What is fico auto score
Don't Buy a Car Before You Understand the FICO Auto Score | Student Loan H…
"The FICO score is the single best summary score of one's credit worthiness," says E-Loan President and Chief Operating Officer Joe Kennedy. A credit score number is often called a FICO score, for Fair, Isaac and Co., the California company that developed the system upon which it is based.
[DOC File]Credit scores explained
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A FICO credit score is based on these factors: Payment history - 35%. Outstanding debt - 30%. Length of credit history – 15%. New credit – 10%. Types of credit in use – 10%. In the last 5 years, insurers have incorporated the use of credit scores in personal lines (auto and homeowners) insurance underwriting.
[DOC File]Credit Scoring
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What is a FICO score and how is it determined? Determine which of the following is the best loan to purchase an automobile. Loan A Loan B Loan C Loan D. Price: $3,500 $3,000 $3,500 $3,000. Rate: 5.7% 6.5% 6.5% 5.7%. Term: 24 months 24 months 36 months 36 months. Show your work and explain your conclusion.
[DOC File]Introduction
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A credit score is a method of assessing risk used by a lender considering extending credit to an individual. A well-designed credit score is objective and based on actuarially sound standards. The brand-name credit score from Fair Isaac Corp. is known generally as a FICO score. This score appears to have the lion’s share of the market.
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