woman with good credit score Source: TierneyMJ/Shutterstock.

FICO adjusts its credit score modeling every few years to adapt to consumer behavior. This summer it will be rolling out FICO 10 and 10 T, which take new trends into account and are expected to hit those struggling financially the hardest.

Borrowers have used personal loans to consolidate debts and fintechs have raged into the market with new offerings, which bumped personal loans up 12% year over year, according to Experian. This is a first for FICO to distinguish personal loans as a separate category, and NPR reported that consumers have taken on a record $300 billion in personal loans. As a result, the new FICO 10 and 10 T place heavier emphasis on personal loans, negatively affecting the consumers who need the most assistance in getting their debts under control.

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