FICO Score

Your FICO Score is a three digit number ranging from 300 to 850 and is calculated by a mathematical equation that evaluates many different types of information on your credit report. This credit score was developed by Fair, Isaac and Company, Inc., and was designed to predict the possibility of a borrower becoming seriously delinquent on their credit obligations. Credit bureau scores, referred to as FICO scores, are based solely on information found in consumer credit reports. The credit bureaus use Fair, Isaac's software to calculate a score from your credit bureau information. Once the score is calculated, it is returned to the person or entity who has requested the information. Higher FICO scores represent lower credit risks, which typically equate to better loan terms.

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