How Many FICO Scores Exist?
If you are spending a lot of time on your credit rebuilding, you have come to the realization that the only scores that truly matter are you FICO scores. You may have already spent money on scores known as FAKOs, but it’s possible even the FICO score you have will not be the same as the lender will see. Do you know exactly how many flavors of FICO scores exist?
49.
That is correct. FORTY-NINE FICO scores! However, most of these FICO scores are specialty scores. Specialty scores exist for many purposes. Examples of an industry specific FICO score would be the Auto Enhanced FICO score, and Insurance Based FICO score.
While you receive only one type of FICO score, lenders can choose from a variety of scores based on the kind of loan you’re applying for. So if you want an auto loan, the lender can look up your FICO auto score. Apply for a credit card and there’s a specific FICO score bankcard score lenders can use,
This article is an intresting peice.
For further reading, check out this link: FICO SCORE on CNN Money
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