myFICO videos with text alternatives

30 second marketing video showing myFICO iOS app. Music plays, no dialog and no narration. 4 sections describe 4 features:

Check your FICO^® Scores — The score lenders use. Shows iOS app Scores tab with FICO Score version 8 from all three bureaus, and navigation to scores for mortgages, auto loans, credit cards, and other loans. Video zooms into analysis of TransUnion score, with sections What to Expect from Lenders and What's Hurting Your Score.

Prepare for your next loan. From Scores tab, zooms into Mortgages scores section, which shows mortgage scores from the 3 bureaus, and a Today's Rates section showing an example mortgage loan APR and monthly payment based on a 750 FICO Score.

Understand your FICO Score. From Scores tab, zooms into Insights section to view analysis of Payment History and Length of Credit History, with example credit data affecting each.

Monitor your credit. On Alerts tab, expands the score history graph to view a longer time period, then zooms into the alert details for a new inquiry alert. New inquiry alert screen shows score history graph and details like the company name and inquiry date, and option to dispute errors.

Video closes on the myFICO logo.

FICO logo with copy "Understanding Your Credit — A credit education series from FICO." Checkmark next to video title: "What is a FICO Score?"

Illustration of a person submitting an online credit application, then illustration of a woman with thought bubbles "Will I be approved?" and "How do they make that decision?"

[Narrator]: Why do you need to understand what a FICO Score is and how it's used? Because it's the credit score most commonly used by U.S. lenders.

Map of U.S. shown with copy "Used by 90% of top U.S. lenders." FICO Score chart shown at center of a graphic surrounded by illustrations of a woman with a mortgage, a student loan, an auto loan, and a credit card.

[Narrator]: Every day, thousands of lenders use it to more accurately understand your credit risk and make more well-informed credit granting decisions.

Illustration of a FICO Score represented by a donut-shaped graph, showing the score increasing from 300 to 850, with ratings increasing from Bad, to Not Good, to Good, to Very Good, to Great. A statement below the FICO Score donut is "Predicts the likelihood that you'll pay your bills on time."

[Narrator]: In a nutshell, the FICO Score is a number that predicts how likely you are to pay back a loan or other credit obligations in a timely fashion.

FICO Score donut is shown above representations of the three credit bureaus Equifax, Experian and TransUnion. Five types of Credit Grantors are shown below the credit bureaus: Banks, credit cards issuers, mortgage lenders, collection agencies, and courts. Illustration changes to show a credit report and a FICO Score for each credit bureau. A not-applicable FICO Score is shown to represent consumers who don't have any recently reported credit history and therefore do not have a FICO Score.

[Narrator]: The FICO scores are calculated from the data in your credit reports housed at the three main credit bureaus. The scores consider information about your payment history, use of available credit plus other factors. Most of us have FICO scores for each of our credit reports. Of course, if you don't have any recently reported credit history, you won't have a FICO Score.

Illustration of a FICO Score changing as time passes and credit events occur. FICO Score goes down in response to a missed payment, then up for a reduction in debt, then down for a new credit account, then up for the purging of a negative item.

[Narrator]: FICO scores are dynamic and can change up or down if and when your data at the credit bureaus changes and they're calculated in real time so they're current as of the time you or a lender requests them.

Illustration of a FICO Score represented by a donut-shaped graph, showing the score increasing from 300 to 850, with ratings increasing from Bad to Great. A statement below the FICO Score donut is "Lower risk for the lender… Better credit terms for you."

[Narrator]: FICO scores generally range from 300 to 850 — the higher the score the lower the risk for the lender.

Illustration of a woman looking at an Alert stating that her FICO Score increased to 736. Alert details show an amount paid down on credit cards of $850, an auto loan and a mortgage paid as agreed, no delinquency reported, and no new credit opened.

[Narrator]: Ultimately, your FICO scores are in your hands, because it's based on your credit habits as captured in your credit report.

Illustration of a woman with a credit report, FICO Score of 725, credit application, pay stub for $5,000, and the statement "four years as an owner." The woman gets a thumbs-up, representing a loan approval. Illustration of a man with a credit report, FICO Score of 712, credit application, pay stub for $2,500, and the statement "six months as a renter." The man gets a thumbs-down, representing a declined loan.

[Narrator]: Your FICO scores do not determine whether you're approved for credit or what interest rate is assigned — that's up to the lender — but it does help the lender make that credit granting decision.

