The END of the FICO Credit Score??

Is this the END of FICO credit scores?

The FICO Score, introduced in 1989, revolutionized the lending industry by providing the first comprehensive consumer credit score.

Prior to its implementation, there was no consistent system based on credit bureau data, resulting in a substantial amount of paperwork required to obtain a credit card or loan.

FICO has since become ubiquitous with credit scores and is the most trusted algorithm for a majority of the industry.

That said, an increasing number of lenders are abandoning conventional credit score models for assessing creditworthiness and are instead utilizing alternative measures for making lending decisions.

In today’s video, we’re going to dive into this new way of assessing creditworthiness and discuss whether it spells doom for Fair Isaac.

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#fico #creditscore #ficoscore

[mariaemilianegron]

Many how ever my credit is based on my immaculate payment history and due diligence in use of my available credit

[rosstemple]

I wonder about ESG scores and the future credit system. Also is shadow banking ever going to be ended or at least reigned in?
Personally I believe shadow banking should be illegal.

[brandnew]

I have credit karma. Love it. I also have had discrepancies on my report and I normally go thru alot just to remove it. Like online file of discrepancies and then a paper mailed in

[Wolvedrid]

Depending on where you go it can be easy to manipulate the fico and its score

[EGGINFOOLS]

Great. Now let's get rid of auto "credit" scores

[jeanettesager]

I wish they would get rid of FICO because I don't think it's really fair as you said it doesn't take into account was actually happening in a person's life and how it's affecting their credit, actually the pandemic really did mess up a lot of people and I don't think we're being treated fairly.