A FICO score is a credit score developed by Fair Isaac Corporation (FICO). Lenders use borrowers’ FICO scores in conjunction with other information on their credit report to determine the risk to credit and decide if they should extend credit. FICO scores consider information from five areas that determine creditworthiness: Payment history Current debt levels […]
Credit History
Your credit history is an indicator of your ability to pay obligations and demonstrate responsibility for repaying these debts. This is recorded on your credit report. It includes the types and number of accounts you’ve opened, as well as how long each one was open, the total amount due, the amount of available credit as […]