credit information and resources
FICO Credit Score

How credit scores
are determined

How to improve
my FICO score

What is my
FICO credit score?

How FICO scores are determined

The calculations used to determine a credit score are different at each credit bureau. However, the scoring models are standardized so that the scores at each bureau are equivalent.

A FICO score is based on information found within your credit report. The 5 basic categories in order of importance are:

1. Payment History - refers to payments being made on time or late, judgments, bankruptcies, collection accounts, and so on.

2. Outstanding Debt - examines the number of outstanding balances, average balance, and ratio of total balances to total credit limits on revolving debt (i.e. credit cards)

3. Credit History - refers to how long you have had your oldest account.

4. Pursuit of new credit - examines when and how many inquiries and new accounts there are.

5. Types of Credit in Use - refers to the number of reported accounts in the various credit card categories (bank cards, travel & entertainment, and so on).

Note: When each FICO score is generated the credit bureau also creates a list of the four most significant reasons why the score was not better.

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