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This chart shows the FICO score breakdown as posted by FICO, as well as the breakdown of VantageScore 4.0. FICO Score Factors. VantageScore 4.0 Factors. Payment history (35 percent)
The average FICO Score 8 in the US was 710 in 2020 [20] and 716 in April 2021. [21] The FICO bankcard score, FICO auto score, FICO personal finance score, and FICO installment loan score are between 250 and 900. The FICO Mortgage Score and FICO Score XD 2 are between 300 and 850. [22] [23] Higher scores indicate lower credit risk. [24]
How FICO scores are calculated. Each FICO version weights different aspects of your credit history slightly differently, but all FICO scores are calculated based on the following five factors:
FICO scores are based on credit reports and "base" FICO scores range from 300 to 850, [3] while industry-specific scores range from 250 to 900. [11] Lenders use the scores to gauge a potential borrower's creditworthiness. [12] Fannie Mae and Freddie Mac first began using FICO scores to help determine which American consumers qualified for ...
This is a relatively minor factor, and since FICO only considers credit inquiries from the past 12 months, the impact on your score is fairly short-lived. How lenders use your FICO scores
A credit score is a numerical expression based on a level analysis of a person's credit files, to represent the creditworthiness of an individual. [1] A credit score is primarily based on a credit report, information typically sourced from credit bureaus.