Statement "Why do FICO^® Scores matter to you?" followed by four illustrations shown in quick succession. The first shows a woman applying for a retail credit card with a store employee saying "You are approved for a store credit card!" and a statement below the illustration of "FICO^® Scores make lending faster and fairer." The second shows three banks, with interest rates of 5%, 6% and 7% and the statement "It provides you with more credit choices at competitive rates." The third shows a couple applying for a loan, with the bank employee saying "Approved!" with the statement "Streamlines the application process." The fourth illustration shows 7 consumers with the statement "Same standards for all borrowers."

[Narrator]: So, why do FICO scores matter to you? First, it makes the lending process faster and more fair. It provides you with more credit choices at competitive rates and you'll get faster answers from lenders, since the scores streamline the application process, and it applies the same set of standards to all borrowers.

Illustration of a FICO Score represented by a donut-shaped graph, showing the score increasing from 300 to 850, with ratings increasing from Bad, to Not Good, to Good, to Very Good, to Great. A statement near the FICO Score donut is "FICO^® Score — Understand the Decision."

[Narrator]: Finally, as you prepare to apply for a loan and view your own FICO scores, you can see what a lender sees: your credit history all rolled up in a three-digit number that predicts your likelihood to pay your bills on time.

FICO logo with copy "What is a FICO^® Score? is a credit education video series brought to you by FICO's financial literacy program."

[Narrator]: Know your FICO scores. Understand what goes into your scores.

Footnote: FICO is the registered trademark of Fair Isaac Corporation in the United States and other countries. Fair Isaac Corporation is not a credit repair organization under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history, or credit rating.

FICO logo with copy "Understanding Your Credit — A credit education series from FICO." Checkmark next to video title: "How Lenders Use FICO^® Scores". Ten scenes follow.

On the left, an illustration of a bank, a credit card, a house and a hand holding money hover over an outline of the U.S. Statement above reads "90% of Top U.S. Lenders." On the right, illustrations of three FICO Score charts, represented by a donut-shaped graph, showing the score increasing.

[Narrator]: So, how do the 90% of top lenders in the U.S. use FICO^® Scores? They use them in a number of ways that matter to you.

Illustration of a woman checking her mailbox and receiving a letter indicating pre-approval for a $7000 credit line. Next to the woman is a FICO Score chart showing a score of 721. Statement above reads "How Lenders use FICO Scores."

[Narrator]: Received a pre-approved credit card offer recently? Well, there's a good chance your FICO Scores were used to identify you as a qualified prospect.

Illustration of a woman sitting behind a desk. The woman is labeled "Underwriter." Illustration changes to show a computer screen displaying a FICO Score Chart with a score of 750 beside the words "Approved" and "Declined." Green checkmark next to "Approved".

[Narrator]: Applied for credit recently? A FICO Score was likely used in the approval decision process.

Illustration of a man talking on his cell phone with a speech bubble that reads "Can I get a $500 credit line increase?." Another man appears on the left of the screen sitting at a desk also on his cell phone. A FICO Score Chart appears above, showing a score of 732. A speech bubble appears next to the second man saying "Approved!"

[Narrator]: Have you recently received a credit line increase on your credit card? Well, most lenders periodically get refreshed FICO Scores on their customers. Your credit line increase was likely a reward for your ongoing credit health.

Four illustrations appear on the screen. The first illustration is a couple standing in front of a house with a "Sold" sign. A FICO Score chart shows a score of 727. Statement above reads "Mortgage Approval." The second illustration is a man holding up a green credit card. A FICO Score chart shows a score of 715. Statement below reads, "Credit Card APR." The third illustration shows a woman at the checkout at a store. A FICO Score chart shows a score of 732. Statement above reads, "'Instant' Store Credit." The fourth illustration shows a cell phone screen that reads "+$750 Added Credit." A FICO Score chart shows a score of 748. Statement below reads "Limit Increase."

[Narrator]: FICO Scores help lenders understand if you are likely to pay as agreed and if they should extend you credit.

An illustration of a computer screen displaying a list of FICO Score ranges with corresponding illustrative APRs and Monthly Payments. On the right is an illustration of a car. Initially a low FICO Score range of 500 to 549 is highlighted, with a 15% APR and a per month payment of $700. Highlighted next is the FICO Score range of 550 to 599, with a 9.5% APR and a per month payment of $650. Shown but not highlighted is the FICO Score range of 600 to 649, with a 7% APR and a per month payment of $620. Highlighted next is the FICO Score range of 650 to 719, with a 5% APR and a per month payment of $600. Highlighted last is the FICO Score range of 720 to 850, with a 3.5% APR and a per month payment of $570.

