Consumers struggling to repair their credit will soon see new methods being used to calculate their credit scores.

Fair Isaacs Corp., a company that determines consumer credit scores, will be implementing the changes at the end of January, according to a report by Jacksonville's WJXT-TV. One benefit for consumers will be a new policy that no longer counts unpaid debts smaller than $100.

However, consumers will still have to keep their credit accounts paid up and active in order to avoid a negative impact to their credit ratings.

The report noted that consumers who have a major credit issue on their record will also be punished less severely in the new rating system, although one drawback for some families may be a change making it harder for people to improve a child or spouse's credit score by adding them to an account.


Typically, a late credit card payment can be the worst thing for your credit rating - and also for personal finances. Companies often charge high late fees for a single late payment, and then often follow up with interest rate hikes that can make getting out of debt next to impossible for some. Rather than fall into this debt trap, consumers can consider options such as payday loans to help them stay on top of their personal credit.

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