There are big changes coming to the way our credit scores are calculated. Financial professional Brad Allen talks with Milwaukee’s WTMJ-4 about how these changes will impact all of us and offered tips to boost your credit score.

Starting in July, there are a number of things that will no longer show up on your credit report, which will affect both your FICO score and your VantageScore. Certain tax liens, civil judgments and most medical debt will be taken out of the equation when calculating your score. People with those items on their credit reports may see their credit score go up by as much as 20 points.

VantageScore, which represents the three major credit bureaus, will now be using “trended data” to calculate your credit score. Trended data tracks borrowing behavior over time, instead of using a snapshot of your credit usage at the time your score is pulled.

  • Pay Off Debt
  • Keep Balances Low
  • Open New Accounts When Needed

Get your free credit report here.