Definition, Meaning & Synonyms

fico

noun

/ˈfiːkoʊ/

Definition

A term associated with the FICO score, which is a measure of an individual’s credit risk based on their credit history.

Examples

The bank used his fico score to determine whether he would qualify for the loan.
Improving your fico score can help you secure lower interest rates on mortgages.

Meaning

FICO stands for the Fair Isaac Corporation, which developed the scoring model used by lenders to evaluate the likelihood of a borrower repaying a loan.