There are a lot of very helpful "pinned" threads at the tops of each of the sub forums. Check out the "Understanding FICO Scoring" form and the threads there. You should find the answer to your questions there. 
And welcome to the forum!
@ChrisinKC wrote:The only score you should really care about is the score that your lender uses, which more than likely is not one of the scores that FICO makes available to you, nor willl you know beforehand which FICO score to look for since lenders aren't required to disclose which FICO scoring formula that they use. In my experience, I haven't found a single lender who would even confess to knowing which FICO scoring version they used.
So pretty much you'll be in the dark on what your scores are until you apply for a loan, and in that case your score will be lowered just because you applied for the loan.
Good luck,
Thsi reply is actually not addressing the OP question.
@Anonymous wrote:Does the score equate to a specific amount of credit? I know it' is computed using some type of formula. Are these consumer credit scores or business scores since the accounts on there are typically business accounts?
The FICO scores are a personal credit measure, intended to combine all of your payment history (at least the last several years), including any negative events like not paying on time, not paying at all, and other risk factors associated with credit that you have taken out earlier. The score can be held down by large amounts of existing loans, such as in my case, because those outstanding debts are a risk factor for any one bank to be paid back.
A credit card company will be more likely to give you a higher limit if your FICO score is higher, because in the forumlas, a higher FICO score indicates a longer history of no problems making payments. The actual amount of the credit limit, however, will depend on your ability to pay, such as annual income.
