what does FICO mean?

Posted in Debt by debt kid on the March 6th, 2008

FICO stands for Fair Issac Company. Fair Issac created the original credit scoring model.

In context, when someone say’s “FICO” they are liking talking about their three digit credit score.

Each of the three major CRA (credit reporting agencies) have created marketing names for their credit score. Additionall, the three bureau’s have a next generation credit scoring system with all new names.

Old “credit score” names:

Experian - FICO
Equifax - BEACON
TransUnion - EMPIRICA

Next generation credit names:

Experian - FICO Advanced Risk Score
Equifax - Pinnacle
TransUnion - Precision

You can check your “FICO” scores at MyFico. Easily the best place to get all three scores legit.

I'm 300K in debt. Gulp. I'm 24 and day traded away a fortune. Now I'm trying to crawl back to zero. Why not subscribe to my RSS feed and join me on this journey. You can also subscribe via e-mail. I appreciate tips and feedback! ~ DebtKid

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