FICO Updates
It’s the number that bears your creditworthiness — your credit score.
And for tens of millions of Americans, their credit score is about to change.
First, some background — a Credit score is crucial for anyone seeking a loan. Created and managed by FICO, credit scores attempt to put a number value on each potential borrower’s creditworthiness. To determine a credit score, FICO measures payment history, outstanding debt, length of credit history, and credit utilization. From this data, the company produces a score ranging from 300 to 850 — the higher the score, the more creditworthy the borrower.
