New FICO model may boost some borrowers' scores
August 24, 2009 at 08:00 AM EDT
Even the most responsible borrowers slip up sometimes. Maybe a utility bill went unpaid after you moved and the missed payment went into collections. The latest version of the FICO credit score will grade those types of occasional mistakes less harshly than earlier versions of the scoring system did -- and that may mean higher scores for some borrowers.