💨 Abstract

FICO is introducing a new credit score model that includes "Buy Now, Pay Later" (BNPL) activity. This could help the 49 million Americans who are "credit invisible" or have thin credit files build a credit history. While BNPL transactions are typically small and easy to access, they currently don’t contribute to credit scores because they aren’t reported to bureaus. The new FICO Score 10 BNPL aims to change this, potentially expanding credit access.

Courtesy: WTOP Staff