What Is a Credit Score Based on?

Submit Your Tip

What Is a Credit Score Based on? – This is a place for the community to provide tips and advice on What Is a Credit Score Based on?. This topic was created by Todd Rushworth and the tips are provided by the community. The tips you add here can be your own or referred from another site. The best tips are then ranked at the top when up-voted by members of the community.

Tip 1 - How is my credit score calculated?

Published: 9 years, 4 month(s) ago | Submitted by Wanted Two | permalink

The credit score, commonly referred to as a FICO score, is a proprietary tool created by the Fair Isaac Corporation. This is not the only way to get a credit score, but the FICO score is the measure that is most commonly used by lenders to determine the risk involved in a particular loan.
Tags: fico,credit score,credit report,loan,credit risk,bankruptcy,default,bankrupt,delinquency,credit card,credit cards,credit rating

For further reading: http://www.investopedia.com/ask/answers/05/creditscorecalculation.asp ^[1]

Tip 2 - The 5 Biggest Factors That Affect Your Credit

Published: 9 years, 4 month(s) ago | Submitted by vmi 2k 2 | permalink

Credit companies rely on these factors to determine whether to lend to you and at what rate.
Tags: credit score,credit report score,credit score ratings,fico credit score,credit report,improve your credit score,improve credit score,credit history,credit cards,fico,equifax,experian,transunion

For further reading: http://www.investopedia.com/articles/pf/10/credit-score-factors.asp ^[2]