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Credit Score/Credit Reports Credit Report Articles What Factors into Your Credit Score?
Credit Score/Credit Reports Credit Report Articles What Factors into Your Credit Score?
| What Factors into Your Credit Score? |
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| Written by Administrator | |||
| Friday, 18 July 2008 10:53 | |||
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What Factors into Your Credit Score? Below is a list of the factors used to score you, listed in order of importance. (Information marked with an asterisk [*] is obtained from information that you provided on an application and is not considered in a credit bureau score.) • Major derogatory items on your report (i.e., bankruptcy, collections, foreclosure, slow-pays); • Time at present job; • Occupation (professionals are given heavy weight);* • Time at present address; • Ratio of balances to available credit lines (the lower the better); • Whether or not you own your home (if you do, this is heavily weighted);* • Number of recent inquiries; • Age (50+ is the best); • Number of credit lines on your report; • The number of years you have had credit in the credit bureau database.
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| Last Updated ( Friday, 18 July 2008 10:54 ) |