Back to Home
FICO
(Credit Scoring Model)
FICO (Fair Isaac Corporation) scores are the most widely used credit scores in the U.S., ranging from 300–850. They evaluate credit risk based on payment history (35%), amounts owed (30%), credit age (15%), new credit (10%), and credit mix (10%).
Lenders use FICO scores to approve loans (e.g., 740+ for best mortgage rates), credit cards, and HELOCs. Unlike VantageScore, FICO penalizes authorized-user accounts less. The CFPB reports the median U.S. FICO score is 716 (2023). Building FICO requires on-time payments, low DTI, and diverse credit (e.g., installment loans + revolving credit). Free monitoring is offered via banks or SEC-regulated services.
Lenders use FICO scores to approve loans (e.g., 740+ for best mortgage rates), credit cards, and HELOCs. Unlike VantageScore, FICO penalizes authorized-user accounts less. The CFPB reports the median U.S. FICO score is 716 (2023). Building FICO requires on-time payments, low DTI, and diverse credit (e.g., installment loans + revolving credit). Free monitoring is offered via banks or SEC-regulated services.