Aiden Stone
6 min readNov 28, 2021

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The Most Important Number in Your Financial Life

Photo by RODNAE Productions from Pexels

Everyone’s heard of a credit score, but do you know yours? You should — and you can get it for free.

FICO (the acronym for Fair Isaac Company) scores came to be 1989 and are used by lenders across the country.

There are multiple FICO models out there, for everything from credit cards to homes to cars. Odds are, if your score is high on one, the other models will be high, too.

For added confusion, not only will the various scoring models vary, but the scores you (or lenders) get from the three major credit bureaus — TransUnion, Equifax, and Experian — will vary, too.

Why?

Usually, it’s a matter of timing, and when your information is updated to the bureaus.

So, How’s a FICO Calculated?

This always seems to be a mystery for people who’ve not checked their credit report, which you need to do — regularly. And no, checking your own file won’t affect your score.

First, know this: most FICO scores range from 300–850.

Here’s how it’s made up.

Payment History: 35%

This is the biggest chunk of your score and one you can impact easily. How? Pay your bills on time!

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Aiden Stone
Aiden Stone

Written by Aiden Stone

HR exec by day. Personal finance geek by night. Dog dad. Sort of writer. Prolific saver. Say hi on Twitter @allFImyself.