[Narrator]: And lenders often use FICO Scores to set credit terms such as the amount of credit they'll give you or at what interest rate.

The scene is framed with the statements "To Reach a Lending Decision" and "Your FICO^® Scores are not the only information lenders use." An illustration of a FICO Score chart showing a score of 720 in the middle of the screen fades to show 2 documents. The first document is labeled "Credit Report," while the second document is labeled "Other Information." The other information document shows a list of "Income - $75,000 Annual Income," "Employment — 12 Years ABC Insurance," "Home Value - $178,000 Market Value," "Car Value - $18,000 Book Value," "Relationship — Checking and Savings Account."

[Narrator]: Now, as important as they are, your FICO Scores aren't always the only information lenders use. Along with FICO Scores, they may also consider your income, employment history, the value of your collateral — such as your home or car — or any existing relationships the lender has with you.

Illustration of a woman sitting at a table filling out an Online Credit Card Application on her tablet. Three FICO Score charts appear above showing scores of 727 for Equifax, 720 for Experian and 699 for TransUnion. The woman looks up as a question mark appears. "Approved" stamps show on first two FICO Score charts showing 727 and 720 while a "Declined" stamp appears on the last chart showing 699.

[Narrator]: Keep in mind, too, that for most credit evaluations, such as a credit card application, lenders will use a FICO Score from just one of the three credit bureaus. However, the applicant typically doesn't know which of the three credit bureaus the lender will use.

The same FICO Score charts for each of the three bureaus shift down on screen at the statement "Mortgage or Home Equity Loan" appears above. To the left a woman labeled "Lender" appears, then a man labeled "Applicant" appears on the right. A thought bubble fades in above the Applicant that reads "I better monitor my FICO Scores!."

[Narrator]: But for a mortgage or a home equity loan it's a little different. Lenders will usually take into account a FICO Score from each of the three credit bureaus on all applicants. Now, that's a really good reason to monitor your FICO Scores.

FICO Score chart on the left shows a score of 650 labeled "Not Good" while an illustration of a car on the right appears beneath a statement that reads "15% Interest Rate - $700 Monthly Payment." The score chart increases from 650 to 750, labeled "Very Good," as the interest rate decreases to 3.5% and the payment decreases to $570. Screen turns blue with a statement that reads "Be Sure to Monitor Your FICO Scores."

[Narrator]: So the bottom line is this: higher FICO Scores can make a substantial difference in what people like you pay for a loan. So, be sure to monitor yours, so you can understand how lenders see you and understand your financial health.

FICO logo with copy "How Lenders Use FICO^® Scores is a credit education video series brought to you by FICO's financial literacy program."

Footnote: FICO is the registered trademark of Fair Isaac Corporation in the United States and other countries. Fair Isaac Corporation is not a credit repair organization under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history, or credit rating.

FICO logo with copy "Understanding Your Credit — A credit education series from FICO." Checkmark next to video title: "Managing your FICO Scores?"

Map of the United States with outlines of people shaded blue, representing a FICO Score less than 740, or green, representing a FICO Score of 740 or greater. One of the green outlines has a speech bubble that reads "Can I really be a 740? (very good)." The word "Yes" appears.

[Narrator]: Did you know it's estimated that over 40% of U.S. consumers have FICO scores of 740 or greater? That's a lot of people who likely have access to more credit options and at better rates.

Illustration of a woman with speech bubble that reads "Managing one's financial health takes TIME and PERSEVERANCE." The words "Quick Fixes" appear. A red circle appears around "Quick Fixes" and a slash appears through those two words. An illustration of a credit report appears with a statement below that reads "Evolve over the LONG TERM."

[Narrator]: The good news is having access to more affordable credit is an achievable goal for anyone. However, achieving one's financial health can take both time and perseverance and a longer-term focus.

Illustration of a man sitting in front of a computer as three circular charts appear above him indicating FICO Scores from all three credit bureaus. Score charts turn into credit reports. Man's speech bubble reads "Ah! That's how lenders see me." A statement appears, "Credit reports are the foundation of your FICO^® Scores." Red circle appears on one of the credit reports, and man looks at this credit report with speech bubble that reads "That's not correct!"

[Narrator]: Start by accessing and evaluating your FICO Scores. They'll help you understand how lenders evaluate your credit risk. Because the credit report is the foundation of your FICO Scores, make sure the reported data is accurate. If you see errors, follow the dispute instructions to get those errors resolved.

