-invisibles" are likely to benefit from a new credit scoring model that Fair Isaac Corp., the maker of FICO scores, is rolling out early next year. The proposed "UltraFICO" score is expected to be offered as a second-chance option by lenders who want to extend credit to would-be borrowers who don't have enough history to earn a decent score, as well as to people who have had minor credit scars in the past. Millennials, age 22 to 36, are likely to gain the most largely because they're at an age when they're likely to be new to credit, with little history to indicate how well they might handle a loan. "Our research indicates that 40 percent of applicants would see an upward shift of 20 points or more in their credit score," said David Shellenberger, senior director of scores and predictive analysis at FICO. "That's a substantial increase for those populations who are trying to find an on-ramp into
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- FICO UK Credit Card Market Report: February 2024 [Yahoo! Finance]Yahoo! Finance
FICO
Earnings
- 1/25/24 - Beat
FICO
Sec Filings
- 4/18/24 - Form 4
- 3/21/24 - Form 4
- 3/8/24 - Form 4
- FICO's page on the SEC website