Personal Finance

FICO Offers New Credit Score Service to Account for Buy-Now-Pay-Later Loans

The company says its new BNPL scores will give lenders better insight into repayment behavior and a fuller picture of consumers’ credit readiness.
FICO Offers New Credit Score Service to Account for Buy-Now-Pay-Later Loans
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Wesley Brown
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FICO, the publicly traded data analytics company known for its aggregate credit score service, has launched a new buy-now-pay-later (BNPL) option to provide inexperienced credit users with better access to financial and banking services.

Formally known as the Fair Isaac Corporation, FICO announced on June 23 that it had developed two new scoring services to reflect the rising importance of BNPL loans in the U.S. credit-reporting system, which includes the Big Three credit reporting agencies: Experian, Equifax, and TransUnion.

Wesley Brown
Wesley Brown
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Wesley Brown is a long-time business and public policy reporter based in Arkansas. He has written for many print and digital publications across the country.