Major changes coming to calculating credit scores

New York • The math behind credit scores is getting an overhaul, with changes big enough they might alter the behavior of cautious spenders and riskier borrowers. Most notable for those with high scores: Abiding by the golden rule of “don’t close your credit-card accounts” may now hurt your standing. On the other side, those with low scores may benefit from removal of civil judgments, medical debts and tax liens. Beyond determining whether someone gets approved for a credit card, a credit score ...

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