Financial Tip of the Week
FICO scores are your credit rating
FAIR Range 300-850
ISAAC Higher scores mean better credit
Credit Most lenders base approval on scores
Scoring Higher scores mean lower interest rates
FICO scores are calculated based on your rating in
five general categories:
Payment history - 35%
Amounts owed - 30%
Length of credit history - 15%
New credit - 10%
Types of credit used - 10%
The median FICO score in the U.S. is 723
For more financial information, contact the $AFE office at (406) 994-7223 or by e-mail safe@montana.edu.
$AFE is a project funded by Montana State University and a grant from the Student Assistance Foundation.
Source: Retrieved 9/13/07 from http://www.myfico.com/