Credit score in the United States - Wikipedia
en.m.wikipedia.org

I always assumed credit scores were an integral and historic part of the American financial system.

They were not, they are very recent，most of your parents didn’t have credit scores growing up, and as you can probably tell or at least intuit, it’s mostly just a b******* scheme for those with capital to accrue more capital by invading your privacy.

  • ShepherdPie@midwest.socialEnglish
    2·
    9 months ago

    I believe they do use FICO but not necessarily the score itself. FICO has numerous models that can be used depending in the type of loan:

    There are different versions of the FICO Score. Over the years, FICO has released updated versions of its credit scoring models. FICO Score 8 is the most commonly used model, but there are more recent versions, including FICO Score 9 and UltraFICO. FICO also has several other credit score models designed for specific products, including scores specifically for credit card, auto and mortgage lending.

    https://www.lendingtree.com/credit-repair/what-is-a-fico-credit-score/