Lots of new rules for your FICO scores


solid fixture here in the forum
Staff member
New logarithms (38) have begun since this past February and 11 more phased in by August. The main thing you will see is very quick reporting now, delinquent medical debt will have a year with collections departments before they can report you, it was 6 months. Debts less then $100 are not reprtable. If you already paid a past due bill the reporting will be deleted. Credit card companies will release your files and Credit reporting agencies will report every 4 days with some as much as every 10 days. Recommendations that you need at least 5 accounts active are no longer permitted and guidelines for how long you had credit established to be categorized poor, fair, good and excellent has changed.
In short - gaining higher scores are now easier, but the balance is FICO points are assigned less.