Changes coming to the way your credit score is calculated

Firms to begin using "trended data" when calculating your score

WEST SPRINGFIELD, Mass. (WWLP) – Big changes could soon be coming to your credit score! Three major credit monitoring firms are changing the information they use to determine those scores.

Beginning this summer, they will use “trended data,” which considers your credit performance over time. That means consumers who pay down their debt will probably have a better credit score than someone who is accumulating debt, and only making monthly payments.

Peter Pashko, Jr. of West Springfield told 22News that this change may help encourage people to use their cards more sparingly.

“I would say don’t use it unless you can pay it at the end of the month, pay it off. I really don’t use my plastic unless it’s an emergency,” Pashko said.

Credit firms hope this will help alert them to warning signs, before a consumer gets into serious trouble.