FICO Changes the Way it Calculates Credit Scores

A change in how the most widely used credit score in the U.S. is tallied will likely make it easier for tens of millions of Americans to get loans. AnnaMaria Andriotis joins the News Hub to discuss.

Credit cards and credit score

Many people are under a great misconception regarding their credit cards and credit score. They think that paying off their credit cards will lower their credit score. That is totally wrong. Your FICO, Fair Isaacs Corporation., score is calculated from a lot of different credit data in your credit report. The following percentages reflect how important each […]

What is a FICO score?

What is FICO? FICO stands for Fair Isaacs Corporation. In 1989, the Fair Isaacs Corporation and Equifax developed the score. To calculate your score, the system awards points for each factor that can help predict the likelihood of a person repaying debts on time. These points are totaled to generate your credit score. The score […]