A new system by Fair Issac Corporation (FICO) aims to improve the record of many borrowers, in addition to enhancing the risk-assessment capability of lenders.
FICO Score 9 is the new credit card analysis model that will give less weight to unpaid medical bills.
"FICO Score 9 employs sophisticated modeling techniques to make the credit scores more predictive of the consumer's probability of repaying a debt, compared with the previous versions. The updated scoring system will attempt to place greater importance on consumers' more recent behavior," according to NASDAQ.
The model will be available across all three credit bureaus.
