What’s in a FICO score?

Business and personal credit scores are based upon a number of factors. A common credit score is FICO, our Fair Isaac Corporation, score. There are 5 factors that make up a FICO score:

• amount of current debt
• payment history
• new credit obtained
• length of credit history
• mix of credit

A FICO or similar types of credit scores are often used in determining a borrowers creditworthiness. This is one of the factors that determines the interest rates that may be charged on a loan, or if a loan is approved. 

To learn more about how a FICO score is calculated, and how you can improve your score, more information is available at www.myfico.com