Blue screen appears with the statement "Educate yourself about Credit Score Dynamics." The words "Credit Score Dynamics" move to the top of the screen and remains there for the rest of the video.

[Narrator]: Then educate yourself about credit score dynamics.

Illustration of man sitting in front of a computer. A statement next to the man reads "Ontime payment is very important." View of man's computer screen shows payment reminders for a mortgage, a car loan and a credit card. The statement then changes to "3 MISSED PAYMENTS!" View changes to man sitting at his computer with a speech bubble that reads "Gotta get and stay current!!" with a statement to the side that reads "Most negative items deleted off the credit report after 7 years."

[Narrator]: Paying bills on time has the greatest impact on a FICO Score. If necessary, set up automatic alerts as payment reminders. Missed payments‚ especially recently missed payments, can substantially impact a FICO Score, so it's important to get and stay current.

Illustration appears of a credit card next to a graphical representation of a credit limit of $5,000 with a balance of approximately $2,500. Balance falls to zero and the word PAID appears over graph. View changes to an Illustration of a man at a car dealership speaking with a salesman. A statement reads "Apply for credit over a short period of time."

[Narrator]: Keep credit card balances well below credit limits. Pay off debt, don't just move it around. When shopping for a home, auto or student loan, do it over a short period, so the inquiries get treated as a single search for credit. This tactic is often known as "rate shopping."

Illustration of a man waving 4 credit cards. A statement reads "Avoid short term strategies" Man's speech bubble reads "INCREASED CREDIT!!" Score chart shows FICO Score decreasing. Man's speech bubble reads "That's not what I wanted!"

[Narrator]: And avoid short-term gimmicks such as closing unused accounts or opening new ones just to increase available credit. These tactics may actually have the opposite effect of what was intended. In other words, only apply for new credit accounts when needed.

Illustration of a man with image of a clock, a calendar, a graphical representation of credit utilization and a score chart. As time passes on the clock and calendar, the credit utilization increases, and the FICO Score in the score chart decreases. The man's speech bubble reads "I'm not going to do that again!" As more time passes on the clock and calendar, the credit utilization decreases, and the FICO Score in the score chart increases. The man's speech bubble reads "I'm making smarter financial decisions." Man looks at his phone with speech bubble that reads "Your Credit Balance Decreased $1,000. New FICO^® Score = 752!" FICO Score chart on the right reading "735 Very Good" adjusts to read "752 Very Good."

[Narrator]: Then continue to check your FICO Scores over time to see how your financial decisions impact your scores. Learn from the information you'll receive explaining the top reasons impacting your FICO Scores and change your behaviors accordingly. And finally keep checking your progress. FICO Scores are dynamic and change as the underlying bureau data changes.

FICO Score chart with score starting at 650 and increasing up to 850.

[Narrator]: The bottom line is this: Understanding your FICO Scores over time and adjusting your financial behavior is a vital part of your financial health and can help you get the credit you want at more favorable rates.

FICO logo with copy "Managing your FICO^® Scores? is a credit education video series brought to you by FICO's financial literacy program."

Footnote: FICO is the registered trademark of Fair Isaac Corporation in the United States and other countries. Fair Isaac Corporation is not a credit repair organization under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history, or credit rating.

FICO logo with copy "Understanding Your Credit — A credit education series from FICO." Checkmark next to video title: "What goes into FICO Scores?"

Two men appear on screen. One has a speech balloon that reads "Can you loan me $500 for my rent?" then another speech balloon that reads "You know I'll pay you back!" The friend loans the money, then has thought bubbles of a man with an overdue bill, a man carrying a large weight labeled debt, and a man talking to multiple other people.

[Narrator]: Consider this: if you were lending your own money to a friend, you'd want to make sure you'll get paid back. You'd probably wonder: have they paid their past debts on time? How much debt do they already have? And who else are they approaching for the loan?

A statement reads "FICO Scores - We help lenders answer these questions every day," and then "FICO Scores - Our mathematical formula makes lending faster, safer & fairer." Next is an illustration of a computer producing a FICO Score. Then on the left, an illustration of a house with a mortgage, a car with an auto loan, and a television with a credit card. On the right is a FICO Score chart showing a 725 Score, labeled Very Good. A statement below the chart reads "Understand how your credit activities and behaviors are considered."

[Narrator]: FICO scores help lenders answer these same questions, every day, but through a mathematical formula that makes the lending decisions faster, safer and more fair. So it's really important you understand how your credit activities and behaviors are considered when calculating FICO Scores.

