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How Can FICO Score Affect Your Financial Status?

Sep 18, 2008 Uncategorized

by Darren Cason

Your FICO score is an extremely important determiner of your overall credit “worthiness”. What precisely is it?

The letters “FICO” form an acronym that originated from the founder, the Fair Isaac Corporation. Basically it is a ranking between the numbers of 400 and 800, decided upon by a mathematical algorithm, where 400 is the worst and 800 the best. There are other companies with their own versions of this system.

The algorithm’s “secrets” have been closely guarded, but many have used reversed mathematical procedures to create their own. All that you need to know is that any late payment will ..

Source: Finance

This entry was posted on Thursday, September 18th, 2008 at 6:39 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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