3 Thoughts on What they consider for calculating the credit score?
  1. Reply
    August 2, 2011 at 12:29 am

    myfico.com has a whole section on that.

    How long have your accounts been open? You available credit versus credit used (utilization percentage). Are there any negative accounts (charge off, collection, bankruptcy, etc)? Are you paying your bills on time? Those are all figured into your score.

  2. Reply
    August 2, 2011 at 1:27 am

    It’s actually very simple.

    1. Payment history (longer the better) 35%
    2. Time in bureau (longer the better) 15%
    3. Types of credit (mix of revolving & installment credit) 10%
    4. New credit (new accounts & inquiries fewer the better) 10%
    5. Debt to credit ratio (lower the better) 30%

  3. Reply
    August 2, 2011 at 2:19 am

    You can use this credit monitoring service to pre-estimate future scores for different scenarios of such payments – credit-report-free.totalh.com

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