UltraFICO: Is the New Credit Score Good or Bad for Consumers?

Credit-scoring giant FICO (NYSE: FICO) just announced that a brand-new credit scoring model, known as UltraFICO, will debut in 2019. The intention is to allow consumers who may have some dings on their credit, but who have been very responsible with their checking and savings accounts, to have a better chance of qualifying for loans and other credit products.

- What a FICO score is
- Why credit scores exist
- The idea behind the UltraFICO model and if its a good idea
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[SportsSimp]

Adding in ones bank account history is a great addition to your FICO Score.

[ochenhetree]

Bad idea they will sell your information

[SCARFACE]

I predict some massive lawsuits coming. What I do with my money is my business and no one else's. When I signed up with my bank, nowhere in a contract did I agree to let my bank share how I spend my money with a third party! To me, this is a massive privacy violation!