FICO Score (redirected from Credit score (United States))

FICO Score

A standard credit score which makes up a substantial portion of a credit report that credit bureaus sell to lenders so they can asses an applicant's credit risk and whether to extend them credit.

It is an acronym for the creators of the FICO score, Fair Isaac Credit Organization.

Notes:

Using mathematical models, the FICO score takes into account various factors in each of these five areas: payment history, current level of indebtedness, types of credit used and length of credit history and new credit in determining credit risk.

See also: Credit, Credit Bureau, Credit Report, Credit Risk, Line of Credit