If you're looking to borrow money for a car or home, Clark recommends that you take the time to go to more than one lender. Shopping around is more important than ever.
What Is the FICO Resilience Index?
What Does the FICO Resilience Index Mean for You?
And he says that the new score isn't necessarily a good thing or bad thing for consumers. Here's how he explains it:
Takeaway
<span style="font-weight: 400;">"In a time like this, with lenders reacting so differently, it's much more important even than it regularly is, to go to multiple lenders, because even a 'yes' could carry a very different interest rate with one lender vs. another — even more than it normally would," Clark says.</span>
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[ This article was originally published on Clark.com ]
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