Credit Repair Glossary

• Fair Isaac

  Fair Isaac (sometimes mistakenly referred to as “Fair Isaacs”) is the company that invented the FICO® credit score that most American lenders use. Fair Isaac was started in the 1960’s, and introduced credit scoring algorithms to the U.S.  Fair Isaac’s FICO risk score is a de-facto standard in the U.S. financial services industry. 

  Fair Isaac has offices around the world, with its corporate headquarters in Minneapolis MN.  They have branched out from simply providing consumer credit risk scoring algorithms, and have applied their expertise to a wide range of other analytics and decisioning tools.  For folks who are concerned about their credit scores, however, all you need to know is that Fair Isaac is the company that invented and maintains the FICO credit score system.  The FICO scoring system is updated from time-to-time.  For example, check out the hubub surrounding the FICO 2008 changes.