why do lenders want to see credit scores
Credit bureau scores are often called FICO Â® scores because many credit bureau scores used in the U.S. are produced from software developed by Fair Isaac Corporation (FICO). While many lenders use credit scores to help them make their lending decisions, each lender has its own criteria, depending on the level of risk it finds acceptable for a given credit product. â Your credit report is a detailed list of your credit history, consisting of information provided by lenders that have extended credit to you.