Do you know your FICO Score? When was the last time you checked your credit?

Fico1 By JR Rohr, Vice President Mortgage Retail Sales, jrohr@bncbnationalbank.com

Some times what you don’t know can hurt you. Your FICO Scores play an important role in a majority of major purchases. Your FICO Scores can affect what you pay for a home loan, a car loan, insurance, student loans, etc.

The FICO® Score is calculated from several different pieces of credit data in your credit report. This data is grouped into five categories as outlined above. The percentages in the chart reflect how important each of the categories is in determining how your FICO Score is calculated.

Before you make your next purchase, do a little research. There are multiple websites available that can help you monitor your FICO Score. Make sure you know your FICO Score and how it is calculated.

What’s Your Credit Score?

Excellent
Good
Fair
Average U.S. Score
Uncertain
Poor
750 and Up749 - 720719 - 660678659 - 620619 or Below

FICO information obtained from www.myfico.com

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