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1:12:11
YouTube
TruthevenifItHurts
The Evolution of Credit and FICO Scores
In 1956, a company called Fair Isaac Corporation created a system called the FICO Score. This system uses math and data to predict if a person will pay back a loan. Instead of guessing, lenders could use numbers to make better decisions. Companies called credit bureaus collect information about people’s credit. The three main bureaus are ...
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