A person's credit score calculated with software from Fair Isaac Corporation (FICO).
The FICO score is a number between 300 and 850, which indicates a person's capacity to repay a loan. The higher the number, the lower the risk that the borrower will default
Example sentencesExamples
I know how important credit is, particularly the FICO score, so I'm afraid to make such a large purchase.
My FICO score is only 590, and my wife doesn't have much credit, but we are now current on all our bills.
But starting in 2001, Fair Isaac, the research firm that owns the mathematical model used to calculate what's known as a FICO score, began allowing consumers to peek behind the curtain.
Burrows' FICO score will also affect whether she qualifies for a conventional mortgage, subprime loan, or FHA government loan.
Check with your financial planner for assistance in this area - he or she can also help you ensure that your FICO score is not adversely affected.
Definition of FICO score in US English:
FICO score
nounˈfīkō ˌskôr
Finance
A person's credit score calculated with software from Fair Isaac Corporation (FICO).
The FICO score is a number between 300 and 850, which indicates a person's capacity to repay a loan. The higher the number, the lower the risk that the borrower will default
Example sentencesExamples
Burrows' FICO score will also affect whether she qualifies for a conventional mortgage, subprime loan, or FHA government loan.
Check with your financial planner for assistance in this area - he or she can also help you ensure that your FICO score is not adversely affected.
I know how important credit is, particularly the FICO score, so I'm afraid to make such a large purchase.
But starting in 2001, Fair Isaac, the research firm that owns the mathematical model used to calculate what's known as a FICO score, began allowing consumers to peek behind the curtain.
My FICO score is only 590, and my wife doesn't have much credit, but we are now current on all our bills.