What is a FICO score?
Name:
Date:
Use the resource http://en.wikipedia.org/wiki/Credit_score (use the “General Information,” “Score
Interpretation” and “United States” sections (NOTE: For Questions 1 & 2, you will have to search the
Internet.
1. What is FICO the abbreviation for?
2. Why was FICO named what it is named?
3. What is a FICO (credit) score?
4. Give 3 examples of organizations that use credit reports.
1.
2.
3.
5. Name the 3 most popular credit report agencies.
1.
2.
3.
6. How often can a person receive a free credit report?
7. In the United States, credit scores range between ____________ and _______________.
Circle the correct answer in the following questions.
8. The (higher or lower) the credit score, the better your credit rating is considered.
9. When you have a good credit score, you receive (lower or higher) interest rates when applying
for loans/credit.