Our credit scores dictate so much about the way we live our lives. Which credit cards we can get? The loan for a car? The mortgage for a home? All of these things are dictated by our FICO score. All of that is about to change.

The creator of the FICO score is announcing big changes to how FICO scores are calculated. This could mean a bump upwards for some four million people.

The new Ultra FICO score should make it easier for people with imperfect scores to qualify for credit. It will look at more information, including data from consumers’ checking and savings accounts.

Source: https://www.cbsnews.com/video/fico-to-change-how-it-calculates-credit-score/