A FICO® Score is a type of credit score, which is a three-digit number that summarizes the data in your credit report. A FICO® Score is one of the many pieces of information lenders use to determine how likely you are to pay back a loan and to decide if they will lend you money. This is also known as your “credit risk”. When it comes to borrowing money, your FICO® Score may impact your interest rate and/or loan term.
