What does fico mean, and what fico does for you, can be all you need to know when you are buying a new home. FICO is actually stand for Fair Issac & Company. See the pattern; F stands for Fair, I stands for Issac and CO stands for company. Your FICO score is a rate of your credit beginning at 400 and can go up to over 700. Only 35% of your FICO score is based on your payment history. The rest is made of how much money you currently owe, the length of time you have had credit established and how many new loans that you have applied for recently.