Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.
• As you receive and use credit, you develop a credit history that is “scored” by the three main credit bureaus. Each credit bureau determines your credit score according to an industry-standard methodology known as FICO, an acronym of Fair Isaac Credit Organization. The higher your FICO score, the more favorable your interest rate and other terms of the loan will be.
