FICO® Score Credit Education
FICO® Scores are the most widely used credit scores. Each FICO® Score is a three-digit number calculated from the data on your credit reports at the three major consumer reporting agencies-Experian, TransUnion, and Equifax. Your FICO® Scores predict how likely you are to pay back a credit obligation as agreed. Lenders use FICO® Scores to help them quickly, consistently, and objectively evaluate potential borrowers' credit risk.
Top questions about FICO® Scores
Why are you providing FICO® Scores?
Nearly all lenders in the U.S., including your financial institution, use FICO® Scores, as the industry standard for determining credit worthiness. Reviewing your FICO® Scores can help you learn how lenders view your credit risk and allow you to better understand your financial health.
What goes into FICO® Scores?
35% - Payment history. Whether you've paid past credit accounts on time.
30% - Amounts owed. Amount of credit and loans you are using.
15% - Length of credit history. How long you've had credit.
10% - New credit. Frequency of credit inquires and new account openings.
10% - Credit mix. Mix of your credit, retail accounts, installment loans, finance company accounts and mortgage loans.
What are score factors?
Score factors are delivered with a consumer's FICO® Score, these are the top areas that affected that consumer's FICO® Scores. The order in which the score factors are listed is important. The first factor indicates the area that most affected the score, and the second factor is the next most significant influence. Addressing these factors can benefit the score.
Why is my FICO® Score different than other scores I've seen?
There are many different credit scores available to consumers and lenders. FICO® Scores are the credit scores used by most lenders, and different lenders may use different versions of FICO® Scores. In addition, FICO® Scores are based on credit file data from a consumer reporting agency, so differences in your credit files may create differences in your FICO® Scores.
Why do FICO® Scores fluctuate/change?
There are many reasons why a score may change. FICO® Scores are calculated each time they are requested, taking into consideration the information that is in your credit file from a consumer reporting agency at that time. So, as the information in your credit file at that CRA changes, FICO® Scores can also change. Review your key score factors, which explain what factors from your credit report most affected a score. Comparing key score factors from the two different time periods can help identify causes for a change in a FICO® Score. Keep in mind that certain events such as late payments or bankruptcy can lower FICO® Scores quickly.
Will receiving my FICO® Score impact my credit?
No. The FICO® Score we provide to you will not impact your credit.
How do I check my credit report for free?
You may get a free copy of your credit report from each of the three major consumer reporting agencies annually. To request a copy of your credit report, visit the link below. Please note that your free credit report will not include your FICO® Score. Because your FICO® Score is based on the information in your credit report, it is important to make sure that the credit report information is accurate.
Why is my FICO® Score not available?
You are a new account holder and your FICO® Score is not yet available, your credit history is too new, you are not the primary account holder
Frequently asked questions in PDF
Important information
All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more.
Privacy notice
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO® Scores and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.
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