FICO Score
A three-digit credit score from 300 to 850 used by most U.S. lenders to evaluate risk.
FICO is built from your credit report data and broken down roughly as: payment history 35%, amounts owed (utilization) 30%, length of credit history 15%, new credit 10%, and credit mix 10%. Standard bands: 300 to 579 poor, 580 to 669 fair, 670 to 739 good, 740 to 799 very good, 800+ exceptional. Mortgage lenders typically use FICO 2/4/5 (older models); credit card issuers often use FICO 8 or VantageScore. You are entitled to a free credit report from each of the three bureaus (Equifax, Experian, TransUnion) every week at AnnualCreditReport.com.
Inside Finlo
A 60-second lesson that puts this term in context, alongside the others, lives inside the Finlo app.