The FICO scoring model in the United States uses a credit-score range from 300 to 850.
FICO scores are calculated from information in consumer credit reports. The main factors include payment history, amounts owed, length of credit history, new credit, and types of credit used. Different FICO versions and industry-specific scores can weigh information differently, so a person may not have one universal score.
Lenders use credit scores as one part of credit-risk assessment. A higher score generally signals lower predicted risk, but approval decisions also consider income, existing debts, employment, collateral, loan terms, and the lender’s policies.
Checking a score does not automatically lower it when the check is a soft inquiry. By contrast, applications for credit can create hard inquiries, which may affect scores in some circumstances. Credit-report accuracy is therefore important for personal financial planning.