A kinder, gentler credit score that's more forgiving of minor mistakes and other small consumer infractions has made its way to the market -- but don't get too excited. Two of the major credit bureaus, and more importantly, lenders, are in no rush to start using it.

The new score, called FICO 08, is the latest iteration of Fair Isaac Corporation (FIC) FICO credit score, which is calculated using a proprietary formula that takes into account data from one of your three credit reports. Scores range between 300 and 850 (the higher, the better).

Most lenders use some version of the FICO score to determine your eligibility for credit, and what interest rates and other terms they should extend to you. Out of the five variations of the classic FICO credit score developed since 1989, FICO 08 is the most forgiving. It ignores debts of $100 or less that went to collections (like the $30 cable bill you forgot to pay when you moved three years ago), glosses over the rare late payment and focuses more on your big credit picture than the status of individual accounts. The end result for many consumers? A much better score. And in times when credit scores can make or break your ability to buy a home or even secure a credit card, a more forgiving score can make a vast difference.

Too bad lenders aren't paying attention to FICO 08 -- and probably won't for another couple of years. And two of the three major credit bureaus, Equifax (EFX) and Experian, have yet to start using the score, either.

Equifax says it plans to do so in June. Experian, which stopped offering FICO scores to consumers Feb. 13, has yet to announce a launch date. (Experian spokeswoman Cynthia Baker declined to comment, citing pending litigation with Fair Isaac. In 2006, Fair Isaac filed suit against all three bureaus and their joint credit-scoring model, VantageScore Solutions, alleging unfair competitive practices. Equifax was dropped as a defendant in June.)

In fact, the only credit bureau to embrace FICO 08 is TransUnion, and even that was a slow process. Fair Isaac announced the new formula in mid-2007, but TransUnion didn t begin offering it to lenders until a few weeks ago, on Jan. 29. (Fair Isaac estimates the development time to make the formula work with each bureau s credit report data collection methods is 18 to 24 months.)

Even with one of the major credit bureaus onboard, getting lenders to embrace FICO 08 is going to be a decidedly uphill battle. Lenders must decide if the score offers enough benefit to offset the time and cost of retooling programs that use the formula, says Craig Watts, a spokesman for Fair Isaac. It can take a lender several months to [transition], and banks don t enter that process lightly, he says. And lenders that look at scores from multiple bureaus -- namely, mortgage lenders won t even begin testing FICO 08 until it s available from all three. (Steven Katz, a spokesman for TransUnion, says it s too early to gauge initial lender demand.)

Making matters worse, consumers may not gain access to their FICO 08 score until 2011 at the earliest, says Watts. Fair Isaac's credit score web site MyFICO.com only sells consumers scores from formula(s) that are in most demand from lenders. And given the delays by the bureaus and anticipated reluctance by lenders to adopt the score, that demand is going to take awhile to build up.

For now, consumers who want to ensure their score is as high as possible should focus on behaviors that will make them look good no matter what scoring model is used, says Katz:

Keep old accounts open

Credit-card issuers looking to reduce their own risk profile have been swift to close inactive accounts, which can do serious damage to your score by reducing your available credit. Before the credit crunch, using your card once a year was enough, says Curtis Arnold, founder of credit-card comparison site CardRatings.com. In order to ensure that your card stays open these days, you should make a purchase (it doesn t need to be pricier than a pack of gum) with your card at least once a month.

Pay on time

One late payment can push your score lower by 100 points or more, according to FICO. Set up automatic payments through your bank account at least a week in advance to ensure the payment arrives on time.

Check your credit report -- and fix errors

Your score is based on information in your credit report. Make sure you always have a report that accurately reflects your credit, says Katz. Dispute any errors you find with the credit bureaus. Consumers are entitled to one free report every 12 months from each of the three bureaus, accessible through Annualcreditreport.com.

Reduce your debt-to-credit ratio

The more you owe in relation to your available credit, the lower your score. Ideally, debts should total no more than 10% of your credit limit.