What is FICO?. FICO Stands for “Fair Isaac Corporation” This is the company that comes up with your “credit score” – Like a school grade – See, your parents.

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Presentation transcript:

What is FICO?

FICO Stands for “Fair Isaac Corporation” This is the company that comes up with your “credit score” – Like a school grade – See, your parents get grades, too! What is considered a good credit score? – Anything over – Perfect score is 800 (like a section on the SAT)

How Would You Rate Someone?

FICO What ruins a credit score? – Paying bills late – Home foreclosure – A Bankruptcy filing – Credit consolidation with negotiated payments – Excessive legal proceedings – Bouncing checks – Medical bill collection Let’s rate a borrower