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In fact, while other credit scoring models may generate a credit score based on stale credit information , our minimum scoring criteria requires that at least one credit account has updated information reported in the last six months. How frequently the data is updated depends on where it resides: Credit Bureau Data.
Instead, innovative analytic firms such as FICO are investing in identifying new predictive and compliant data sources to build models that accurately assess if underserved borrowers are in a position to successfully take on a new credit obligation. In the U.S., Our testing has found that as many as 15 million U.S.
consumers have experienced disruption to their income since the onset of the pandemic, the combination of government stimulus programs such as the CARES Act and payment accommodation programs being offered by lenders continues to enable many consumers to avoid falling behind on their bills. FICO® Score, as stated in our top post of the year.
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