FICO Launches Credit Scoring Models with BNPL Data: Boosts for Responsible Users, Penalties for Delinquencies

Can BNPL Impact Credit Scores? A Look At FICO’s New Announcement

(image credit: iStock/Nationwide Marketing Group) Editor’s Note: This article originally ran on Independent Thinking, Nationwide Marketing Group’s official blog, and is republished with permission. For more information, visit nationwidegroup.org/independentthinking/. Buy Now, Pay Later (BNPL) is a fast-growing trend in the world of consumer finance. And it’s no wonder. As an alternative to paying by credit card or applying for long-term financin…

FICO Launches Credit Scoring Models with BNPL Data: Boosts for Responsible Users, Penalties for Delinquencies

The Dawn of BNPL in Credit Scoring In a move poised to reshape the landscape of consumer credit, Fair Isaac Corp., better known as FICO, has unveiled new scoring models that for the first time incorporate data from “buy now, pay later” (BNPL) services. Announced in June, these models—FICO Score 10 BNPL and FICO Score 10 T BNPL—aim to provide lenders with a more comprehensive view of borrowers’ financial behaviors by factoring in BNPL repayment h…