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How Is Your Score Calculated

In Uncategorized by James Bolton20 Comments

Your fico score typically ranges from 300 to 850. Your credit score is generated based on the information in your credit report. Fair Isaac is tight-lipped about exactly how the scores are calculated. But they do give the weights of various criteria that they look at: 35% payment history, 30% amount owed, 15% length of history, 10% new credit, 10% …

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In Uncategorized by James BoltonLeave a Comment

The¬†scores most often¬†used in lending decisions were introduced by the Fair Isaac Corp more than 25 years ago and are known as FICO scores. However, one of the biggest reasons there are multiple FICO scores is because lenders assess borrowers differently, depending on the loan product. For example, a lender considering you for an auto loan will be much more …