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FICO Score
A FICO score is a three-digit number between 300 and 850 that summarizes a person's credit risk based on their credit report at a particular point in time. The number tells a prospective lender how likely someone will pay on time, with higher scores indicating lower risk and with lower scores indicating higher risk.
Last updated: 31-Aug-2011
What is FICO Score?
The credit report that the score appears on shows:
- How the person pays
- How much he or she owes
- How long they have credit
- Any new credit has been taken on
- Different types of credit experience they've had.
Information the score does not look at on a credit report includes:
- Marital status
- Gender
- Race
- Name
- Address
- Income
- Assets
FICO stands for Fair Isaac Corporation which is a public company that provides analytics and decision making solutions which include the FICO credit score.