Newest Fico Scoring System

Published by: Project 720

Category: Credit Education

Reading Time: 3–4 minutes

🔍 What Is FICO 10T?

You may have heard there’s a new credit score model out FICO 10T. But what is it, and how does it affect you?

FICO 10T is one of the latest versions of the FICO score, which lenders use to decide whether to approve you for things like credit cards, loans, and mortgages. The "T" stands for trended data meaning this model doesn’t just look at your current credit status, it looks at your credit behavior over time.

🕒 What’s Different About FICO 10T?

Here’s what makes FICO 10T different (and a bit smarter):

Trended Data: Instead of just seeing your balance today, it looks at how you've managed your credit over the past 24 months.

Consistent Payments Matter More: If you’re steadily paying down your balances, that can help you more than before.

High Balances Can Hurt More: If you regularly carry high balances even if you make payments, it could hurt your score more than with older models.

Personal Loans Scrutinized: FICO 10T takes a closer look at how you use personal loans, especially if you’re using them to pay off other debt but then build new debt again.

✅ What This Means for You

If you’re already managing your credit well, FICO 10T could actually help you. But if you’ve been relying on minimum payments and keeping balances high, this model may lower your score more than older versions.

Good habits that help with FICO 10T:

• Make more than the minimum payment when you can

• Keep credit card balances low

• Don’t open multiple loans without a clear repayment plan

• Pay on time, every time

💡 Final Thoughts

FICO 10T isn’t used by all lenders yet, but it’s becoming more common especially with credit card and personal loan approvals.

At Project 720, we’ll keep teaching you the habits that matter no matter the score model. The key is consistent, smart credit behavior over time.

Interested in learning more?
Purchase the FICO 10T E-Book for easy-to-follow tips, in-depth explanations, and real solutions to help you boost your credit score and take control of your financial future.