The introduction of these scores comes as concerns grow about consumers' ability to afford purchases made through buy-now, pay-later plans, with an annual survey by the Federal Reserve finding a sharp increase in people falling behind on payments last year.
| less than a minute read
FICO to offer credit scores including buy-now, pay-later data
“Buy-now, pay-later loans are playing an increasingly important role in consumers’ financial lives,” said Julie May, vice president and general manager of B2B scores at FICO. “By capturing a broader view of consumer credit behavior, lenders believe they can make more informed decisions, ultimately benefiting both the industry and consumers.”
