HomePostsWhat Is a FICO® Score? 

What Is a FICO® Score? 

A FICO Score is a type of credit score created by the Fair Isaac Corporation. Lenders use borrowers’ FICO Scores along with other details on borrowers’ credit reports to assess credit risk and determine whether to extend credit. FICO Scores range from 300 to 850 and can vary depending on the type of loan you apply for, e.g. an auto loan versus a mortgage. These scores consider factors in five areas to determine credit worthiness, including a borrower’s:

  • Payment history.
  • Current level of indebtedness.
  • Types of credit used.
  • Length of credit history.
  • New credit accounts.

Further reading

What Makes Up Your Credit Score?

See also Middle FICO® Score