An overview of FICO vs. Experian vs. Equifax: These three major credit bureaus collect information about consumers’ lending habits, and Experian and Equifax use that information to create detailed credit reports for lenders. FICO Corporation, on the other hand, developed an algorithm that numerically scores borrowers from 300 to 850 according to their creditworthiness. What is […]Continue reading
What is FICO score? How is it calculated? Why is it so important?
FICO® scores , FICO scores or Fico credit scores are part of the criteria that many financial institutions use to make lending decisions. Maintaining good financial health requires understanding how you use credit and how it affects your scores. Using information from your credit reports, FICO assigns a three-digit score to you. This score helps lenders assess your likelihood […]Continue reading