By: Alcides Hoy Jr.
Fair Isaac - they're the company that develops the formula that determines your FICO credit score - is rolling out a new version FICO 08 with the credit bureau TransUnion.
Now this new FICO score is supposed to be an improvement and we really welcome any improvements to credit scoring since there are so many mistakes that can be made with credit scores.
Here's what this score will mean for folks: The new FICO '08 scoring model will really target folks in the subprime category of scores in the 600s. These are the people that lenders are really struggling to predict how well they might pay their bills.