FICO Scores
FICO Scores
FICO is an acronym for Fair Isaac Corporation (traded publicly under the symbol FIC) and refers to the best-known credit score model in the United States which is calculated using mathematical formulae developed by this company. The FICO score is primarily used in the consumer banking industry. Banks and other institutions that use scores as a factor in their lending decisions may deny credit, charge higher interest rates or require more extensive income and asset verification based on the credit score.FICO is an acronym for Fair Isaac Corporation (traded publicly under the symbol FIC) and refers to the best-known credit score model in the United States which is calculated using mathematical formulae developed by this company. The FICO score is primarily used in the consumer banking industry. Banks and other institutions that use scores as a factor in their lending decisions may deny credit, charge higher interest rates or require more extensive income and asset verification based on the credit score.