Your credit score is an important metric that lenders use to help determine your creditworthiness—in other words, how likely you are to pay back your debt. But did you know that there is more than one FICO scoring model available for lenders to use?
One of the most popular scoring models used by top lenders today is the FICO® Credit Score—in fact, 90% of top lenders use FICO® Credit Scores.1
The Fair Isaac Corporation (FICO) created the credit scoring model to help lenders figure out if a person would be a responsible borrower. According to myFICO.com, the FICO credit scoring model has different versions to address different business needs (industry specific scores) and base credit scores that all lenders can use. FICO base credit scores typically range from 300 to 850 where the higher the score is the better. These three-digit numbers help give lenders an overview of your credit history, so lenders can determine whether to extend credit to you.

What Is FICO® Score 8?
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Last Updated: December 17, 2024
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