FICO Score Explainer

FICO Score ek 3-digit number hota hai (generally 300–850) jo batata hai ki aap loan wapas karne mein kitne risky ya reliable ho.

Ye score Fair Isaac Corporation (FICO) ne banaya hai, aur duniya bhar ke lenders (banks, NBFCs) isse aapki creditworthiness judge karte hain.

Kya aap loan lene ja rahe hain aur bank ne “FICO score” maanga? Aksar log isey CIBIL score se confuse karte hain. Yahin pe ye guide aapki confusion clear karegi—simple Hinglish mein, A-to-Z.

What’s in it for you: Aap jaanenge FICO score ka meaning, CIBIL se farq, kaise calculate hota hai, loan par iska asar, aur practical steps jisse aap apna score improve kar sakte ho.

FICO Score Kya Hai? Kisse bana, aur range kya hoti hai?

• Full form: FICO = Fair Isaac Corporation (US-based analytics company).
• Purpose: Aapke past credit behaviour (EMI time par di? credit card ka use kaise kiya?) ke basis par ek risk score nikalta hai.

• Typical range: 300 se 850

  • ✅ 800+ (Excellent): Best chances, lowest interest
  • ✅ 740–799 (Very Good/Good): Strong approval odds
  • ⚠️ 670–739 (Fair): Approvals possible, par interest thoda high
  • ❌ 580–669 (Poor): Risky zone, tougher approvals
  • ❌ 300–579 (Very Poor): Approval mushkil

Note: FICO ke kuch industry-specific versions (e.g., Auto) alag range use kar sakte hain, par consumer lending ke liye 300–850 common hai.

Sabse bada confusion: FICO Score aur CIBIL Score ek hi cheez hain?

Short answer: Nahin.

• CIBIL (TransUnion CIBIL) ek credit bureau hai—ye aapka credit data store/maintain karta hai aur apna CIBIL Score (300–900) deta hai.
• FICO ek scoring model banata hai—ye bureaus ke data ko use karke ek FICO Score calculate karta hai.

Socho aise: 🧑‍🍳🍲

• Credit Bureau = Kitchen (ingredients/data)
• FICO = Chef (recipe/model)
• Score = Dish (final number)

Yahan ek clear comparison:

Pro tip: Aapka CIBIL Score aur FICO Score dono high hon to best outcomes milte hain. Dono ka base—“aapki responsible credit history”—same hi hota hai.

FICO Score kaise calculate hota hai? (5 key factors 🧮)

FICO ke base model mein ye typical weights hote hain. Versions thoda vary kar sakte hain, but yahi gold-standard maana jata hai:

1. Payment History – 35%

   • EMI/credit card bills time par diye?
   • Late payment, default, write-off sabse zyada damage karte hain.

2. Amounts Owed (Utilization) – 30%

   • Total outstanding vs limits.
   • Credit card utilization 30% se neeche rakho (ideal 1–10%).

3. Length of Credit History – 15%

   • Oldest account ki age, average age of accounts.
   • Purane credit cards ko bina wajah band mat karo.

4. Credit Mix – 10%

   • Alag type ke credit (secured + unsecured) ka healthy blend helpful hota hai.
   • Example: Home loan + credit card + consumer durable loan (responsibly used).

5. New Credit (Inquiries) – 10%

   • Short time mein zyada applications = hard inquiries = score dip.
   • Needed ho tabhi apply karo.

FICO Score aapke loan ko kaise impact karta hai?

Banks/NBFCs often decide 3 core cheezein FICO (aur bureau scores) dekh kar:

• ✅ Approval probability: High score = higher approval odds.
• ✅ Interest rate (ROI): High score = lower interest, zyada savings.
• ✅ Sanctioned amount & terms: High score = higher limit, flexible tenure.

Example:

Agar aapka score 770+ hai, personal loan interest 12.99% ke aas-paas mil sakta hai, jabki 640 score par 16–22% tak ja sakta hai. Same EMI tenure mein, total interest mein bade difference aate hain.

India mein FICO/CIBIL score kaise check karein, aur kaise sudhaarein?

