Credit Basics Demystifying credit scoring and credit reports.

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 Report Display

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.

FICO Scores Report Display

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).

FICO® Score

The Score That Matters®

FICO Scores are the standard credit score in the US, used in more than 90% of lending decisions. Learn more

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myFICO is the consumer division of FICO. Since its introduction 20 years ago, FICO® Scores have become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use FICO Scores to make consumer credit decisions.

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FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
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