FICO to include buy now, pay later data in new credit score models

FICO said on Monday that it is going to incorporate buy now, pay later (BNPL) data into credit scores as the payment method surges in popularity.

The FICO Score 10 BNPL and FICO Score 10 T BNPL will be the first credit scores from a leading credit scoring provider to incorporate this data. FICO said the scores represent a “significant advancement in credit scoring, accounting for the growing importance” of such loans in the U.S. credit ecosystem.

“Buy Now, Pay Later loans are playing an increasingly important role in consumers’ financial lives,” Julie May, vice president of B2B Scores at FICO, said. By expanding its FICO Score 10 Suite with…

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