An animated pie chart displays the ingredients of a FICO Score, including Payment History at 35%, Total Debt at 30%, Length of Credit History at 15%, New Credit History at 10%, and Types of Credit Used at 10%. The pie chart splits to show only Payment History and Total Debt.

[Narrator]: FICO scores focus on five key predictive categories: your payment history, how much you owe, how long you've had credit, if you've recently sought new credit, and the types of credit you've used. Clearly, your payment history and level of debt substantially drive your FICO scores.

Focus shifts to Payment History, at 35% contribution to a FICO Score. The statement "Missed Payments" appears with three examples. First, a Car Loan, 1 time 30 days late 6 years ago. Second, a Sales Finance loan, 1 time 60 days late 3 years ago. Third, a Credit Card, 2 times 30 days late 4 months ago. Next within Payment History appears "Debts turned over to a collection agency," followed by "Foreclosures or Bankruptcy." Then a statement appears "Recent, frequent and severe negative items have a bigger impact."

[Narrator]: Have you missed payments? If so how often? How recently? And how late were they? Have you had debts turned over to a collection agency? Do you have foreclosures or have you filed for bankruptcy? The more recent, frequent, and severe the reported negative items are, the bigger the impact on your scores.

Focus shifts to Total Debt, at 30% contribution to a FICO Score. Illustration of three credit cards with increasing levels of debt, one with the label "MAXED." Next is an illustration of three credit cards and 4 bills. Then follows a single credit card with available credit of $10,000 and used credit of $7,000 for a 70% utilization ratio. Then appears a statement "Overextended? You're more likely to miss future payments."

[Narrator]: Next, there's the debt you're already carrying: Are your credit cards nearly maxed out? How many accounts with balances do you have? How much of your available credit is being used? If you're overextended, you're more likely to miss future payments.

Focus shifts to Length of Credit History, at 15% contribution to a FICO Score. A list of three loans is shown: First, a Student Loan — opened 5 years ago, second a Car Loan — opened 4 years ago, and third a Credit Card — opened 3 months ago. A list of credit history statistics is shown: First, Age of Oldest Credit — 5 years, second Age of Newest Credit — 3 months, and third Average Age of Credit — 3 years.

[Narrator]: Then, there's how long you've had established credit, from your oldest to your newest account, and an average age of all your accounts.

Focus shifts to New Credit History, at 10% contribution to a FICO Score. A statement shows "New credit applications — Last 12 months" and then changes to "Inquiries that don't count against you: Promotional, Consumer Disclosure, Insurance, or Employment."

[Narrator]: FICO scores also consider how often you've actively applied for credit in the past year. Rate shopping is accommodated for, and promotional, insurance and employment inquiries don't count against you.

Illustration of a woman in a FICO shirt pointing to a pie chart showing the ingredients of a FICO Score, including Payment History at 35%, Total Debt at 30%, Length of Credit History at 15%, New Credit History at 10%, and Types of Credit Used at 10%. Pie chart turns into a score chart displaying a 725 FICO Score. A statement reads "Understand what goes into your FICO Scores."

[Narrator]: Whenever you apply for credit there's a good chance your lender is using FICO Scores to help make that approval decision. So, it's important that you understand your FICO Scores‚ because it could help you know whether you qualify for low rates on your next loan.

FICO logo with copy "What goes into FICO^® Scores? is a credit education video series brought to you by FICO's financial literacy program."

[Narrator]: Know your FICO scores. Understand what goes into your scores.

Footnote: FICO is the registered trademark of Fair Isaac Corporation in the United States and other countries. Fair Isaac Corporation is not a credit repair organization under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history, or credit rating.

FICO logo with copy "Understanding Your Credit — A credit education series from FICO." Checkmark next to video title: "Which Credit Scores Matter?"

Illustration of a man on the screen as a thought bubble appears to his left showing a truck. Then as the truck disappears a thought bubble to the man's right shows a house.

[Narrator]: So, you're thinking about getting a new car? Or maybe purchasing the home of your dreams? You'll need financing.

Illustration of a man sitting at a computer searching the internet for credit scores. Six advertisements flash across his computer screen reading 1) "LOOK! Credit Score," 2) "Monitor Your Credit Reports! Start," 3) "GET YOUR FREE CREDIT SCORE! CLICK!," 4) "KNOW YOUR CREDIT RATING — A B C D E F," 5) "FREE 5 DAY TRIAL — Credit Score," 6) "THE ONLY SCORE YOU NEED!." Man sitting at computer appears confused.

