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Does FICO use credit scores from all three credit reporting agencies to come up with their own FICO Score?
May 31st, 2011 - Posted by Tasha
Q: Does FICO use credit scores from all three credit reporting agencies to come up with their own FICO Score?
A: FICO is the brand name of a credit score calculation created by Fair Issac & Co in 1956. FICO actually uses their own proprietary credit algorithm to determine your FICO score; they do not use the credit scores created by the 3 credit bureaus. Like all other credit scores, the FICO score is based on the information found in your credit report. And since you have 3 different credit reports—one from each of the 3 credit bureaus—you have 3 different FICO scores.
To learn more about how the FICO score is calculated, see our What Does FICO Mean blog post. To learn more about credit scores, see our credit monitoring FAQ. This is also a great time to take a look at our top rated credit monitoring services for free trials and free credit scores.
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September 7th, 2011 at 6:02 am
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