While we don’t know exactly how a credit score is determined, we do know that the following items are always considered important: Payment History (35%) Your score is negatively affected if you have paid bills late, had an account sent to collection or declared bankruptcy. If you charge up that already outstanding card, they figure […]

A credit score is intended to be a snapshot or summary of your credit history. It is produced with a computer model created most often by Fair, Isaac & Co. (or FICO) leading to the somewhat generic term “FICO score”. A low score can mean you won’t get a credit card or loan or that, […]

Scoring models and other tools analyze data only, using it to predict future credit performance. A scoring model contains a list of questions and answers, with points given for each answer. Information proven to be predictive of future credit performance is used in the model. Here are a few examples of what a typical model […]

A credit bureau score is one type of credit score. It is calculated from the information on your credit bureau file at the time that the information was requested. Consequently, a credit score is like a snapshot. It sums up, at one given point in time, what your past and current credit usage says about […]

To understand the credit process, you first need to understand what information is contained in a credit report. Although the style, format and coding may be different depending on which credit reporting bureau is used, the typical consumer’s credit report includes the following four types of information: Identifying Information—includes your name, nicknames, current and previous […]