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What is a FICO score?

“FICO” is an acronym for the Fair Isaac Corporation, the company that created the FICO score. A FICO score is a credit score that is derived by applying a mathematical formula to a consumer's credit report data. The guarantor’s FICO score is used to assist in evaluating an e-Credit Line application and the decision whether to grant credit. Generally, lenders consider people with higher scores more desirable borrowers than those with lower credit scores, as they typically represent a lower risk of defaulting on their e-Credit Lines.

最後更新:2017-05-22 21:31:27

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