What is a FICO Score?

Linda Bagley
What is a FICO Score? FICO stands for Fair Isaac & Company and is the name for the most well known credit scoring system, used by Experian. The credit bureau’s computer evaluates a complete credit profile and assigns a score, which is used to estimate credit worthiness. Each of the three bureaus (Experian, Trans Union, Equifax) employs its own scoring system, so a given person will usually have 3 separate … Read More

FICO Score – a Brief Explanation

Linda Bagley
FICO Score – a Brief Explanation When you apply for a mortgage loan, you expect your lender to pull a credit report and look at whether you’ve made your payments on time. What you may not expect is that they seem to be more interested in your “FICO” score. “What’s a FICO score?” is a common reaction. Each time your credit report is pulled, it is run through a computer … Read More