ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -FICO Card Alert Service is used by leading issuers to protect more than 60% of all US debit cards, identifying counterfeited cards and fraudulent use before the majority of losses occur.

Detailed explanation-2: -The FICO® Score is used by lenders to help make accurate, reliable, and fast credit risk decisions across the customer lifecycle. The credit risk score rank-orders consumers by how likely they are to pay their credit obligations as agreed.

Detailed explanation-3: -FICO is an independent data analytics company. We are not a credit bureau, and we are not owned by the three major credit bureaus–Equifax, Experian and TransUnion. We also don’t compile consumers’ credit data.

Detailed explanation-4: -Originally called Fair, Isaac and Company (hence the abbreviation FICO), this name was changed to Fair Isaac Corporation in 2003.