The Five (5) Key Factors that Make Up Your Credit Score

Your Credit Score is calculated from many parts of information in your credit report. This information is grouped into five categories, and each one is important in determining how your Credit Score is calculated.

 

The Credit Score takes into account good and bad information from your credit report. Some activities will raise your score (keeping your credit card balances low, establishing new credit, etc.), and some activities will lower your score (late payments, too many credit inquiries, etc.)

 

The Five (5) Factors That Make Up Your Credit Score are:

 

Credit Reporting Companies will weigh the importance of each of these factors differently.

 

Please read our other blog posts to learn more about these factors and how to manage your credit better better by paying attention to these areas.