FICO Score

A FICO score is a type of credit score created by the Fair Isaac Corporation (FICO). FICO is the most common credit-scoring model used by lenders. According to this model, the higher your FICO score, the less likely you are to default on your loan. Your FICO score is determined by five factors using the information in your credit reports: your payment history, how much you owe on your debts, the length of your credit history, how much new credit you have and the types of credit you currently have in use.

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