The FICO Credit Score – The One You Should Care About

The FICO credit score is used by the majority of lenders and is the standard for measuring and comparing credit. 

Even if you plan on using other types of credit scores as well, you need to maximize your FICO credit score before doing anything else.

With a higher FICO credit score, you will have access to lower interest rates, more loan options, and as a result will save significant amounts of money throughout your life.

Obtaining a high FICO credit score may sound complicated and scary, but once you understand what is included in the score, you will find that it is much more manageable.

How The FICO Credit Score Is Calculated

While the exact mathematical calculation is not released to the public, there is a breakdown of what factors into your FICO credit score. The graph below is pulled from the FICO website (www.myfico.com) and shows the five different categories that comprise your credit score.