A FICO score is a consumer credit rating developed by Fair Isaac & Co.

It applies a mathematical formula to information in your file at the credit reporting agencies (Equifax, Experian and TransUnion). The result is a

number that supposedly shows how likely you are to repay your debts.

Lenders pay for FICO scores and use them to help decide whether they

should extend credit to a customer and if so, at what rate and terms.

FICO scores range from 300 to 850. A score below 620 is considered

highly risky; a score over 750 is considered excellent.

Other companies, including the credit bureaus themselves, have come up

with competing credit scores, but FICO is still the best known.

To learn more about FICO scores and how to improve them, go to

www.myfico.com and click on Learn.