What is a FICO® Score?
A FICO® Score is a three-digit number calculated from the credit information on your credit report at a consumer reporting agency at a particular point in time. It summarizes information in your credit report into a single number that lenders can use to assess your credit risk quickly, consistently, objectively and fairly. Lenders use the FICO® Score to estimate your credit risk – how likely you are to pay your credit obligations as agreed. It helps you obtain credit based on your actual borrowing and repayment history.
How do I view my FICO® Score?
Any Member can view their FICO® Score by simply logging into Online Banking and clicking on the Services tab in the top navigation. Look for Get FICO® Score and click on the Continue button.
If you need assistance setting up Online Banking, please view our Online Banking user guide.
How is the FICO® Score is calculated?
FICO® Scores are calculated from many different pieces of credit data in your credit report. This data is grouped into five categories as outlined below. The percentages in the chart reflect how important each of the categories is in determining how your FICO® Scores are calculated.
Your FICO® Scores consider both positive and negative information in your credit report. Late payments and collections can have a major impact on FICO® Scores, but establishing or re-establishing a good track record of making payments on time will have a positive impact on your score.
What your FICO® Score means to lenders
FICO® is a registered trademark of Fair Isaac Corporation in the United States and other countries.
Freedom Credit Union and Fair Isaac are not credit repair organizations as defined under federal and state law, including the Credit Repair Organizations Act. Freedom Credit Union and Fair Isaac do not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history or credit rating.