Include Buy Now FICO, Pay Data After New Credit Score Model

FICO said it will be incorporated on Monday Buy Now, Pay Later (BNPL) Data Your payment method is popular, so you can get your credit score.

FICO Score 10 BNPL and FICO Score 10 T BNPL are the first credit scores from major credit scoring providers that incorporate this data. FICO said the score “considers the significant advances in credit scoring and the increasing importance of such loans in the US credit ecosystem.”

“Buy now, later loans play an increasingly important role in consumer financial lives,” said Julie May, FICO’s vice president of B2B scores. By expanding the FICO score 10 suite with these new models, the company said, “We will allow lenders to more accurately assess their credit readiness, especially for consumers with initial credit experience through BNPL products.”

This is why average credit scores in the US are falling

FICO said that leveraging input from the largest US lenders, integrating BNPL data into credit scoring was a “significant advancement that lenders can make responsible, more informed and accurate decisions. Expanding credit access. ”

AfterPay website for laptop computers arranged in Germantown, New York, USA on Saturday, May 4th, 2024. (Gabby Jones via Getty Images/Gabby Jones/Bloomberg)

FICO said these scores provide lenders with more visibility into consumer repayment behaviors, allowing for a more comprehensive view on credit preparation.

Lending services such as Afterpay, Klarna, Affirm and Paypal rose significantly as cash-bound consumers appeared to be trying to stretch their wallets. Fighting against sustained inflationhigh interest rates and student loan payments. It resumed in October 2023 after a suspension due to the Covid-19 pandemic.

The service allows consumers to purchase and pay in installments, often without interest or fees. However, if you are interested in a particular plan and consumers can be hit with late fees if they don’t have the right funds in their accounts Cover payments.

Clarna advertised at Washington, DC Metro Center Metro Station on June 3, 2025. (Stefani Reynolds / Bloomberg by Getty Images / Getty Images)

Buy Now, Pay Later: “Tickets to OverExpenses” Experts Say

Traditionally, they have been used for expensive items. However, as these are buying now, later funding options are very popular in the current economic environment, with more and more consumers taking advantage of them to pay for essentials like food.

Click here to get your Fox business on the go

Data from the April lendingtree report shows that 25% of such users used the service and purchased groceries from 14% of the previous year.