Description

There are several types of FICO scores, each with its own unique scoring model and purpose. Here are some of the most common FICO scores:

• FICO Score 8: This is the most widely used FICO score and is used by most lenders to make lending decisions. It is based on information from your credit report, including your payment history, credit utilization, length of credit history, and types of credit accounts.
• FICO Score 9: This score is similar to FICO Score 8, but it takes into account some newer types of credit accounts, such as installment loans that are paid off in full each month.
• FICO Score 2: This score is designed for lenders who want to make lending decisions for people with limited credit history. It is based on information such as your rent payments, utility payments, and phone bill payments.
• FICO Score 5: This score is designed for lenders who want to make lending decisions for people who have recently experienced a financial hardship, such as a bankruptcy or foreclosure. It is based on information such as your payment history before the hardship, your current income, and your assets.
• FICO Score X: This score is a newer FICO score that is designed to be more predictive of future credit behavior. It is based on information such as your payment history, credit utilization, and length of credit history, as well as your income, assets, and employment history.

The type of FICO score that you receive will depend on the lender who is using it. Some lenders may use multiple FICO scores to make lending decisions.

You can get your FICO score from the FICO website or from a credit reporting company, such as Experian, Equifax, or TransUnion. You can also get your FICO score from some banks and credit unions.