Before the economy took a turn for the worse and credit became harder to obtain, good credit and a good credit score was a fairly well established number or close range of numbers. Now when it comes to the topic of a good credit score, that well defined range of credit scores that creditors and consumers would agree on is elusive. Tougher credit and greater credit awareness has elevated those numbers and what was once a good number is now reduced to a fair or poor credit score. A wide … [Read more...]
What are FICO Scores
August 25, 2009 By Leave a Comment
FICO scores are one of several credit scores that are used by lenders, banks, insurers, credit card companies and other companies to measure consumer risk objectively. A credit score can be created by different companies based on information in a credit report, but FICO® scores are the most used credit bureau scores in the world. According to the Fair Isaac Corporation, the creator of the FICO score, more than 100 billion scores have been sold by the company and three out of four US … [Read more...]