[Narrator]: So, you'll want to first check your credit scores, to make sure your credit is in tip-top shape. So, which credit scores should you look at? You see a lot of advertisements about different credit scores — some are free, some are on different scales, and all of them claim to be the only credit score you need. It can be really confusing, but it doesn't have to be.

FICO Score chart shows a score of 528 rolling to 725. Statement above reads "Know your FICO Scores" as an additional statement fades in on the right reading "The scores used by 90% of the top U.S. lenders!". Illustration of man sitting at desk appears happy.

[Narrator]: Simply focus on your FICO Scores — because 90% of top lenders use FICO Scores to make lending decisions — not those other scores.

Illustration of man sitting at computer with a thought bubble that states "But, what about those other scores?". Illustration changes to two men at a car dealership; one man is holding up a paper with a green "educational" score as another man has a speech bubble that reads "But, we don't use that credit score…"

[Narrator]: So what do you need to know about these other scores? You shouldn't rely on them to estimate your terms and rates — most lenders simply don't use them in lending decisions.

A table is shown with a row highlighted in yellow that displays an interest rate of 4.4% associated with an "Educational" score of 724. Then a row is highlighted in yellow that displays an interest rate of 5.1% associated with a FICO Score of 692.

[Narrator]: So, they may confuse you into thinking you qualify for better rates than you actually do.

Illustration of a man typing at his computer. Computer screen displays FICO Score charts for the three credit bureaus; Equifax, Experian, and TransUnion. Below each Score chart appears a list that reads "Credit History, Payment History, Mortgages, Credit Cards, Auto Loans." A dotted line links the bureau to the score chart as the scores within each chart adjust up and down.

[Narrator]: Keep in mind you most likely have multiple FICO Scores based on your credit reports housed at the credit bureaus: Equifax, Experian and TransUnion. Each score could be different, often times, as the information about you at each bureau can vary. If the underlying data is the same, your scores will likely be very close to one another. If it's different, your scores may be different.

Illustration of a man sitting at a computer with a thought bubble that states "Which FICO^® Scores matter most?." Image changes to 3 FICO Score Charts with bureaus Equifax, Experian and TransUnion listed below, as a man labeled "Auto Loan Lender" looks at a question mark beneath each FICO Score chart. Lines appear linking the three score charts to the auto lender, representing the lender looking at FICO Scores from one, two or all three credit bureaus.

[Narrator]: So, if there's FICO Scores at all three bureaus, which one matters most? Well, they're equally important for a very simple reason: you may not know which credit bureau your lender will access when evaluating your credit application! They may access one, two, or all three, in their credit decision process.

Illustration of a man sitting at a computer with a thought bubble that displays FICO Score charts for each of the three bureaus.

[Narrator]: So, empower yourself: focus on regularly monitoring your FICO Scores — the scores used by most lenders. The credit scores that matter.

FICO logo with copy "Which Credit Scores Matter? is a credit education video series brought to you by FICO's financial literacy program."

Footnote: FICO is the registered trademark of Fair Isaac Corporation in the United States and other countries. Fair Isaac Corporation is not a credit repair organization under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history, or credit rating.

FICO logo with copy "Understanding Your Credit — A credit education series from FICO." Checkmark next to video title: "Additional FICO Score Versions"

Illustration of a woman sitting in front of her computer. Computer screen displays a FICO Score chart with a score of 667 rolling to 719 — Good. Statement above reads "FICO Score 8." Statement below reads "Used by 90% of top U.S. lenders!" A hand clicks on the FICO Score 8 chart and the words "Most Predictive, Most Recent, Most Widely Used" appear. Screen changes to show the FICO Score 8 chart above text outlining the 5 ingredients of the FICO Score with their ratings listed as "Payment History — GOOD", "Amount of Debt — EXCEPTIONAL", "Length of Credit History — GOOD", "New Credit — VERY GOOD", and "Credit Mix — VERY GOOD."

[Narrator]: You know your FICO^® Scores are important, as they are the credit scores used by 90% of the top lenders. FICO Score 8 is the most predictive and most recent FICO Score version most widely used by lenders. This is the version on which you should primarily focus. That's why it is prominently featured when you get your FICO Scores.

