FICO Score Is Under Real Threat, 6 Arguments

The FICO credit score is one such score that has been used to determine how financially responsible and trustworthy a consumer is. The credit number has been utterly critical to the home rental and loan application processes, especially after the financial crisis. In case a consumer doesn’t have a sufficiently high credit score (FICO), landlords and banks will most likely reject them.

There are an estimated 53 million Americans without a credit score and many do not have a sufficient credit score to get a loan. Many of them are recent graduates, migrants and young adults who prefer to avoid using credit, and veterans who have been out of the country.

Multiple credit building companies have tried to build solutions that help consumers in improving their credit score, but in most cases we have seen that the FICO score is still considered. But things are changing rapi ...

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