New Delhi, Feb. 7 -- A FICO score is a credit risk measurement tool. It is developed by Fair Isaac Corporation. It is a tool which summarizes an individual's repayment behavior and it is primarily based on their credit history.

It is important to acknowledge that the FICO score is not used extensively in India like the CRIF High Mark credit score. Still, it is consistently making inroads into the Indian lending market.

It is a three digit number and typically ranges from 300 to 850. It gives a clear direction to lenders about the creditworthiness andcredit scores of borrowers.

Now there are several factors that can influence an individual's FICO score. These can be broadly classified as follows:

Hence, to conclude it is important to a...