ScoreInfo was created by FICO, the company that invented the FICO® Score, to help consumers understand and benefit from the risk-based pricing and credit score disclosure notices they receive in the mail from U.S. lenders in accordance with federal regulations (Risk-Based Pricing Rule) effective January 1, 2011. Many lenders have chosen to comply with this new regulation by providing all consumers with a notice that contains their credit score and other related information shortly after they apply for credit.
Most lenders today use FICO® Scores which are widely recognized as the industry standard. As a result, most of the scores that lenders are disclosing to consumers in compliance with the new rules are FICO® Scores. This website helps consumers understand how FICO® Scores are calculated and how they can manage their credit and their scores over time.
With over 10 billion FICO® Scores used annually worldwide to empower lenders to make credit decisions, the FICO® Score has become the standard measure of credit risk. FICO® Scores are used today in more than 20 countries on five continents as well as all of the top 50 U.S. financial institutions, the 25 largest U.S. credit card issuers and the 25 largest auto lenders. The latest FICO® Score version, the FICO® 8 Score, has already been adopted by more than 8,300 lenders.
FICO, formerly known as Fair Isaac Corporation, is the company that invented the FICO® Score that lenders use. Starting in the 1950s, FICO sparked a revolution by pioneering credit risk scoring for credit grantors. This new approach to measuring risk enabled banks, retailers and other businesses to improve their performance and to expand consumers’ access to credit. Today, the FICO® Score is widely recognized as the industry standard for measuring credit risk.
FICO is publicly traded on the New York Stock Exchange under its symbol FICO.