FICO credit score system updates to affect millions of Americans

The company that turns your credit history into what’s known as a FICO score is updating how that number is calculated. These scores are used to determine whether you can receive a new credit card, or get a home or auto loan. Jill Schlesinger joins “CBS This Morning” to discuss a new report that shows the average U.S. FICO score hit an all-time high of 703 last year. Source