What to Know About the FICO Resilience Index

December 8th, 2020 by

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You have heard of a FICO Score but what about the FICO Resilience Index?

The FICO Resilience Index is a measurement of a person’s credit risk if there would be a downturn in the economy, according to MyFICO.

What is the difference between a FICO Score and a FICO Resilience Index?

The FICO Score is a measurement of a person’s financial risk. It is what lenders use to help determine what level of credit they can give you. A FICO Score is a three-digit number and the higher the number, the more likely you are to be accepted for loans and credit cards. 

Related: Here’s How Cosigning a Loan Could Impact You

Unlike a FICO score, the FICO Resilience Index is a two-digit number, and the lower the number the more financially resilient you are to a downturn in the economy. 

The FICO Resilience Index only uses data from your credit report and does not include any savings or investments that you may already have.

For more information on the FICO Resilience Index, visit MyFICO here.


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