Even if you're not a financial expert, you probably realize that certain factors will play a big part in both your financial prosperity. Credit FICO scores and other financial jargon have become hot topics in the last few years. Since many don't understand their credit FICO score or how to increase it, they do not understand what is happening to them financially. Luckily, your first step, finding out what your credit FICO score is, is now easier to do than it was a few years ago.

What is a credit FICO score?

People generally know what their credit score is; however, they do not know how it is calculated and what FICO means. Fair Isaac & Company is the pioneer of the score. As far back as 1950, the company found out that a serious problem existed with the way lenders considered their potential borrowers. It was then that they created a system that provides a number to represent your past borrowing and paying activity to give future lenders an idea of your past.

How is the credit FICO score calculated?

If you have ever gotten your FICO score report and wondered what in the world it means and how it's calculated, then you aren't alone. Plenty of people are right in that boat with you. For all intent and purposes, your FICO score is calculated using five primary criteria. They look at other things, as well, but the following five things are the primary indicators that a person is going to be able to repay their bills on time.

How many late payments, if any, have you made? How often do they occur? When were you first given a credit line? How much credit have you used in relation to how much you have access to? How long has this been your current address? Are there any negative points against the credit worthiness, including bankruptcy, foreclosures, and collections, among other things?

How does someone find his or her FICO credit score?

Thankfully, there are many ways to get your FICO score. The three main credit reporting bureaus all offer this number with their credit reports, but the number might not be consistent. Your credit FICO score can, and often does, vary from one reporting agency to the next. All of the numbers could be used, or possibly just the median depending on the type of loan you are trying to get.

Ask one of the three major credit reporting bureaus for your credit FICO score. Be sure to specifically ask that your FICO score be included in your credit report or you may discover that this important information is missing. A person can choose to view his credit report online or can request the information to be sent to his home mailing address.