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how do I get my fico score or a score that combines the big 3 together which gives me one overall rating?

That’s a good question.

1. A company in California called Fair Isaac ( ((FIC)) ) makes credit scoring algorithms.

They are a public corporation full of egg head math whiz type people who develop complex credit scoring systems and sell them.

At they sell credit scores from all three credit bureaus.

2. Three credit bureaus (credit repositories) exist in the US.

They are:

A. Equifax

B. Experian

C. Trans Union

Each credit bureau has different information deposited into its data banks on each person of interest. That means you. Customers of credit bureaus are corporations that might loan you money.

3. The most talked about credit score is called a FICO score. That’s short for Fair Isaac. To get picky you have three FICO score for a single individual. If you are married the two of you have six. Beyond that, a few years ago Fair Isaac wanted to make more money so they created a new and improved credit scoring modal. It’s called NextGen. To differentiate a FICO score from a NextGen score Fair Isaac renamed their FICO score Classic FICO. To make things even more complicated their is a version one and version two of NextGen and NextGen is on a slightly different scale than classic FICO. The good news is that a 720 in classic FICO, the dividing line between good and great, is the same under the NextGen models. Also, banks will use one model or another but never a mix.

4. Beyond that their are special models for things like purchasing an automobile or a house.

5. So if you are applying for a credit card you could theoretically be judged under any of 9 credit models. For a house god knows!

I hope that helps!

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