For years, FICO credit scores have played a disproportionate role in our lives.

FICO, which is used by 90% of lenders in America, determines whether or not we can be approved for a mortgage, auto loan or credit card.

If you have an almost infinite access to credit, you can use credit to pay credit, as many people did.

Many lenders just ignored income, and used credit scores as a proxy for ability to repay.

That is why FICO recently announced that their new score, FICO 9, will reduce the impact of medical debt on credit scores.

Helping these new start-ups are companies that are looking for new sources of data that can help provide a more complete picture of credit risk.

These new lending models do not make it easier for people with a lot of missed payments and defaults to apply for new credit.