Definition
A type of credit score created by the Fair Isaac Corporation (FICO). Lenders use borrowers' FICO scores to assess credit risk.
Related Personal Finance terms
Budget
An estimate of income and expenditure for a set period of time. A foundational t…
Emergency Fund
Money set aside to cover unexpected financial emergencies, typically 3-6 months'…
Credit Score
A number between 300-850 that depicts a consumer's creditworthiness. The higher …
Compound Interest
Interest calculated on the initial principal, which also includes all of the acc…
Net Worth
The value of the assets a person or corporation owns, minus the liabilities they…
Asset
A resource with economic value that an individual, corporation, or country owns …
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Browse 350+ finance, crypto, and fintech terms across 12 categories in the Digital.Finance glossary.