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FICO is hosting a month-long virtual event entitled “Building Resiliency: Adapting to the Challenges of Today.” With a series of webinars held across the globe, FICO subject matter experts will share learnings, best practices and strategies on topics that fall within six tracks: adaptability, digital customer engagement, risk management, operational efficiency, b…

The data is in, and the average U.S. FICO^® Score now sits at 711. This is 5 points higher than the average score just a year ago, and is likely to be viewed as a surprise result in light of the impacts that the COVID-19 pandemic has had on U.S. consumers and the global economy.  Those surprised by this latest figure may have thought that the FICO^® Score is an…

We recently shared that the national average FICO^® Score increased to 716 (as of April 2021). Our blog post on the subject highlighted that consumers in the lower score ranges were the biggest driver of the upward trend from 708 in the prior year. For example, for those consumers who had a FICO^® Score value between 550-599 as of April 2020, their average score went…

Do FICO Scores Consider Telco and Utility Data? The unequivocal answer is yes! FICO^® Scores have always considered telco and utility payment data that is furnished to the three nationwide U.S. credit bureaus: Equifax, Experian and TransUnion.  The inclusion of telco and utility payment information dates back to the release of the very first FICO Scores in…

Does FICO’s minimum scoring criteria limit consumers’ access to credit?  Simply put, the answer is no. Over the last 30 years, FICO has continued to analyze the minimum amount of credit bureau data that is necessary to deliver a reliable, predictive FICO^® Score to the market - which benefits both consumers and lenders alike. As a reminder, we have…

This post presents new results following up our last blog post that described the FICO^® Score impacts from simulating up to 12 months of mortgage forbearance accommodation. In the previous analysis, we enacted the simulation on all open mortgage accounts identified on a national sample of millions of U.S. consumers from late 2018. All stats shared in that post were ba…