Fair Isaac Corp Updates Credit Scoring Model

Fair Isaac Corp, the developer of FICO credit scores, has announced changes to its credit scoring model. The updated system will now consider “buy now, pay later” (BNPL) loans when calculating credit scores.

Key Changes to the Credit Scoring Model

• BNPL loans will be included in credit score calculations
• This change is in response to the growing popularity of BNPL loans
• Consumers who use BNPL loans may see their credit scores impacted

Industry Impact

The update is expected to have a significant impact on the financial industry. Some experts have warned that new rules could limit the availability of BNPL loans.

Market Reaction

Fair Isaac Corp’s stock price has been affected by the announcement, with a notable increase in value.

Timeline

• The exact date of the update is not specified
• The change is expected to be implemented in the near future