fico scoreFICO is an abbreviation for Fair Isaac Corporation and refers to a person's credit score based on credit history. Lenders and credit card companies use the number to decide if the person is likely to pay his or her bills. A credit score is evaluated using information from the three major credit bureaus and is usually between 300 and 850.
Source: U.S. Department of Housing and Urban Development
Related Terms from the Property Rights and Real Estate Law Glossary