FICO history

In 1958, Fair, Isaac introduced their first scoring system, called Credit Application Scoring Algorithms, proving that their system could accurately predict the payment behavior of credit holders, including whether they would pay on time, pay late, or not pay at all.

In 1972, Fair, Isaac adapted its products for use with minicomputers, allowing credit applications to become fully automated.

Although the FCRA had a slight negative effect on RCC's reputation, the company remained intact and, in 1975, changed its name to Equifax.

In 1978, Fair, Isaac launched its first behavior scoring tools, intended to aid credit card companies in managing their existing card holders.

Fair, Isaac, with more than $6 million in revenues, struggled through the recession, posting a loss of $135,000 in 1981.

Earl Isaac died in 1983; William Fair continued to lead the company as chairman, president, and CEO. The company remained equally divided between Fair and Isaac's widow.

The following year, the company was back in the black, and by 1984 the company posted more than $600,000 profit on revenues of nearly $9 million.

The company debuted its first general-purpose FICO score in 1989.

Revenues climbed to $31.8 million in 1991, bringing income of nearly $2.8 million.

Combining DynaMark's database and data processing capability with Fair, Isaac predictive modeling tools, the company offers its customers enhanced capacity for targeting their direct mail and marketing campaigns. It acquisition of DynaMark, Inc. in 1992 led Fair, Isaac into the direct marketing industry.

Fair, Isaac also began spending heavily on its own sales and marketing activities, achieving gains to $90.3 million in sales in 1994, providing a net income of $10 million.

The company rolled out its USER products, extending its business to the insurance industry, and then moved into the small business loan market with its Small Business Scoring Service, introduced in 1995.