What do these changes mean for the average consumer? Those who already have a good credit score will likely see their score improve. Unfortunately, people who are already struggling financially may see their score decline. It’s estimated that about 40 million Americans could see their credit scores increase by 20 points or more, while an equal number may see their credit score drop by about the same amount.

Despite the changes to FICO’s formula, the main factors that determine credit scores haven’t changed, and common wisdom still applies. Make your payments on time, don’t apply for more credit than you need, and keep your outstanding card balances to a minimum.

If you’d like to keep closer tabs on your credit score as these changes take effect, you can check each of your credit reports once a year for free through the authorized website annualcreditreport.com.