FICO Score 8 displays on the right hand side while statement on the left reads "Additional FICO Scores — Versions Commonly Used in Mortgage Lending, Versions Commonly Used in Auto Lending, Versions Commonly Used in Credit Card Lending." A hand clicks on "Versions Commonly Used in Mortgage Lending" and to the right the hand scrolls through FICO Scores for FICO Score 5 based on Equifax data, FICO Score 4 based on TransUnion data, and FICO Score 2 based on Experian data. Hand clicks on "Versions Commonly Used in Auto Lending" as FICO Auto Score 8 shows on the right. Then hand clicks on "Versions Commonly Used in Credit Card Lending" and FICO Bankcard Score 8 shows on the right.

[Narrator]: Along with FICO Score 8 you'll get additional FICO Score versions with each credit report you obtain with your FICO Score product. Included are FICO Score versions that may be used by some lenders who have yet to switch to FICO Score 8, versions predominantly used in mortgage lending decisions, as well as industry specific auto and bank card versions that have a slightly wider 250 to 900 score range.

Text appears on screen that reads "722 — FICO Score 5 based on Equifax data, 719 FICO Score 8 based on Experian data, 732 FICO Score 4 based on TransUnion data". To the right a pie chart appears showing the ingredients of a FICO Score: Payment History at 35%, Total Debt at 30%, Length of Credit History at 15%, New Credit History at 10% and Types of Credit Used at 10%.

[Narrator]: It's likely that your scores from different versions will not be the same. However, as the versions are all built on a similar foundation, generally speaking many people will see that the scores are relatively close to each other across the versions.

Text on screen reads "771 — FICO Score 8 based on Equifax data, 780 FICO Auto Score 8 based on Equifax data." Illustration of a woman below with a thought bubble of a car. The woman points to the "FICO Auto Score 8."

[Narrator]: For example, if you score high on a FICO Score 8 base version, you'll likely score high on a FICO Auto Score 8. It's important to focus on the FICO Score version that is most relevant to you given your near-term credit needs.

Illustration of a woman and a man shaking hands in front of a house with a ‘SOLD' sign. Text on screen reads "720 FICO Score 2 based on Experian data, 725 FICO Score 4 based on TransUnion data, 715 FICO Score 5 based on Equifax data."

[Narrator]: If you're buying a house or refinancing your mortgage, check the base FICO Score versions most commonly used in mortgage lending.

An illustration of a car dealership with same woman and man shaking hands. Text on screen reads "752 FICO Auto Score 8 based on Experian data, 744 FICO Auto Score 8 based on TransUnion data, 758 FICO Auto Score 8 based on Equifax data." Text is replaced with new text that reads "767 FICO Auto Score 2 based on Experian data, 758 FICO Auto Score 4 based on TransUnion data, 751 FICO Auto Score 5 based on Equifax data."

[Narrator]: If you're buying a car, look at your FICO Auto Scores, as the majority of auto loan applications are reviewed using this industry-specific version.

Illustration of a woman at a bank applying for a credit card. Text on screen reads "745 FICO Bankcard Score 8 based on Experian data, 749 FICO Bankcard Score 8 based on TransUnion data, 753 FICO Bankcard Score 8 based on Equifax data." Text is replaced with new text that reads "739 FICO Score 8 based on Experian data, 734 FICO Score 8 based on TransUnion data, 732 FICO Score 8 based on Equifax data, 740 FICO Score 3 based on Experian data."

[Narrator]: If you're applying for a new credit card, check out your FICO Bankcard scores or base FICO scores.

Illustration of a woman in the middle of the screen as a personal loan appear to her right, and a student loan and retail credit card appear to her left. Illustration is replaced by text that reads "740 FICO Score 8 based on Experian data, 734 FICO Score 8 based on TransUnion data, 732 FICO Score 8 based on Equifax data." Additional text appears on the screen that reads "737 FICO Score 2 based on Experian data, 736 FICO Score 4 based on TransUnion data, 741 FICO Score 5 based on Equifax data."

[Narrator]: If you're seeking other types of credit such as a personal loan student loan retail credit or other types of credit, generally focus on your FICO Score 8 version or other FICO Score base versions.

Illustration of a calculator attached to a FICO Score chart with score showing "N/A." As bills, statements and credit cards fly into the calculator, the score increases. Text appears below that reads "All FICO Score versions consider… — If you pay bills on time — Amount of credit debt — How often you apply for credit."

[Narrator]: The good news is: Regardless of FICO Score version, all FICO scores consider factors such as whether you pay your bills on time, amount of your credit debt and how often you apply for credit.

FICO logo with copy "Additional FICO^® Score Versions is a credit education video series brought to you by FICO's financial literacy program."

