"The FICO Score: The Standard for Creditworthiness in the US"

The FICO score is the most commonly used credit score in the United States. Developed by the Fair Isaac Corporation, it is used by lenders to determine a borrower's creditworthiness and to decide whether or not to approve a loan application. The FICO score ranges from 300 to 850, with a higher score indicating better creditworthiness and a lower risk of default. The FICO score is based on information from your credit report , which is maintained by the three major credit reporting agencies: Equifax, Experian, and TransUnion. The score takes into account a variety of factors, including payment history, credit utilization, length of credit history, and types of credit. Payment history is one of the most important factors in determining your FICO score, accounting for 35% of the score. Late payments, missed payments, and collections can all have a negative impact on your score. On the other hand, a history of on-time payments can improve your score. Credit utilization , or the amoun...