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Changes Coming For Credit Scoring

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About a third (30%) of one’s credit score is determined by the amount of debt that is owed when the scoring is done. The remaining 70% is split between your payment history and “other” issues which no one seems to either understand or identify. One small change may help next year with a piece of the credit scoring process.

By the end of this year, FICO, the country’s leading credit scoring organization will no longer count overdue medical bills and expenses against a person’s credit score. This could increase a credit score by as much as 25 points. But, they state that this adjustment will only be made if everything else on the credit rating scale is in good shape – so it may not help that many people since many of us do not have perfect credit with or without medical bills.

Norton Automotive Group does not consider your credit score to accept you as a customer, in pricing your vehicle or your payments. If you meet our few simple requirements and promise to make your payments, we trust you to do so. Come in to Norton and get a deal you can live with.

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