Improve Your Fico

What is a FICO score?

FICO score is a type of credit score created by the Fair Isaac Corporation. Lenders use borrowers’ FICO scores along with other details on borrowers’ credit reports to assess credit risk and determine whether to extend credit.

Why is a FICO score important?

A credit score helps lenders evaluate a credit report because it is a number that summarizes credit risk, based on a snapshot of a credit report at a particular point in time. It is important to understand that not every credit score offered for sale online is a FICO® Score.

What is a good FICO score?

FICO scores range from 300 to 850: 800+ is exceptional. 740 to 799 is very good.670 to 739 is good and represents the median credit score range.