How the heck do they figure out your FICO credit score? The five different factors, in order of decreasing importance are: 1) payment history 2) amounts owed 3) length of credit history 4) new credit 5) types of credit used. For a bit more detailed explanation on how each of these plays out, the “What’s in your FICO score” at myFico.com is a good place to start.
What Goes Into Your FICO?
By Ben Popken November 18, 2008
- making the switch Will Costco’s Switch From American Express To Visa Affect My Credit?
- fico ain't nothing but a number Would You Break Up With Someone For Having A Bad Credit Score?
- behind the numbers 3 Things We’ve Learned About How Demographics, Credit Scores & Marital Status Affect Your Car Insurance Rates
- dispatches from kabletown Comcast Incorrectly Insists Customer Still Owes $400; Her Credit Score Drops By 215 Points
- Where Good Credit = Bad Credit CarHop Must Pay $6.4 Million In Penalties For Jeopardizing Consumers’ Credit With Inaccurate Reports