Developed in 1956, a Fair Isaac Corporation Score (commonly called the FICO Score) is a three digit number ranging from 300-850 and is calculated according to the following risk factors:
Payment History (35% of score)
Amounts Owed (30% of score)
Length of Credit History (15% of score)
New Credit & Inquiries (10% of score)
Types of Credit (10% of score)
Once the borrower’s score is derived, most lenders use a standard ‘grading’ system to categorize the results. While some lenders develop their own systems for classification of scores, below is a general guide of score interpretation. Used as a general reference, this can help you interpret the credit score you’ve been given based on a grading system typically used in schools:
670 and above
520 or below
A+ to A
B+ to B-
C+ to C-
D+ to D-
Fair Isaac Resolution Resources Helpline (800) 777-2066
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