Financial Tip of the Week
FICO scores are your credit rating
FAIR ISAAC Credit Scoring
Range 300-850 Higher scores mean better credit Most lenders base approval on scores 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/