Know your FICO® Scores, improve your FICO Scores, save money
Whether you’re buying a home, a car or applying for a credit card lenders want to know the risk they’re taking by lending you money.
FICO Scores are the credit scores that most lenders use to determine your credit risk.
Your FICO Scores (you have 1 score from each of the 3 major credit bureaus) can affect how much money a lender will lend you and at what terms (interest rate).
So, taking steps to improve your FICO Scores can often help you qualify for better rates from lenders which can save you money!
FICO Scores Range
Take a look at the example FICO Scores report and you can see that it shows your FICO Scores in big bold numbers as well as a general indication of how your score relates to other U.S. consumers (bad to great).
FICO Scores range from 300-850 higher is better. You can also see that your FICO Scores look at several major categories as shown by the key ingredients on the right side of the sample report.
For more information about these general categories, see the What's in your score page.
Your FICO Scores are calculated using the information in your credit reports.
These reports contain all of the information that each credit bureau has on file about you.
This sample credit report shows a few examples of the types of information that the credit bureaus collect,
such as your credit accounts, how many times lenders have requested information about your credit (Inquiries),
and how many times lenders have turned your account over to a collection agency (Collections).