3 Ways to Build Your Credit Score— consumerfinance.gov
FICO® Scores Versions Did you know you have more than one FICO ® Score? Since FICO ® Scores were introduced to lenders over 25 years ago, they have become the best-known and most widely used credit score. But quite a bit has changed since lenders first started using FICO Scores in 1989. Lender credit-granting requirements, data reporting practices, consumer demand for credit and consumer use of credit have all evolved. To help lenders make more informed credit-granting decisions, and to help ensure you get access to the credit you need, the FICO ® Score model has been updated periodically over the years. As an example, we use credit much more frequently than we used to. FICO ® Scores have been updated to reflect this change in behavior. If we didn't, seemingly normal credit usage today would be considered a higher risk than in years past.The result is that there are multiple FICO Score versions available, in addition to the most widely used versi...
