FICO
Fair Isaac Corporation
Example
I got back my FICO score and it's better than I expected!
FICO definition by Slang.net
This page explains what the acronym "FICO" means. The definition, example, and related terms listed above have been written and compiled by the Slang.net team.
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FICO is a financial acronym for Fair Isaac Corporation, which is responsible for developing models used to calculate credit bureau risk scores. It is often seen as "FICO score" and is utilized by lenders to assess the credit risks of potential borrowers or existing customers.
FICO is a standard used all around the world to measure credit risk. It is used in the mortgage, credit card, banking, retail, and auto industries. The score is generated from information that a credit bureau has on a customer. There are three credit bureaus, which are Equifax, TransUnion, and Experian. Higher FICO scores indicate a lower credit risk while lower FICO scores indicate a higher credit risk.