Check kaise karein:

• Aap har bureau (CIBIL, Experian, Equifax, CRIF High Mark) se saal mein 1 free full credit report le sakte ho (RBI mandate).
• CIBIL/Experian ke official portals ya verified apps (OneScore, BankBazaar, Paisabazaar, KreditBee, etc.) par apna bureau score dekh sakte ho.
• Note: FICO Score consumer-facing India mein limited hai. Zyada tar Indian lenders underwriting mein bureau score + internal models use karte hain; kuch FICO bhi pull karte hain.

Score improve karne ke quick tips (actionable ✅):

• Never miss payments: Auto-debit/UPI mandate set karo; ek bhi 30+ DPD late bura effect dalta hai.
• Utilization < 30% rakho: Billing cycle ke pehle part-payment kar do taaki utilization low show ho.
• Rapid-fire applications avoid: Short time mein multiple credit inquiries na karo.
• Old accounts ko maintain karo: Purane cards ko active rakho (small spends + full payment).
• Errors dispute karo: Report mein galti ho to bureau ke dispute center par ticket raise karo—supporting docs attach karo.
• Build from scratch: Secured credit card / small consumer loan lo, time par repay karke history build karo.
• Co-signed/guarantor? Dusre ke default ka impact aap par pad sakta hai—careful raho.

Improvement timeline:

• Minor utilization fixes: 1–2 billing cycles.
• Late payments ka impact: 6–24 months tak reh sakta hai (severity pe depend).
• Serious delinquencies/settlements: Longer horizon; consistent discipline hi remedy hai.

Conclusion: Aapka final takeaway

• FICO score sirf ek number nahin—ye aapki financial discipline ka “report card” hai.
• India mein aapko jo score milta hai wo zyada tar bureau score (jaise CIBIL 300–900) hota hai; lenders kabhi-kabhi FICO bhi use karte hain.
• Good habits = low interest, better approvals, aur long-term savings.

CTA: Aapka current score kya hai? Aapne kaunsi habit se score improve kiya? Neeche comments mein share karo. 📣

Expert Note by Sk Jabedul Haque

“Hi, I’m Sk Jabedul Haque. Hamari team Government Schemes, Finance aur Global Markets ke complex data ko simple language mein todti hai.

Is guide ke liye maine FICO ke official documentation (scoring factors/weights), RBI ke circulars on Credit Information Companies, aur Indian bureaus (CIBIL/Experian/Equifax/CRIF) ke consumer resources ko cross-check kiya hai.

Goal simple tha: Tumhe sahi, actionable information mile—jisse tum apna score improve karke loan costs bacha sako.”

Sources (trusted):

• FICO: What’s in my FICO Scores? (Payment history, utilization, mix, etc.)
• RBI: List of Credit Information Companies (CICs) and free full credit report mandate
• TransUnion CIBIL: CIBIL Score 300–900 and report FAQs
• Experian/Equifax/CRIF: Consumer education pages on disputes, utilization, inquiries

FAQs

Kya FICO Score aur CIBIL Score same hote hain?

Nahin. CIBIL Score bureau ka proprietary score (300–900) hota hai, jabki FICO ek scoring model (usually 300–850). Dono alag products hain, base data similar ho sakta hai.

India mein kaunsa zyada important hai—FICO ya CIBIL?

Practically, Indian lenders widely bureau scores (CIBIL/Experian/Equifax/CRIF) aur apne internal models use karte hain. Kuch lenders additional taur par FICO bhi dekhte hain. Safest approach: apni overall credit hygiene strong rakho—dono improve honge.

Agar mere paas koi credit history nahin hai to FICO/CIBIL kaise banega?

Start with a secured credit card ya small-ticket consumer loan. 3–6 months of on-time payments se initial score form hona shuru ho jata hai.

Soft inquiry vs Hard inquiry mein farq?

Soft inquiry (jaise self-check) score impact nahin karta. Hard inquiry (new credit application) score thoda dip karta hai—isse minimal rakho.

Late payment kitne time tak score ko affect karta hai?

Severity pe depend. Usually 24 months tak effect dekhne ko mil sakta hai, lekin consistent on-time payments se impact fade hota hai.