FICO Score Vs Credit Score: Know the Differences

If you’re wondering about your FICO score and your credit score, you might be thinking to yourself that they’re the same thing. While this isn’t wrong, it’s not exactly right either. 

Think of your credit score as a general kind of credit report that computers analyze to determine your score. On the other hand, FICO is a specific brand for credit scores that a lender may use when they need to see your creditworthiness. 

Either way, this will always be a three-digit credit score that’s used to measure how well you are managing your finances. While there are various kinds of credit scores that a lender can use to determine the risk of giving you money, FICO is the most well-known kind. 

Even so, some lenders will choose to create their scoring model — understanding the difference between credit scores and FICO scores will help you maintain the right kind of finance.