What is a FICO Score - Credit Score? FICO stands for the Fair Isaacs Corporation who developed the math that almost all lenders rely on to determine a
potential borrowers ability to pay. The score, made up of a number
of different components will range from 200 to 800. While the actual number that is considered "good" has
varied over the years, generally speaking most lenders will not consider people with a scored of less then 620 as being a
valid candidate for a loan. Some of the factors that go into determining your FICO score
are: - Your payment history
- The length of your credit
history
- The total amount of your current debt
- The types of credit
that you use or have used
Click
the link below to download a report from the Fair Isaacs Corporation that goes into a great more detail.
DOWNLOAD PDF FICO REPORT
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