ELI5 Credit Scores - why do FICO scores end at 850?

ELI5 Explain Like I'm 5: Bite sized answers to stuff you should know about - in a mini podcast

What was the recent algorithm change that is affecting everyone's credit scores? Why do FICO scores start at 300 and end at 850? What factors affect my credit score?

... We explain like i'm five!

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Thank you to the r/explainlikeimfive community as always and in particular the following users whose questions and comments formed the basis of this discussion: snowydew, acreditguru, less_is_happiness, chuyskywalker, aeyln & sonobomb.

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