What Is a FICO Score?
A FICO score is a credit score that is used by lenders to determine a borrower’s creditworthiness. The score ranges from 300 to 850, with a higher score indicating a lower risk of default.
The FICO score is a credit score that lenders use to make decisions about whether to approve a loan. A high FICO score means that you are a low-risk borrower, and a low FICO score means that you are a high-risk borrower.
The FICO score is based on a variety of factors, including your credit history, your payment history, and your credit utilization. A high FICO score means that you are a low-risk borrower, and a low FICO score means that you are a high-risk borrower.
Lenders use a variety of factors to decide whether to approve a loan. A high FICO score means that you are a low-risk borrower, and a low FICO score means that you are a high-risk borrower.
If you have a low FICO score, your lender may require you to provide additional documentation or take other steps to prove that you can afford the loan. If you have a high FICO score, your lender may be more likely to approve the loan.
