Question

 How is the fico score determined?

Answer Your FICO score is a credit score calculated using an algorithm invented by the Fair Isaac Corporation. Your credit score is used by lender to make loan decisions.FactorsThe FICO scoring algorithm ... Read More »
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Top Q&A For: How is the fico score determined

What is the difference between a fico score&a plus score?

Since 1997, U.S. consumers can purchase their credit scores through the three major credit bureaus: Experian, Equifax, and TransUnion. Known as the FICO score, this number gives lenders an easy way... Read More »
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What is the difference between a Beacon score and a FICO score?

The Beacon score was the name for a credit score calculated by the Experian credit bureau. The Beacon score used an older scoring algorithm developed by the Fair Isaac Corporation. It has since bee... Read More »
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Do lenders use credit score or fico score for mortgage rate?

Lenders use both credit and FICO scores to determine mortgage rates for individual borrowers. Mortgage companies use a "tri-merge" credit report that lists credit bureau scores from Experian, Equif... Read More »
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What is the difference between a fico score&a credit score?

A FICO score and a credit score are essentially one in the same. The FICO score was created by the Fair Isaac Corporation. It is the most frequently used credit score.FICO AliasesAll three major cr... Read More »
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