Who Sets Your Credit Score
www.myfico.com provides a wealth of information to help you understand your credit score and to dispute any potential inaccuracies in your credit report.
You may have heard credit scores also referred to as FICOŽ scores. The term FICO is derived from Fair Issac Corporation, which developed the most commonly used formula by which the three reporting firms derive their credit scores.
Your credit score distills all of the available financial information about you into a succinct number that can then be used by businesses to assess your financial trustworthiness.
When you apply for a loan or credit card, the prospective creditor need only refer to your credit score, rather than your complete credit report, to set the interest rate you pay.
