Credit Basics

How is credit determined?


Credit scoring was developed in 1958 by Fair Isaac Corporation to help predict whether a borrower will repay their loan on time.

1. The resulting score is commonly called a FICO score, after Fair Isaac.

2. When a credit bureau calculates your score, they do not take race, religion, age, sex or marital status into account.

3. Neither does your income, occupation or employment history figure into the score, nor if you’ve been turned down for credit.