The FICO Score-Three digits that have a big impact on most Americans’ financial life. FICO Scores are used in a large percentage of lending decisions. For the first time since 2009, FICO (formerly known as Fair Isaac Corporation) released a new version of its scoring algorithm called FICO Score 9. It contains several changes to how the score is calculated. This new formula offers hope to consumers whose credit reports contain certain types of negative information.