Fico stands for the Fair Isaac Corporation on the NYSE it is (FIC).  Fico was formed in 1956 as a statistical company that analyzes a persons credit score based on the information that is supplied by Equifax, Experian, and Trans Union.  The score that is given is in collabration with the information on an individuals profile that has been created.  If the individual pays all their debts on time, and their balances are in line with the credit given the score will be higher but if the client has judgements, repossessions, foreclosures, bankruptcies and such will be given a lower sscore.

Here is the breakdown on how the score is calculated:

35% is Payment History
30% is Outstanding Balances
15% is Credit History
10% is Type of Credit
10% is Inquiries

Here is a breakdown of how FICO Scores you:

350-580 is high risk
580-620 is fair
620-700 is good
700-850  is excellent

For more information please contact us at 1-609-685-7474.