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What are FICO scores?

April 26, 2017FICO scores

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What are FICO scores?

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Fair Isaac Corporation is the creator of Fair Isaac Scores (also called FICO® scores). FICO scores rank order potential borrowers based on the likelihood that they will pay their credit obligations as agreed. A higher score indicates better credit quality. The scoring range is approximately 300 to 850 points. There are two kinds of Fair Isaac scores used in the auto industry. The original Fair Isaac score is the Standard or Generic score. The other version is the Auto Industry Specific score.