Footnote: FICO is the registered trademark of Fair Isaac Corporation in the United States and other countries. Fair Isaac Corporation is not a credit repair organization under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history, or credit rating.

FICO logo with copy "Understanding Your Credit — A credit education series from FICO." Checkmark next to video title: "Understanding your Credit Report"

Illustration of a man at a car dealership with a thought bubble about his credit report that turns into a question mark.

[Narrator]: You know your credit report, that thing lenders look at when you apply for a loan, is important. But what is it, exactly?

On screen statement reads "U.S. Credit Bureaus — Equifax, Experian, TransUnion." Animated graphic shows the three credit bureaus linked to you, a bill, a bank, a credit card issuer, a mortgage lender, a collection agency and a court. On screen statement reads "Thousands of Updates Daily!"

[Narrator]: Let's focus on the three main U.S. credit bureaus: they collect credit information from your bank, credit unions, credit card issuers, retailers, mortgage lenders, collection agencies and public court records.

Illustrative credit reports are displayed for each of the three bureaus. A statement reads "Previous Credit History. Current Credit History." The statement then changes to "All to Help Lenders Measure The Risk of Providing Credit."

[Narrator]: All of the information about you from all sources is compiled into a credit report, an electronic file based on your previous and current credit history. Lenders can then access these credit reports to get a better understanding of whether you're a qualified or risky candidate for credit.

As a clock and calendar on the right indicate passing time, an illustration of a credit report on the left shows a FICO Score changing up and down as information on the credit report changes. A statement appears "New Information Can Impact Your FICO^® Scores" with an arrow to illustration of credit report.

[Narrator]: Credit reports are dynamic, they change when lenders update your information or when new public records about you are posted. These changes can impact your FICO scores.

Illustration shows a credit report with first section highlighted. A statement reads "What's Included? Name, Address, Social Security Number." A statement appears "Personal information is used to find your file when a lender requests your credit report."

[Narrator]: Now, let's look at exactly what the credit report contains. Start with your personal identity information: name, address and social security number. This information doesn't impact your credit score. However, you can protect against potential identity theft by checking for accuracy.

Illustration shows a credit report with second section highlighted. A statement reads "What's Included? Bankruptcies."

[Narrator]: Your reports also contain public records the court collects on bankruptcy.

Illustration shows a credit report with third section highlighted. A statement reads "What's Included? Collection for No/Lage Payment and Payment Demands."

[Narrator]: If you've ever had an unpaid bill turned over to a collection agency, that will likely show up on your report too.

Illustration shows a credit report with fourth section highlighted. A statement reads "What's Included? Trade Lines. Credit Cards, Car Loans, Mortgages, Retail Accounts, Student Loans."

[Narrator]: Information called trade lines form the heart of the report, that's information about your various credit accounts, such as: when they were opened, the loan amount, and your current balance and payment history. Creditors typically report this information on a monthly basis.

Illustration shows a credit report with fifth section highlighted. A statement reads "What's Included?" Cartoon of a banker with speech bubble "I need a credit report for..." transitions into a statement "Promotional Inquiries, Consumer Disclosure Inquiries, Credit Application Inquiries."

[Narrator]: Finally, whenever someone accesses your credit file, an inquiry is reported. There are many types of inquiries, but the FICO scores only consider inquiries resulting from a credit application.

Illustration of a credit report. A statement reads "The Foundation of Your FICO Scores." The FICO logo appears, followed by an illustration displaying three computer monitors showing credit reports for the three US credit bureaus, with illustrative FICO Scores.

[Narrator]: All of this information forms the foundation of your FICO scores, a measure of your credit risk used by 90% of the top lenders. Now, FICO isn't a credit bureau, but rather a company founded on scoring credit reports. Working closely with the credit bureaus, FICO creates scores based on the bureau's data.

Illustration of a man shaking another man's hand at a car dealership. A speech bubble says "You're approved!." A statement appears "You CAN & SHOULD review your credit reports!"

[Narrator]: Scores that make it easier for lenders to understand credit reports and determine your credit worthiness. And remember, you can and should review your own credit reports. Monitor them, check them for accuracy, and see what factors are impacting your FICO Scores.

FICO logo with copy "Understanding your Credit is a credit education video series brought to you by FICO's financial literacy program."

Footnote: FICO is the registered trademark of Fair Isaac Corporation in the United States and other countries. Fair Isaac Corporation is not a credit repair organization under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history, or credit rating.