Unbeknownst to a number of Americans, your FICO score can do a lot in helping companies make decisions on who they will lend do.
In this article, you will learn not only what a FICO score is, but also seven tips that will help you fix and raise your FICO score.
WHAT IS A FICO SCORE?
FICO stands for Fair Isaac Corporation. Lenders use your FICO score to help them determine if they can give you a line of credit that can help you purchase their products of services. For example, your FICO score is taken into mind when you apply for a loan, search for car financing, and so on.
There are many parts of your FICO score, but the main ones include your payment history, number of open accounts, and the age of your credit history. These all can be used alongside your earnings to determine if you are credible enough to be given financing opportunities.
Here are a few ways you can fix and raise your FICO score: