Frequently Asked Questions About FICO® Scores in the U.S.

Introduction to credit scoring and FICO Scores including the five characteristics that are considered in the scoring model – payment history, amount owed, length of credit history, credit mix, and new credit. Best practices for understanding FICO Scores and additional frequently asked questions by audience applications like mortgage, credit cards, and student loans are covered. A glossary of terms and image descriptions are also explained.

• Overview of credit scoring including customer reporting agencies, credit files, credit inquiries, credit risk, and scoring factors. 
• Introduction to FICO Scores showcasing why FICO Scores matter, minimum scoring requirements, why consumers have more than one FICO Score, and what constitutes a positive credit score
• How FICO® Scores are calculated from the credit data on a consumerís credit reports considering 5 key ingredients. Also, why it is common for FICO Scores at each credit bureau to be slightly different.
• Better understanding your FICO Score to know what helps your credit score the most as well as the impact of applying for new credit as an example.
• Frequently asked questions by credit type including how lenders use FICO® Scores to help them make lending decisions.