A new system for determining your credit-worthiness, FICO '08, rolls out this Thursday, and there's nothing you can to do stop it.
1. Spouses and children can improve their credit score by being an authorized user on a credit card account, but that's it. No more piggybacking off strangers.
2. Debts less than $100 that go to collections will matter less.
3. They will look at the total picture more. A single repossession, for instance, won't matter as much if everything else looks good.
4. Having less available credit will drag down your score more.
5. Diversity matters more. A mix of healthy auto, personal and student loans would bring up a score.
6. Closing accounts will bring down the score.
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