FICO
Lender's risk metric
FICO stands for Fair Isaac Corporation, the analytics company that developed the dominant credit scoring system in the United States.
A FICO score, ranging from 300 to 850, measures creditworthiness based on payment history, debt levels, and credit length: Lenders require a FICO score of at least 620.
The term has become nearly synonymous with credit score itself.
Risk evaluation and acceptance
- risk assessmentEvaluating likelihood of harm
- borrowerOne who takes temporarily
- lendingTemporary provision of resources
- interest rateCost of borrowing money
loan approval · mortgage · default · credit line · revolving credit · secured loan · collateral · repayment
underwriting
Risk evaluation and acceptance
- risk assessmentEvaluating likelihood of harm
- borrowerOne who takes temporarily
- lendingTemporary provision of resources
interest rate · loan approval · mortgage · default · credit line · revolving credit · secured loan · collateral · repayment · amortization
- creditcredit card, credit limit, credit cards, credit report, credit line
- Business AcronymsSKU, UPC, CEO, COO, POS
- Credit Reportscredit report, credit reports, credit bureau, credit bureaus, credit history
- credit scorescredit report, credit history, credit bureau, credit rating, credit check
- bankingbank, banks, ATM, ATMs, account
- financebank, CFO, banks, controller, finance
FICOnet worth
Assets less debts
bank balance · income · assets · cash on hand · liquid assets
- FICO scoreNumerical creditworthiness assessment