On January 23rd, the Fair Isaac Corporation announced the latest release of their FICO score suite, which will be available for lenders to start using sometime this summer.

What is a FICO score?

The Fair Isaac Corporation (FICO) is the oldest and best-known credit reporting agency. Your FICO score is intended to help financial institutions and other lenders estimate your likelihood to pay them back any borrowed money. It impacts the interest rates and length of loan terms at which you may be approved, and it can even have an impact on the approval and terms of various insurance and utility companies.

Why is FICO changing?

FICO comes out with an updated scoring system every few years. The goal of the latest update in FICO scoring is aimed to better assist lenders in predicting customer's trends in order to make decisions on lending easier. According to the company, the new scoring system will outperform all its predecessors. FICO states that lenders will be able to reduce their defaulted portfolios by up to 17 percent under the new suite.

How is FICO changing?

The new suite of scores is called the FICO 10 score suite. It gives lenders a more precise assessment of your credit risk by considering trended data. This trended data is collected by reviewing how you have managed accounts on your credit report within the last 2 years, differentiating from the older FICO suites, which only gave a one-month trending snapshot.

Your monthly payments in credit cards are weighed higher under the changes. Lenders can now see how much you pay on your credit card balances every month. Consumers who pay off their balances in entirety every month will be considered low-risk customers. The trended data will also show lenders if your overall credit card balances are lessening or rising over time, which can add to your credit risk.

Late payments and credit utilization will also have a higher impact on your score. Your ratio is your credit card balances compared to your total credit available. For example, if you have 30,000 in available credit and 10,000 in credit card debt, your ratio would be 30%. The lower your percentage, the better your score.

Personal loans have a better chance of decreasing your score under the 10 suite. For example, if you have taken out personal loans to pay off credit card debt within the two years and in turn have racked up more credit card debt, your score is likely to decrease even more.

Effects on your current score

Most likely, if you currently have a good credit score (670 and up), you're more likely to have an even better score under the 10 suite. Conversely, if you have a low score, that number is more likely to decrease even more. The good news for people with low scores: FICO score 8 is still the most widely used version amongst lenders, thus the changes are not likely to have a considerable impact at this time. The traditional aspects that go into affecting your credit score aren't changing. FICO score ranges will remain as low as 300 and as high as 850.

The bottom line: What you can do

Best practices to attain a good credit score aren't changing. However, paying closer attention to your credit utilization ratio, paying monthly credit card balances in full, and making sure you aren't missing payments will greatly pay off. To keep your credit utilization ratio low, avoid closing out unused credit cards. Also, since the FICO 10 suite looks back further into your credit history, planning far ahead for lending needs is advised more than ever.

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I’ve been feeling very British lately. Not in a Union-Jack-obsessed, “Keep Calm and Carry-On” way. I went through that phase in 2012 with everyone else… no thank you. And it’s not even a surge of patriotism catalyzed by the Queen dying — I’m firmly team Diana and team Meghan.

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Southwest Airlines Sale 2022

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Quiet Quitting is the latest trend among Gen-Z TikTok that encourages setting boundaries at work

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Toni Morrison has an anecdote about her first ever job, which was cleaning some neighborhood woman’s house. The young Toni arrived home after work one day and expressed her troubles to her father. But he didn’t provide the sympathy she expected. Instead, he gave her something better — his advice:

“Listen. You don’t live there. You live here. With your people. Go to work. Get your money. And come on home.”

Years later, she wrote about this remarkable experience for the New Yorker and said, in hindsight, this is what she learned:

1. Whatever the work is, do it well—not for the boss but for yourself

2. You make the job; it doesn’t make you

3. Your real life is with us, your family

4. You are not the work you do; you are the person you are

What Morrison so eloquently articulated was setting boundaries. I revisited this piece during the pandemic when working from home ramped up in earnest. Back when work was one of the few things that anchored my day.

Without a physical office, the pandemic shattered the work/life balance for many people. There was no more of that physical separation that Morrison talked about. There is no coming home from work physically. There is no real life to come back to — just a manufactured commute to your laptop in your makeshift home office.

But, par for the course, Gen Z are navigating this boundaryless era using TikTok. While internet gurus promote hustle culture and constant online availability since you’re not getting face time with your managers, there’s a trend in town — “quiet quitting.”


@zaidleppelin On quiet quitting #workreform ♬ original sound - ruby


The trend arose from the depths of the pandemic. Layoffs, salary cuts, and furloughs proved that their employers did not care about their hard-working employees.

The Washington Post dubs quiet quitting as a fresh trem for an old phenomenon: employee disengagement. In many cases, it’s a response to burnout. For much of Gen Z, it’s a way of establishing healthy boundaries in the office and resisting the pressure of the rat race. After all, why work yourself to the bone for a company that just proved it’s ready and willing to let you go?

Despite the term’s negative connotations, Quiet Quitting can provide an empowering shift in thinking for employees.

For far too long, employees have been indoctrinated with a slew of toxic workplace advice. Faced with these old misconceptions and lacking job security or clear paths for advancement, Gen Z is untethering their identities from work.

Quiet quitting — therefore — might be a bit of a misnomer. These employers aren’t completely disengaged. They’re certainly not launching Flight Club-esque sabotage attempts on their employers. NO. Contrary to media panic, Gen Z understands the value of a job — the fickle market they entered ensured that. But they also understand the value of life.

They’re doing what they’re being paid for. Nothing more, nothing less.

According to Chief, a private membership network focused on connecting and supporting women executive leaders, older generations should learn from this approach.

“Gen Z has already endured the largest seismic shifts to the career landscape than any previous generation, having started their careers in the middle of a pandemic that changed office culture forever and a gig economy that makes piecing together work more viable. They’re taking both those realities and therefore demanding more autonomy and flexibility than any other generation.”

Gen Z are less attached to job titles and statuses. They’re more concerned about their lives. Sure, this can lead to problematic outlooks on money and experiences — see the “I can earn my money back” TikTok trend. But it’s better than hustling for no reward. Besides, as some Gen Z-ers put it on TikTok, the office isn’t even a vibe.

“With the ability to work from anywhere and for more than just one place, Gen Z-ers are forging their own paths that don’t rely on old patterns set by previous generations and are redefining what “career success” looks like. Gen Z can take note, as more and more leaders are similarly pursuing multiple income streams of their own through the form of a portfolio career. The way in which work looks like and where it happens is evolving.”

With less single-minded focus on one job, some TikTok business gurus advocate shutting your laptops precisely at 5 pm. And then jump onto your side hustle. Do nails or lashes on the weekend. Become social media managers for your phone. Sell soap on Etsy (again … perhaps not in the Fight Club way).

But this valorization of side hustles is not about hustle culture, either. They say job security isn’t guaranteed. Learning new skills and develop an alternate income stream/s to keep you afloat. Just make sure you’re not left in the lurch. BTW inflation is here. So every little bit helps.

But where do you start? Watching TikToks can only get you so far. Try a course on LinkedIn Learning to sharpen up your skills and learn new ones that you can turn into a verifiable side hustle — or leverage in your job search if quiet quitting leads to … real quitting.

Learn on your own time with bite-sized videos or in-depth courses. Watch them after work, before you clock in, or on your lunch break. Then, after your courses are complete, you’ll have certificates prominently displayed on your profile that prove your skills.