FICO Credit Scores to Change

Getting a good loan may get harder. The Fair Isaac Corporation recently announced that they'll change how the FICO credit score is calculated. One of the most notable changes is that they'll no longer reward an "authorized user" on an account in good standing. You used to be able to piggy-back on another person's good behavior by becoming an authorized user on their account.

Unfortunately, people have been taking advantage of this. Someone with bad credit can pay to become an authorized user on a good account -- even if they don't know the account owner. As a result, the credit reporting and scoring firms aren't sure who to trust, and they're going to change the scoring process to reduce their risk. For more details, visit About.com's Credit site.

Further reading:

• The FICO Credit Score