https://techcrunch.com/2022/07/24/these-fintech-startups-want-to-make-credit-scores-a-thing-of-the-past/

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Credit scores have been around since 1989, or for over three decades. They are also known as FICO scores; and FICO stands for Fair Isaac Corporation. The Consumer Financial Protection Bureau (CFPB) describes FICO as “a pioneer” in developing a method for calculating credit scores based on information collected by credit reporting agencies. Many financial institutions have long touted the FICO score as an equitable way to determine a person’s creditworthiness. Whether or not you can take out a home loan and how much interest you pay is based on your FICO score. The higher it is, the better chances you have.