All terms
Glossary

FICO Score

The credit score model developed by Fair Isaac Corporation. Used by 90%+ of U.S. lenders.

A FICO Score is the credit score developed by Fair Isaac Corporation. FICO 8 is the most widely used version; FICO 9 and FICO 10 exist with refinements (medical-collection treatment, trended data) but lender adoption has been slow. About 90% of major U.S. lenders use a FICO score in some form.

FICO 8 weights five factors: payment history (35%), credit utilization (30%), length of credit history (15%), new credit / inquiries (10%), credit mix (10%). Scores range 300-850; lenders typically classify: 300-579 poor, 580-669 fair, 670-739 good, 740-799 very good, 800-850 exceptional.

FICO is not the same as VantageScore. The two correlate but can differ by 10-40 points on the same file.

Also called

FICO 8FICO credit score

Related terms

VantageScore

The credit score model developed jointly by Equifax, Experian, and TransUnion.

Credit Utilization

The percentage of available credit you're using. 30% of your FICO score.

Credit Score Tier

Lender categorization of credit-score ranges: poor, fair, good, very good, exceptional.

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