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The classic FICO credit score (named FICO credit score) is between 300 and 850, and 59% of people had between 700 and 850, 45% had between 740 and 850, and 1.2% of Americans held the highest FICO score (850) in 2019. [15]
FICO (legal name: Fair Isaac Corporation), originally Fair, Isaac and Company, is an American data analytics company based in Bozeman, Montana, focused on credit scoring services. It was founded by Bill Fair and Earl Isaac in 1956. [2] Its FICO score, a measure of consumer credit risk, [3] has become a fixture of consumer lending in the United ...
A good credit score helps you access the credit cards, loans, mortgages and other financial products you need. Since FICO scores are the most widely used credit scores, it makes sense to focus on ...
The average FICO score in the U.S. is 717 for FICO 8, which is the most commonly used score. Why there are different FICO score versions There are multiple versions of FICO credit scores for two ...
Credit scores usually range from 300 to 850 showing the customer's creditworthiness. A customer with a high credit score shows that they are creditworthy and banks will have no problem giving them a loan. If a customer has a low credit score then banks would be hesitant to give out a loan and if they do it might be with a higher interest rate.
Your credit score impacts several aspects of your financial life, including the interest rates you receive on loans and premiums you pay on auto insurance. As such, understanding how credit scores ...