Your credit score is about to become more forgiving

Source: Jonnelle Marte, Washington Post (Paid Registration)

New changes are coming in the fall to how one major credit score is calculated, and the shift could make the key number more forgiving for people who have debt.

The VantageScore, a credit scoring model developed by the three major credit reporting bureaus TransUnion, Equifax and Experian, will soon put more weight on the trends in a person’s credit report. That includes whether they have been paying off their credit cards or have been racking up more debt, says Jeff Richardson, a spokesman for VantageScore Solutions, the company that offers the score.

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