There are many different credit scores available. The vast majority of those used by lenders and insurers are made either by FICO or by VantageScore Solutions. These companies calculate credit scores by taking a look at huge amounts of credit report information as time passes to see what factors are regarding consumers who pay their bills on time, and what sort of things those who don’t have in common.
Payment History 35%
Credit History 15%
New Credit 10%
Type of credit used 10%
Amounts Owed 30%
There are many different credit scores available. The vast majority of those used by lenders and insurers are made either by FICO or by VantageScore Solutions. These companies calculate credit scores by taking a look at huge amounts of credit report information as time passes to see what factors are regarding consumers who pay their bills on time, and what sort of things those who don’t have in common.
Payment History 35%
Credit History 15%
New Credit 10%
Type of credit used 10%
Amounts Owed 30%