A free credit report is available under Federal law at: AnnualCreditReport.com.

What’s In a FICO Score ®? 


Your FICO ® score is used by banks and other financial institutions to at least partially determine your credit worthiness. FICO ® scores run between 300-850 ®, with those above 700 considered good credit risks.

 

 


Named for the Fair Isaac Corporation, which pioneered the first credit-scoring system in 1958, your FICO score ® is calculated through a statistical analysis of credit reports from the three major U.S. credit bureaus: Equifax, Experian, and TransUnion.

 

Video: What Makes the New FICO Score Better?

 

Each bureau has its own method of deriving credit scores, though they are all based on a model called the Fair Isaac Risk Model.  

 

good fico score


Though the exact mechanisms of calculating a credit score are closely guarded, Fair Isaac has disclosed a rough breakdown: 

 

 

Video: Is it Possible to get a Free FICO Score?

What’s Not in Your Score? 


Though lenders use your FICO score to analyze whether you are a potential credit risk, this number is far from a comprehensive portrait of your financial situation. Your score does not include: 

 

How Can I Improve My Credit? 


If your credit is less positive than you’d like, there are ways to improve it. CreditMagic.org offers the following tips

 

Improving your credit also means fixing any errors on your report. ConsumersUnion.org provides the following contact information

 





To request your free annual report under that law, you must go to : www.annualcreditreport.com